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Invest Australia is responsible for providing advice, analysis, facilitation functions, national investment promotion activities and coordination with State and Territory Governments on investment promotion and facilitation. The existing Investment Promotion and Facilitation Programme has attracted and facilitated nearly 400 new investments to Australia with a capital value of $12 billion. These projects have created over 17,000 new jobs and generated annual exports of $30 billion. The programme is currently facilitating 25 major projects with investments over $47 billion and the potential to create over 11,000 new direct jobs.
VENTURE CAPITAL
The Government has introduced legislation to provide Australia with a world's best practice investment vehicle for venture capital to encourage new foreign investment into the Australian venture capital industry. The legislation will provide flow-through taxation treatment for registered venture capital limited partnerships and Australian venture capital funds. Certain foreign investors in these funds will be entitled to tax free returns from the gains on the investments.