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Posts Tagged ‘tax’
news Corporate and technology consulting firm Deloitte has proposed a set of concrete definitions and rules that would substantially change the way the Australian Taxation Office deals with the contentious issue of employee share schemes for Australian startup companies.
The issue has been a long-running one affecting Australia’s rapidly growing IT startup sector, particularly as the latest wave of companies, including companies such as Freelancer and Atlassian, grow and seek to take at least a portion of their stock public. Startup executives have regularly criticised the Government’s stance on the issue, which is seen as unfavourable compared with the more liberal taxation policies of other countries such as the UK and US.
The last set of key changes made to taxation law in the area took place back in 2009, when Labor sought to rein in the ability of some employees to achieve better rates of taxation by placing some of their remuneration in company stock. Labor had sought to examine the issue before the September Federal Election, but did not take timely action to address the concerns. Continue…
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Zero tech/media experience
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