Employee Share Schemes - Guide released for Employees

Employee Share Schemes - Guide released for Employees

Are you?	- A member of an employee share scheme?
At a glance:	- A guide has been published by the Tax Office to assist employees engaged in an employee share scheme to understand how it affects their tax situation.
You should:	- Be aware of the ATO's guide on employee share schemes. - Contact us if you require any clarification or advice.

1.	In the May 2009 budget, the Federal Government announced changes to the way in which employee shares are treated for tax purposes
2.	The tax law contains specific provisions in relation to the tax treatment of assets received under an employee share scheme if the security received is at a discount.
3.	Securities that were not acquired under a discount will not be subject to the new provisions.
4.	The guide issued by the Tax Office deals with the following issues: - Terms participants of an employee share scheme need to understand; - The types of employee share schemes and their tax consequences; - What employees can expect from their employer in relation to the schemes; and - The capital gains implications of employee share schemes.
5.	To view the full guide click here, or visit the ATO website at www.ato.gov.au