Strengthened government investment in innovation and tax policy changes to support that innovation are two outcomes a number of startup industry figures are looking for when the federal government’s budget is released on Tuesday night.
However, one change they hoped would arrive in the budget now won’t go ahead, with the Australian Financial Review reporting that the government has put planned changes to employee share schemes on hold because it was at odds with the budget’s “tough love” message.
StartupSmart ezine carried the story today.
Blue Chilli head of marketing Alan Jones says he is frustrated by the move.
“[The delayed changes] would allow startups to attract employees and over the long term retain key employees,’’ he says.
“It wouldn’t be out of step with the tough love message.”
RSM Bird Cameron director Con Paoliello says the budget should recognise that the economy is no longer being driven by the manufacturing or services sectors, and should invest in incentives, infrastructure and innovation.
He wants to see tax incentives for investors that would help get startups off the ground.
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