Here’s what you need to know in tech today.
1. Here’s what tech giants paid in tax last year. The Australian Tax Office has released data on the income and tax paid by 1500 companies last year. Many tech giants paid an effective tax rate around 10% — if they paid any tax at all.
2. The NBN will include a network that was fined for falsely claiming “NBN-like speeds”. The ACCC has fined Optus for claiming one of its cable networks has “NBN-like speeds” – actual upload speeds were 20 times slower than the NBN promises. But the same network has been bought and will be used as part of the NBN’s multi technology mix.
3. NSW has legalised Uber. As of today ridesharing services are legal in the state, although taxis retain exclusive rights to pickup passengers from the street, taxi ranks and airports. A temporary $1 levy will be applied to ever trip, as the government compensates the owners of taxi plates. You can read more here.
4. Westpac has joined the blockchain bandwagon. The bank is the 43rd to join an international consortium developing the blockchain into a framework for the financial system. There is now a race between several projects to set the standard for blockchain based finance.
5. Megaport just raised $25 million on the ASX. The two year old company sits between enterprises and the increasingly popular cloud networks. Megaport already operates in four countries in the Asia Pacific, and the new capital will be used to expand into the United States and Europe.
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