On 14 October 2014, the Minister for Industry and the Prime Minister jointly announced the Industry Innovation and Competitiveness Agenda. The report includes a proposal to improve taxation arrangements for Employee Share Schemes. The proposal considers changing the taxation point for options in employee share schemes and allowing start-ups to offer options and shares at a small discount that will generally be exempt from up-front taxation. These changes intend to increase the number of employees participating in Employee Share Schemes. The proposal has been assessed by the Office of Best Practice Regulation (OBPR) as likely to have a measurable but contained impact on the economy with no impacts on competition. A Regulation Impact Statement has been prepared by the Treasury for consultation. Consultations on this RIS are now open and will close on 6 February 2015. If you wish to provide feedback on the analysis within the RIS, please send an email to ess@treasury.gov.au. The RIS has been certified by the Treasury and was subject to an early assessment by the OBPR.
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