Feeds

Australia ponders easier share options, crowdfunding

Startups' wish list ticked off, in a good way

  • alert
  • submit to reddit

New hybrid storage solutions

Australia's tech sector will probably miss out on one of its longest-standing Christmas wishes. Although communications minister Senator Stephen Conroy has announced a review of the treatment of employee share schemes – a major gripe in titsup startup land – he's doing so from the point of view of a government already hearing the rattle of the tumbril.

The announcement was made with the support of assistant treasurer David Bradbury, and Greg Combet, who carries the brief for industry and innovation.

As well as looking at employee share treatment, the reviews announced by the government will also look at crowdfunding. This has been another sore point in Australia, with considerable uncertainty regarding how crowdfuding fits in the country's financial regulation.

During 2012, Australia's Australian Securities and Investment Commission, stated: “depending on the particular crowd funding arrangement, ASIC's view is that some types of crowd funding could involve offering or advertising a financial product, providing a financial service or fundraising through securities requiring a complying disclosure document. These activities are regulated by ASIC under the Corporations Act and ASIC Act and may impose legal obligations on operators of crowd funding sites and on people using those sites to raise funds.”

It warned that carelessly handled, crowdfunding efforts could bring themselves under various investment or fundraising rules.

The Australian Information Industries Association has been critical of how employee share schemes are treated in Australia, and has made this part of its lobbying platform ahead of the 2014 election. Back in 2009, in an effort to deal with perceived rorting of the system, the government capped the salary sacrifice into employee share schemes at $5,000.

The employee share scheme review has been scheduled to report in December 2013, while the crowdfunding review will be presented in April 2014. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Drag queens: Oh, don't be so bitchy, Facebook! Let us use our stage names
Handbags at dawn over free content ad network's ID policy
Net neutrality protestors slam the brakes on their OWN websites
Sites link up to protest slow lanes by bogging down pages
Get thee to YouTube, Turnbull tells community TV broadcasters
But will telcos want a slice in the 500 MHz band?
Tasmania offered possible pay-to-connect for NBN fibre
Also: NBN Co adds no-battery option to migration program
Business expects data retention will hit their bottom lines: survey
A great big new tax on everything, a python squeeze, a wrecking ball ...
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.