News Pulse for October 17, 2016

A daily download of SME, startup, fintech and tax news from around Australia.

Airbnb set to benefit from accommodation inquiry calling for streamlining of rules

All home owners across New South Wales should be allowed to use online house-sharing websites to let out rooms to holiday-makers and tourists without the prospect of being fined, a NSW parliamentary inquiry has found.

Only 12 NSW councils currently have rules allowing home owners to lease properties for short-term stays through websites such as Airbnb.

$100m boost in retail change

A landmark trading hours ruling that will see retailers in Queensland’s southeast allowed to open between 7am and 9pm from Monday to Saturday could inject more than $100 million into the state’s economy, retailers say.

The Queensland Industrial Relations Commission granted the ruling this morning.

Start-ups ‘speed date’ to brainstorm disruption

Local innovators are joining forces with global companies via “start-up speed-dating” to help transform the transportation sector and change the way people commute.

One of the recent sessions tipped that within 10 years, commuters would be travelling using “transportation subscriptions”, allowing them to access any public transport for one flat monthly fee.

The coolest 100 people in Australian tech

The past 12 months have proved to be a coming of age for Australian tech.

While Australia has always produced a steady stream of entrepreneurs and innovators with a global profile, the Nasdaq listing last December of Atlassian – now a $US6 billion company having been founded 14 years ago in Sydney on a $10,000 credit card – has redefined the limits of what’s possible for domestic tech companies. Innovation and technology have shifted to the heart of the economic policy agenda, and there is a clear recognition among policymakers and investors that Australia needs a strong technology ecosystem to compete in the modern global economy.

We’ve sorted through Australia’s leading technology figures to bring you this list of the coolest people working in the sector.

Malcolm Turnbull praises Kelly O’Dwyer despite ‘slip up’ in Parliament

Ms O’Dwyer acci Australian Chamber of Commerce and Industry dently supported a motion condemning the Government on Wednesday, and then was unable to answer a question about the same bill yesterday

But Mr Turnbull has told Melbourne radio station 3AW she’s doing a good job, adding that Ms O’Dwyer had acknowledged that she “slipped up”.

“I have full confidence in Kelly,” he said.

University of Sydney gives $1 million to start-up accelerator founded by students | afr.com

The University of Sydney will put $1 million into a start-up accelerator founded by students which, in four years, has attracted more than $7 million in venture capital and nurtured businesses collectively worth $32 million.

The new money will allow the accelerator, Incubate, to nearly double the number of new start-ups it supports each year from 16 to 30.

Morgan Stanley’s Jeffrey McMillan says collaboration is key in fintech

It makes more sense for a global banking giant such as Morgan Stanley to collaborate with innovative fintech start-ups than to try to be innovative itself, according to the bank’s chief analytics and data officer, Jeffrey McMillan.

“Probably 75 per cent of our technology that we build is coming from the fintech sector,” Mr McMillan told The Economist’s Finance Disrupted conference in New York. “We don’t really want to be innovators — that’s not what we’re really good at.

Senate backs Telstra-run Cancer Register — but calls for action on data breach bill

The Senate has passed government legislation to create the National Cancer Screening Register, which will be established and operated by Telstra under a $220 million contract announced earlier this year.

Although establishing the register has bipartisan support, the government has come under fire for the decision to outsource it to Telstra. In particular, the decision to award the contract to the telco before parliament passed enabling legislation has been criticised.

Telstra has argued it is “well placed” to establish the register, and has said that it will deliver a platform that meets the government’s privacy and security requirements .

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