Under the new rules for employee share ownership announced as part of the Industry, Innovation and Competitive Statement by the Federal Government last week, the Treasurer will consult with industry to ensure that the draft legislation delivers the intended outcome, with the legislation intended to come into effect for shares or options provided from 1 July 2015. The Australian Taxation Office will also work with industry to develop and approve standardized documentation that will streamline the process of establishing and maintaining an employee share scheme. The Australian Securities & Investments Commission is to be consulted as well, given their oversight of disclosure documents that involve the offer of financial products.
For more information, see: http://www.dpmc.gov.au/publications/Industry_Innovation_and_Competitiveness_Agenda/employee_share_schemes.cfm
