Politics

The Budget’s ‘patent box’ plan is so poorly designed, it’s more likely to help multinationals reduce their tax bill than boost startup innovation

- May 19, 2021 3 MIN READ

On budget night federal Treasurer Josh Frydenberg announced Australia is getting its own “patent box”. What is a patent box? Despite its odd name, it is a relatively straightforward concept. It means lowering the tax rate on all income derived from patents registered in a nation. About half the members of the European Union, Britain… Read more »

Politics

Startup leaders react to the 2021 budget

- May 16, 2021 11 MIN READ

Nearly all the good news in this week’s budget was announced ahead of Treasurer Josh Frydenberg detailing the government’s plans for the year ahead. Nonetheless, we asked many in the startup and tech sector what they thought of the 2021 budget. Here are their reactions:   Rebecca Schot-Guppy CEO, FinTech Australia There weren’t too many… Read more »

Cyber security

The tech sector says the budget’s response to addressing cybersecurity threats ‘falls short’

- May 14, 2021 3 MIN READ

While technology-industry figures have welcome a smattering of relevant Budget allocations, many have warned that its failings in areas such as skills development and cybersecurity defence will have dire long-term consequences. Despite announcing $1.2b in tech-industry support and tax breaks, this Budget’s biggest technology-industry investments related to the $301.8m expansion of the My Health Record system and… Read more »

Politics

The budget is a dud for tech and startups

- May 12, 2021 4 MIN READ

Scottish writer Sir Walter Scott wrote: “The hour’s come and the man” and 180 years later, the phrase that launched a million memes could equally apply to the tech industry. Except in last night’s federal budget, in tech’s finest hour, it could barely be seen in treasurer Josh Frydenberg’s announcements. I’ll be blunt: when the… Read more »

Josh Frydenberg
Politics

‘We want to see more innovation commercialised in Australia’: Josh Frydenberg’s 2021 Budget speech

- May 11, 2021 13 MIN READ

Australia is coming back. In the face of a once‑in‑a‑century pandemic, the Australian spirit has shone through. Doctors and nurses on the front line. Teachers and students in the virtual classroom. Businesses, big and small, keeping the economy moving. ‘Team Australia’ at its best. A nation to be proud of. We have come so far… Read more »

Politics

The federal budget’s $1.2 billion digital strategy includes a 30% tax offset to boost the video games industry

- May 6, 2021 2 MIN READ

More than $500 million of a $1.2 billion digital economy strategy in Tuesday’s budget will be spent on overhauling the federal government’s myGov and My Health Record sites. The initiatives, to be announced by Scott Morrison on Thursday, include $200.1 million for myGov, which is the main portal for people to access government services online.… Read more »