Employee share scheme changes
The ATO has announced that, from 1 July 2015, there are new rules for the tax treatment of employee share schemes (ESSs), as well as tax concessions for start-up companies.
The ESS changes allow employees to now own up to 10% of shares in their employer company (up from 5%).
Under the new rules, if shares are acquired in a start-up company at a discount of up to 15% (relative to market value), then the discount is exempt from CGT and income tax.
Any subsequent capital gain is therefore calculated on the market value when the share was acquired.
|READMORE|