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Australia to plough A$1.1b into switch from mining to tech
Country consistently ranks last or second-last among OECD countries for business-research collaboration
Add BT as a preferred sourcePublished Mon, Dec 7, 2015 · 09:50 PM
Sydney
PRIME Minister Malcolm Turnbull on Monday unveiled a A$1.1 billion (S$1.12 billion) package to boost innovation in Australia, using his first major economic policy statement since becoming leader to map out a pathway beyond the country's fading resources boom.
The plan's incentives include reductions in the capital gains tax for startups, generous income tax rebates for retail investors, changes to bankruptcy laws to encourage more risk-taking by entrepreneurs and immigration changes to lure top talent.
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