In brief
Allens has looked at the Budget handed down by the Turnbull Government this week and identified the hits and misses for Australian startups.
Overall, the measures targeted at the startup and innovation sector have mostly been amendments and improvements to existing legislation and previously announced initiatives. Many of the improvements on tax incentives and wins for small and medium businesses build on the Mid-Year Economic and Fiscal Outlook 2015-16 measures handed down six months earlier as part of the National Innovation and Science Agenda.