We really need to stop the geek tax. Currently people (typically geeks) creating tech startups are unfairly penalised from creating jobs, wealth, innovation and quality of life for Australia.
I am talking not just about ESOPS but also the unfair CGT provisions that treat creators like other business owners even before they have earned one cent of dividends or in the hand benefit.
This is as much about the cashflow as it is about the sheer complexity and uncertainty and time taken to understand literally dozens of ATO documents and hundreds of web pages.
It should be simple until there are significant amounts at risk.
We need to stop the #geektax attitude in Treasury and the ATO and both sides of politics, have a look the details of this proposal (two pages with examples) and sign the petition or comment below. I will present it to treasury in Canberra next week or as soon as it gets enough momentum. Please also share this…
Read the full proposal to Drop Paperwork for Australia Tech Startups here