http://www.dnaindia.com/money/report-australia-to-plough-nearly-rs-5400-crore-into-switch-from-mining-to-tech-2152853
Australian Prime Minister Malcolm Turnbull on Monday unveiled a A$1.1 billion (nearly $806 million or Rs 5,393 crore) package to boost innovation in Australia, using his first major economic policy statement since becoming the leader to map out a pathway beyond the country's fading resources boom.
The plan's incentives include reductions in the capital gains tax for start-ups, generous income tax rebates for retail investors, changes to bankruptcy laws to encourage more risk-taking by entrepreneurs and immigration changes to lure top talent.
"We have to work swiftly and nimbly, and government has to lead the way," said Turnbull, a multimillionaire and former tech businessman. "The ideas boom is the next boom for Australia."
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