12 July 2021 | Employee Share Schemes (ESS) | Alan Jessup
- Description
- Curriculum
- Reviews
Topic: Employee Share Schemes (ESS)
ESS are schemes which enable employees to participate in the employer company. However there are a variety of ways of implementing such schemes all with their own set of tax rules and complications. There are traps for “young players”.
In part, some of the issues which arise are because of competing policy aims by the Federal Government.
The first aim of the income tax rules is to ensure that taxpayers are taxed consistently regardless of the forms of remuneration they receive. This means that taxpayers who receive value from an employee share scheme should be taxed in the same way as they would have been taxed if they had received another form of remuneration such as wages.
The second aim of the income tax rules is to give some recognition to the economic benefits that arise from employee share schemes. These economic benefits arise from the alignment of employee and employer interests that occurs with such schemes. The benefits are considered to give rise to positive working relationships, boost productivity through greater employee involvement in the business, reduces staff turnover and encourages good corporate governance. Therefore there are certain concessions contained in the income tax rules in relation to taxation of the value obtained by employees from such schemes.
This talk is intended to run through these rules to assist the attendees with their practices when advising their clients on various options available to them in implementing such schemes. It will cover both the income tax and Corporations Act requirements.
Guest Speaker: Mr Alan Jessup – Partner – Piper Alderman
Alan has significant experience in both the corporate law and taxation requirements associated with managed investment schemes of many types, including property trusts and syndicates, mortgage trusts, mezzanine funds and agribusiness schemes.
He also provides advice on tax effective structuring for the acquisition, holding and sale of assets involving use of various reliefs and exemptions in the law. He focuses on major corporate reconstructions, demergers, mergers and consolidations, cross border acquisitions and dealings, employee share schemes and estate planning and asset protection for individuals.
Alan does both front-end and back-end tax work including rulings and opinions, objections and appeals. He is a regular presenter of seminars on various aspects of the financial services laws, managed investment schemes and income tax.
Alan is the author of the book “Managed Investment Schemes” published by Federation Press.
This session will be started with Mr Antonio Dinardo, NSW Regional Manager from Pacific Eastcoast to provide an investment update for practitioners at 5:30 pm.
Continuing Professional Development Point (CPD Point)
- This event will account for up to a maximum of one and half (1.5) CPD Hours per session.
- A completion certificate will be issued via LMS after the event for attendances who check in with our staff and you have attended the session for more than thirty-five (35) minutes. We are unable to issue a certificate unless we have a record of your attendance.
- Attendance records will be provided to CPA Australia, however, it is up to you to update your own CPD records/CPD Diary. We cannot update the same for you.
- You may wish to update your profile with us to include your CPA Membership number which we will report to CPA Australia accordingly.
- You should only claim for the attended hours only.
