There’s loads happening in tech today, so let’s dive right in.
1. The NBN is running out of money. Announced in the budget last night, the government will be giving the NBN Co its last $8.8 million in taxpayer cash in the next financial year. After that, it will have to seek funds privately, except the NBN Co is worried it won’t be able to. This is what’s in the budget:
“In the event that NBN is initially unable to raise the necessary debt on acceptable terms, interim funding support may be required,” the budget papers say.
“Were it required, additional Government financial support for NBN would have implications for the fiscal position, for example by increasing assets and liabilities on the balance sheet and, depending on the nature of support, could have positive or negative impacts on the underlying cash balance.”
2. The Senate has passed startup tax break laws.The chances which make investing in Australian startups more attractive from 1 July.
Minister for Industry, Innovation and Science Christopher Pyne said the measures would help grow startups and enable global success.
“These tax measures are designed to broaden and diversify the economy through economic policies that build growth and productivity,” he said.
“The Tax Incentive for Early Stage Investors and New Arrangements for Venture Capital Limited Partnerships will promote investment in innovative high-growth potential startup companies and improve businesses’ access to venture capital.”
3. There’s going to be an ‘Amazon tax’ on all online shopping. Cheap overseas goods are about to take a hit, with the government introducing an ‘Amazon tax’ in the 2016 federal budget, applying see the GST applied to all products bought online from overseas.
This means everything from books on Amazon or clothes bought off ASOS will be 10% more expensive. The new GST will kick in from 1 July, 2017.
It will also only apply to companies earning more than $75,000 a year from Australian customers.
4. One of Snapchat’s best features is coming to Australia. After launching in the US, UK and Canada in February, Snapchat is bringing personalised geofilters to Australia.
The feature, which has the potential to be a huge hit for the special platform, is now live for Australia, Snapchat has confirmed to Business Insider.
On-demand geofilters allow Snapchat users to create and publish personalised snap filters for their party, wedding, business or any type of event, wherever they are.
For example, for an 18th birthday at Circular Quay in Sydney, the venue or the person who’s holding the birthday could create the filter for everyone at that particular location to add to all their snaps for the night.
5. Only Optus customers will be able to watch the EPL next season. As expected, you will have to be an Optus customer to watch live EPL games in Australia from next season, with a current mobile, broadband or Yes TV subscription required for access.
Subscriptions will be available for $15 per month, or will be included free for plans valued at $85 per month and above.
Streaming the games will be unmetered for both mobile and broadband customers.
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