| Employee Share Schemes |
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For shares and rights acquired after 7:30pm (AEST) on 12 May 2009, the eligibility to defer tax on a discount that relates to qualifying shares and rights will be removed.
As a result, discounts on all shares or rights (i.e., qualifying and non-qualifying) will be taxed in the income year the shares or rights are acquired. This measure will also limit the access to the upfront exemption (i.e., up to $1,000) to employees with a taxable income of less than $60,000 (after adjustment for fringe benefits, salary sacrifice and negative gearing losses). |