Joe Hockey doesn't want to mess with the tax system for startups

Treasurer Joe Hockey doesn’t want to do anything which upsets the startup investment environment.

That’s what he said in an interview with the AFR when he was discussing how startups are beginning to find some funding support.

Hockey said he was wary of making any changes to the tax system which might change the status quo.

“There is stable, predictable capital, patient capital that is starting to come into Australian startups. I find that encouraging and if you can have some stability around the tax regime for capital regime, then that’s attractive for those of investments, and that’s exactly what we need – we need innovation, we need people to take a risk and I don’t want to do anything that would discourage risk-taking,” he said.

Certainty usually does breed confidence and that’s what Hockey would be chasing right now.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.