The Federal Government announced its Budget for 2017-18. It seems that this budget indicates that Turnbull's government has a good handle on what is needed for the country, boding for a dream run towards 2020!
The initiatives of needs-based school funding – together with big bets on infrastructure, the removal of the Medicare rebate freeze, a crackdown on non-residents investing in Australian real estate and a one year reprieve for the popular small business $20,000 instant asset write-off – are epic - well done ✅.
Policy introduced to increase competition Australia’s fintech sector, making it easier for small businesses to raise capital and allow businesses to test a wider range of financial products without a licence. ( read more here http://bsi.com.au/crowdsourcing-and-encouraging-people-to-invest-in-innovation-in-2017-budget/
The superannuation measures announced dealing with the financial arrangements impacting on retirement - vis a vis superannuation, taxation, aged care and social security - is going a long way to ensure the system is fair, sustainable and fit for the long-term.
A little bit more for support of innovators and exporters would be nice - maybe
- maybe a relaxation of the r and d definition from science to innovation
- an offset of the foreign levy if you export or innovate? eg claim an r and d tax concession or export grant )
What do you think?