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.
The Morrison government wants to take foreign investment and talent from places like Hong Kong. Here s how it plans to do it. Jack Derwin Money and talent is leaving Hong Kong. Australia wants them to come here. (Vernon Yuen, NurPhoto via Getty Images)
The federal government is making a $550 million pitch to attract global investment and expertise to Australia.
According to the AFR, the package will see the ATO set up a special concierge service for foreign investors amongst other measures, on the back of a fast-tracked visa initiative.
It comes as Australia increasingly looks to compete with other jurisdictions like Hong Kong and the United States when it comes to foreign investment and businesses.
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.
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