Just published 30 mins ago ...
https://unauthorised investment advice/tech/who-were-the-biggest-winners-from-the-budget-the-asx-seems-to-think-its-tech/
s t o c k h e a d . c o m . a u /
Who were the biggest winners from the budget? The ASX seems to think it’s tech
While few other stocks rose today with anything to do with the Budget, the tech industry more broadly was judged to be a substantial winner, particularly AI and cybersecurity.
The government has pledged $1.2 billion or the Digital Economy Strategy which includes $500 million towards My Health Record and myGov.
$124.1 million has been committed to establish a National Artificial Intelligence Centre which will be led by the CSIRO and be supported by a broader network of AI and Digital Capability Centres.
$50 million will go towards improving digital security and $35.7 million will go toward emerging aviation technologies such as drones.
Tech companies will also be getting some additional tax relief.
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It will also cut the corporate tax rate on income derived from patents beginning next year towards medical and biotech innovations.
From July 1, 2023 tech companies with depreciation costs will be allowed to self-assess their tax effective lives following the end of the current regime which allows full expensing.
All IMHO, DYOR
