The Minister for Small Business has announced the release of Exposure Draft legislation and regulations containing amendments to the taxation arrangements of employee share schemes previously announced in October 2014. The aim of the proposed law is to support innovative start-up companies in Australia, and to improve the taxation arrangements for employee share schemes to be more internationally competitive. Submissions on the Exposure Draft legislation and regulations are due by 6 February 2015. We will continue to monitor the progress of the proposed changes.
For further details of the Exposure Draft legislation and regulations, see G+T Updates in Tax Alert dated 19 January 2015.