Treasury has released an exposure draft package of the new taxation treatment of share and rights acquired under employee share schemes for comment. The package includes:
- an exposure draft version of Schedule 1 to Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009;
- an exposure draft version of Income Tax (TFN Withholding Tax (ESS)) Bill 2009;
- explanatory materials in support of those exposure draft Bills; and
- associated regulations (with some explanatory materials).
The exposure draft does not yet include application and transitional provisions. That part of the Bill is still under development and will be released as soon as it is complete.