« Private health insurers governance standards | Main | Consolidated Trade Practices Act »

Further consultation on employee share schemes

The Assistant Treasurer, Senator Nick Sherry, has released the timeframes for the final round of industry consultations on reforms to the taxation of employee share schemes, including releasing the Terms of Reference for the Board of Taxation review component.

As set out in the final Policy Statement of 1 July 2009, the Government will undertake a three-stage consultation process.

The three stages are:

  • a two-week consultation period on a draft Exposure Bill beginning in August;
  • a Board of Taxation consultation on technical issues to report to the Assistant Treasurer within approximately one month of the release of the draft Exposure Bill; and
  • a comprehensive Board of Taxation review on two further substantive issues to report to the Assistant Treasurer by 28 February, 2010.

Following the first two stages of this consultation process, it is envisaged legislation based on the policy statement will be introduced into Parliament in the Spring sittings.

The Board of Taxation's review is the third stage of the consultation process. The issues before the Board are:

  • how to best determine the market value of employee share scheme benefits; and
  • whether shares and rights under an employee share scheme at a start-up, R&D or speculative focused company should have separate tax deferral arrangements.

July 24, 2009 in Tax | Permalink

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341d4c5453ef0115722ce2e1970b

Listed below are links to weblogs that reference Further consultation on employee share schemes:

Comments

The comments to this entry are closed.