News & Analysis

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 »

News & Analysis

Australia’s digital economy budget spend should be 10 times bigger than the budget plan

- May 17, 2021 4 MIN READ

The federal budget for 2021-22 promises A$1.2 billion over the next six years to support the Digital Economy Strategy, a plan to make Australia “a leading digital economy and society by 2030”. The Digital Economy Strategy proclaims We are well placed to be a leading digital economy and have strong foundations, but many countries are… Read more »

News & Analysis

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 »

Josh Frydenberg
News & Analysis

The budget killed off millions of dollars of support for startup incubators

- May 13, 2021 3 MIN READ

A program offering up to $250,000 to support startup incubators was closed by the federal government on budget night as treasurer Josh Frydenberg the government’s innovation credentials. The Incubator Support Initiative offered between $13,000 to $250,000 of funding for up to two years for incubator projects, covering up to 65% of the cost in regional… Read more »

News & Analysis

THE WAY FORWARD: A practical guide to what the tech sector should do next after a B- budget

- May 12, 2021 4 MIN READ

Now that the dust is starting settle around what is one of the most closely-followed Federal Budgets in recent memory, some key themes are starting to emerge as invariably the different sectors of the Australian economy fall into either the “Winners” or “Losers” camps. For the Australian tech sector, this Budget was a missed opportunity… Read more »

News & Analysis

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
News & Analysis

‘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 »

News & Analysis

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 »