The government is set to make changes to legislation covering employee share schemes, proposing to double the current limit to allow companies to offer employees up to $10,000 each year.
The Australian Taxation Office (ATO) has released a set of standard document templates to help startups establish and operate an Employee Share Scheme following amendments to the regulation of the scheme passed by the Senate last week.
Abbott government introduces $400M industry policy, including $200M tax break for employee share schemes
The stringent tax rules relating to employee share programmes is finally meeting its timely demise, a win for the Australian startup community. The Abbott government has today confirmed that it will introduce a $200 million tax break for employee share schemes, invest $188.5 million into innovation centres, and amend the 457 visa programme, as part of a $400 million industry plan.
Responding to concerns raised by startups, the Australian Government has decided to review tax rules surrounding employee share options.