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Exposure Draft - Taxation of Employee Share Schemes

Date:

Friday, 14 August 2009

Content ID:

1594

Abstract:

On 1 July 2009, the Government issued a Policy Statement, setting out the final taxation treatment of share and rights acquired under employee share schemes, to apply from that date.

On 24 July 2009, the Assistant Treasurer announced further industry consultations including release of an exposure draft and Board of Taxation consultation on technical aspects of the package.

An exposure draft package has been released for comment. The package includes:

  • an exposure draft version of Schedule 1 to Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009;
  • an exposure draft version of Income Tax (TFN Withholding Tax (ESS)) Bill 2009;
  • explanatory materials in support of those exposure draft Bills; and
  • associated regulations (with some explanatory materials).

The exposure draft of the first mentioned Bill does not yet include application and transitional provisions. That part of the Bill is still under development and will be released as soon as it is complete.

[For information on the Board of Taxation’s consultation on technical aspects of the rules see www.taxboard.gov.au.]

Making a submission

Interested parties are invited to comment on the draft guidelines. While submissions may be lodged electronically, by post or by facsimile, electronic lodgment is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence.  Automatically generated confidentiality statements in emails do not suffice for this purpose.  Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.  A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Monday, 31 August 2009

Address written submissions to:
Manager
Philanthropy and Exemptions Unit
Personal and Retirement Income Division
The Treasury
Langton Crescent
PARKES  ACT  2600

Email:  ESSreforms@treasury.gov.au

For inquiries, please call Chris Leggett on (02) 6263 3208

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Exposure Draft - Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009  109.73kb
Exposure Draft - Income Tax (TFN Withholding Tax (ESS)) Bill 2009  23.62kb
Explanatory Materials to Exposure Draft Bills  261.74kb
Exposure Draft - Income Tax Assessment Amendment Regulations 2009  35.24kb
Draft Explanatory Statement to the Income Tax Assessment Amendment Regulations  87.36kb
Exposure Draft - Income Tax Amendment Regulations 2009  11.76kb
Exposure Draft - Taxation Administration Amendment Regulations 2009  14.43kb

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Reform of the Taxation of Employee Share Schemes - 5/06/2009
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Submissions: Reform of the Taxation of Employee Share Schemes - 29/06/2009

Treasury received 65 submissions in response to the 'Reform of the taxation of employee share schemes' consultation paper. Fifty four of these are public submissions, and there are 12 confidential submissions. The public submissions are listed below and are accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

Exposure Draft - Taxation of Employee Share Schemes (Application and Transitional Provisions) - 15/09/2009
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Submissions: Exposure Draft - Taxation of Employee Share Schemes - 5/11/2009

Treasury received 25 submissions in response to the 'Reform of the taxation of employee share schemes' exposure draft package. There were 21 public submissions, and four confidential submissions. The public submissions are listed below and are accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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