Back to the future and beyond
Source: Australian Tax Forum Journal Article
Published Date: 1 Mar 2015
Australia's rules for taxing benefits under employee share schemes in Div 83A of the Income Tax Assessment Act 1997 have been subject to much criticism, particularly by start-up companies and the venture capital industry. The Government under its new Industry Innovation and Competitiveness Agenda proposes to reform the rules for taxing such benefits from 1 July 2015.
This article examines how the current rules in Div 83A operate and analyses how the Government's proposed reforms are intended to change the way in which benefits under ESSs will be taxed. The article compares the policy rationale that underpins both the current and proposed regimes and focuses on how the current and proposed rules affect start-up companies.
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Details
- Published By: Stephen Barkoczy
- Published On:1 Mar 2015
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