Australian sentiment to be buoyed by innovation statement

Australia's latest Prime Minister, Malcolm Turnbull, is set to unveil his first big initiative today, the "Innovation statement"

• Investments in start-up enterprises will be capital gains tax free after three years
• Retail investors will be offered generous income tax rebates
• And another 22 new measures worth more than $1 billion collectively

Sources have told The Australian Financial Review the tax incentives for investors will be modelled heavily on the United Kingdom's Seed Enterprise Investment Scheme.

More at the Australian Financial Review

This is unlikely to impact on the AUD immediately but should be a boost to sentiment.