Australian tax system lets start-ups down

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[1] KPMG Australia’s David Gelb has warned that the Coalition’s continued push to tinker with the R&D tax benefits available to innovative businesses could have a negative impact on the local ecosystem.

[2] The federal government needs to rethink how early-stage start-ups are currently classified for tax purposes in order to prevent the exodus of innovative Australian start-ups from home.

[3] He added that startups could bridge the funding gap and maintain a strong cashflow through redefining the framework within which early-stage start-ups operate.3

[Source] Australian Information Technology News – Australian tax system lets start-ups down