Global Rewards Update: Australia - 2 July 2009Employee share plans - Final proposed changes |
This is a further update to the Global Rewards Updates of May and June 2009. On 1 July 2009, Australia's federal government released its final position on the proposed changes to the tax treatment of Employee Share Schemes (ESSs), following significant feedback from business and unions to the consultation paper and amending legislation issued on 5 June 2009.
The new statement confirms most of the positions outlined in the consultation paper, most notably that the proposed new measures will apply to shares and rights (such as options) acquired on or after 1 July 2009. As previously announced, the existing law will apply to all shares and rights acquired before 1 July 2009.
For more details, please download the alert below.
Global Rewards Update - Australia
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