Fintech in Australia

It's that two speed kind of thing, right? Where there's a lot of historical, I guess, maybe baggage isn't quite the right word, but like a lot of, uh, rules and regulations that were written around like the old world and so trying to do something new in that world is is yeah great it really is so uncertainty is probably one of the bigger

i think but also at the same time like if it was easy then everybody would do it very true and so if you've got i think operating in on the flip side great thing about operating in the fintech industry is that there's a there's a there's a really good community FinTech Australia are a really great community.

I think it's very close.

It's a small community.

But in this context, given everything else that's going on and founders are not always the best on paperwork, lots of good intentions, but I also think it takes them a little bit away from – having being able to focus on what they need to do and this one is do does government does treasury truly believe that somehow the spirit of what they're doing it's just been a rort all along and suddenly it changes a little bit like when you're asked you know has your disability suddenly self-cured itself please please fill out are you a little less blind than you were previously um you know there are those weird moments and it feels like that same sort of mindset is going on in this The fintech sector is also still concerned.

Fintech Australia CEO Rehan Dalmeida said that the new draft is an improvement but is still fundamentally flawed and an existential threat to fintech innovation.

The central problem remains certainty.

A tax incentive wrapped in uncertainty is not an incentive was the point that he made.