EOA Deputy Chair Andrew Clements was quoted this morning in an article appearing in the Australian Financial Review.
The article ‘Employee share schemes get tax review’ is in relation to the upcoming inquiry into the tax treatment of employee share schemes by The Standing Committee on Tax and Revenue.
The committee will be chaired by Liberal MP Jason Falinski.
“Employee Ownership Australia deputy chairman Andrew Clements said the tax and regulatory systems needed to “promote, not prevent” broad-based employee equity.
“The tax and the corporate rules don’t support that because they’ve evolved without great co-ordination,” he said.
…Mr Clements said remaining problems included start-ups using an old, dormant shelf company being ineligible for the concessions, the 10 per cent equity cap for tax breaks, hurdles for retiring owners transferring their private companies to employees and the cost for companies to issue prospectuses for employee shares.”
The full article can be read here: https://www.afr.com/politics/federal/employee-share-schemes-get-tax-review-20200221-p5435e
EOA’s Submission to the Parliamentary Inquiry into the Tax Treatment of Employee Share Schemes
