Australia is a trading nation. Its economy relies on a strong and open global trade environment. Australian governments have historically rejected protectionist industrial policies that undermine fair competition, and Canberra has long been a staunch advocate of the World Trade Organisation, whose rules help “promote and protect the open global trading system”. Yet Labor has… Read more »
FinTech Australia is calling on the Federal government to address the challenging capital raising environment for startups and renew its support for Austrade’s effort to promote our local sector abroad. In its pre-budget submission tabled ahead of federal treasurer Jim Chalmers announcing his 2024 Budget on May 14, FinTech Australia CEO Rehan D’Almeida said the… Read more »
After a year in power, NSW Premier Chris Minns has decided to put Investment NSW under his watch, along with the Office of the Chief Scientist, amid a restructure of the NSW Department of Enterprise, Investment and Trade (DEIT) that will see its demise. The state government announced the shakeup on Friday afternoon, claiming that… Read more »
The federal government will directly intervene to support and subsidise key growth areas such as clean energy and innovative technologies in a significant policy shift that Prime Minister Anthony Albanese will take to the next election. In a speech to the Queensland Press Club on Thursday, Albanese set out a “more strategic and more sophisticated”… Read more »
Accounting tricks are helping Big Tech firms avoid paying tax on up to 96.6% of their Australian income, according to a new analysis of Australian Taxation Office (ATO) figures that showed Apple was the worst offender when it came to corporate tax minimisation. The tech giant took $9.3 billion from Australian customers during the 2021-22… Read more »
Here’s an astonishing figure. While a third of Australian households have solar power, making us the world leader on adoption, just 1% of those panels are locally made, even thought we invented the technology. So the federal government is hoping to transform the coal mining Hunter Valley region, north of Sydney, into a solar manufacturing… Read more »
Nearly a quarter of the way through its first term, the NSW government has opened submissions for its Innovation Blueprint, seeking to make its support for the sector “more collaborative”. After NSW minister for innovation, science and technology, Anoulack Chanthivong announced plans for an Innovation Blueprint last September, six months after taking on the portfolio,… Read more »
Advocates believe a perfect storm of competition concerns, new fuel efficiency standards and the axing of archaic parallel-import restrictions could provide “achievable change” that boosts the supply of electric vehicles (EVs) and slashes their prices by around $9,000. That’s the amount Australians are overpaying for EVs, former ACCC chair Allan Fels concluded in a recent analysis of price… Read more »
The Albanese government’s signature business investment vehicle, the $15 billion National Reconstruction Fund, has its first boss, with veteran Macquarie Group executive Ivan Power named as CEO. Power has worked in global investment for more than 25 years alongside a strong track record in working with early-stage startups and social ventures.. UNSW director of entrepreneurship… Read more »
MyGov will be modernised with passwordless logins and a new Digital Inclusion Standard, the federal government has announced in responding to a scathing audit that warned current legislation “impedes service delivery” through the underfunded platform. The government’s response to the myGov user audit – an election promise that began in September 2022 as a “myGov revolution” and handed down its findings in… Read more »
The government will give Australia’s competition watchdog more power to keep the likes of Google and Meta accountable as part of the News Media Bargaining Code which redistributes wealth from big tech companies into local news outlets in an effort to address an apparent power imbalance in the media industry. On Monday, the Commonwealth said… Read more »
The government has committed to a mere 7-day processing time for applicants of its newest skilled visa category in a bid to make Australia a more attractive for IT professionals as part of a set of long-awaited changes to the migration system. Migrants coming into jobs that earn at least $135,000 a year will have… Read more »
Six months after trumpeting $19.8 million for an “Australian Centre for Quantum Growth” the Albanese government and science and innovation minister Ed Husic have slapped $18.5 million on the table hoping someone will take up the reins to make it happen. The $18.5 million in funding is to establish the Australian Centre for Quantum Growth… Read more »
The federal government’s flagship $392 million Industry Growth Program has been officially launched, with grants of up to $5 million available for startups and small businesses. The $392.4 million program was unveiled in the May budget, replacing the former Coalition government’s Entrepreneurs’ Programme, which was embroiled in controversy due to bungled procurement processes. The aim of the… Read more »
A new cross-party group of politicians is getting behind the local tech sector to understand the issues it faces has launched in Canberra. The Parliamentary Friendship Group on Tech and Innovation is being co-chaired by Labor member for Bennelong Jerome Laxale, the Liberal member for Casey, Aaron Violi MP and Wentworth independent Allegra Spender, and has… Read more »
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