Author's Opinion

The views in this column are those of the author and do not necessarily reflect the views of iTWire.

Have your say and comment below.

Wednesday, 09 May 2018 12:03

Govt has one IT policy: take from the poor, give to the rich

By

The Coalition Government's approach to the R&D Tax Incentive in last night's Federal Budget mirrors its approach to every other sector or section of society: take from the poor, give to the rich.

The changes that were announced will hit start-ups when they are at their most vulnerable: at the stage when they have yet to start generating revenue.

At the other end, the R&D expenditure threshold — the maximum amount of R&D expenditure eligible for concessional R&D tax offsets — has been increased from $100 million to $150 million annually. That will only benefit big companies, most of whom are established.

The R&D Tax Incentive seeks to improve the quality and quantity of R&D investments and is a broad-based program that is accessible to all industry sectors where businesses get a refund or tax offset for undertaking R&D activities if requirements are met.

Expenditure on the scheme has risen to more than $3 billion over the years as the number of firms who are in the so-called innovation sector has grown.

Exactly why the Incentive is available to big companies is difficult to fathom – unless it is done because these are the very firms that would donate to the coffers of political parties. Then the whole thing begins to make sense.

Start-ups often struggle to make payroll and political donations would be the last thing on the minds of the struggling souls who run these outfits.

The government is full of talk when it comes to things digital but it does not walk the walk. Technology does not need to be bound by geography and Australia has already lost at least a couple of solar entrepreneurs to China and the US.

But then as the saying goes, people act in haste and repent at leisure. This government is no different.

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has high potential to be exposed to risk.

It only takes one awry email to expose an accounts payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 steps to improve your Business Cyber Security’ you will learn some simple steps you should be taking to prevent devastating malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you will learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

ADVERTISE ON ITWIRE NEWS SITE & NEWSLETTER

iTWire can help you promote your company, services, and products.

Get more LEADS & MORE SALES

Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]

OR CLICK HERE!

Sam Varghese

website statistics

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments