Budget 2021: What are tech leaders looking out for?
Rebecca Schot-Guppy is the chief executive officer at FinTech Australia.
Between the $1.2 billion digital economy plan, encouragement of foreign investment and changes to employee share schemes, tonight’s budget is shaping up to include a swathe of policies that will affect the Aussie startup ecosystem.
But there are still a few things that aren’t crystal clear just yet. So, here are four areas leaders in the startup sector are keeping an eye on.
Addressing the skills shortage
There has been a lot of talk around the tech skills shortage, and the difficultly startups face in securing the talent they need to grow their businesses.
Scottish Equity Partnersâ Investment Set To Fuel RegTech Revolution With FundApps Date
11/05/2021
Scottish Equity Partners (SEP) has completed a significant growth equity investment in FundApps, one of the world s most successful Regulatory Technology (RegTech) companies.
As the first ever Compliance-as-a-Service (CaaS) business, FundApps has transformed the way investment managers deal with the regulatory burden by combining cloud technology, regulatory expertise, market data and the unique FundApps Community. Previously, compliance managers were overwhelmed by ever-increasing complexity, but services covering Shareholding Disclosure, Sensitive Industries and Position Limits have truly made compliance simple.
Today, London-headquartered FundApps has over 100 clients, ranging from hedge funds, asset managers and sell-sides, to the world’s largest sovereign wealth funds. Collectively, FundApps’ services monitor over 10% of global assets under management. Investmen
May 11, 2021
The Treasurer Josh Frydenberg will deliver his third federal budget tonight in Parliament, and his second budget in just six months.
And while the Morrison government has made a few sure announcements about what the budget will include, it has left a lot open for discussion.
Here’s a list of what we’re expecting will be addressed in tonight’s highly anticipated budget.
Extension to low and middle income tax offset
Pre-budget reports suggest the government will extend a temporary tax cut for low and middle income earners for another 12 months, as part of a plan to maintain confidence in the economy.
Singapore gov’t offers millions to modernize RegTech solutions in financial industry Business
Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), has pledged S$42 million (US$31.6 million) towards modernizing the country’s financial digital infrastructure. Part of this will include the new Regulatory Technology (RegTech) grant scheme, which provides funding both to develop new entrants to the market, and assist more established firms to integrate modern RegTech systems on a larger scale.
While the grants scheme doesn’t refer to digital assets or blockchain companies specifically, some industry representatives have welcomed the announcement. Developing and integrating RegTech into the digital asset ecosystem is vital to their gaining acceptance in the wider financial world.
May 3, 2021
The latest recommendations from a select committee on fintech and regtech could see R&D Tax Incentive (RDTI) payments dished out on a quarterly basis.
The Senate Select Committee on Financial Technology and Regulatory Technology, chaired by Senator Andrew Bragg, tabled its second interim report last week, making two recommendations relating to the contentious RDTI scheme.
First, it suggested that different assessment methodologies should be used for the scheme.
The report did not go into detail as to what alternative methodologies would entail, but referred to submissions that suggested the current means of assessment is not compatible with software engineering, and alternative methods could allow for more flexibility and adaptability.