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Maximise tax benefits with Employee Share Schemes. Stay compliant with ESS reporting. Retain top talent with effective remuneration.

During the FY23 financial year, our Employment solutions team highlighted key updates, issues and ATO review activity that finance and payroll leaders need to be across in a series of webinars, seminars and insights. Here we’ve summarised some of those key items which remain relevant as we approach FY24 including fringe benefits, single touch payroll, superannuation guarantee, employee vs contractor and employee share schemes.

In 2022, Australia’s ‘perfect storm’ of low unemployment has required Australian businesses to think differently about how to attract and retain workers

Both the ATO and the State Revenue Offices have a number of focus areas putting employment taxes squarely on the agenda again.

A favourite instrument for start-ups and companies about to list – Employee Share Schemes are used far more widely than most people think.

As the end of financial year approaches, companies with Employee Share Schemes (ESS) are required to report to the ATO and provide employees with a statement if a “taxing point” has occurred during the tax year.

The proposed changes to both the tax treatment and regulatory framework of employee share schemes (‘ESS’) in Australia should be welcomed by employers and employees with tax–deferred ESS Plans.

Has your company (or parent company) provided free or discounted shares or rights to receive shares to employees, directors or individual consultants (Employees), or their nominees, during the 2018 income year?

Employee share schemes (ESS) have come in and out of favour over the years, but improvements in the general economic climate in Australia combined with the recent introduction of a range of tax and company law concessions in this area mean that the time is definitely right for mid-size businesses to take another look at introducing a tailor-made ESS arrangement.