2019 Employee Share Scheme (ESS) Tax Reporting – Are you ready?

17 Jun 2019

Does your organisation have employee share schemes?

Are you ready to meet your ATO reporting obligations by 14 July 2018?

With 30 June fast approaching, now is the time to start preparing for your 2019 employee share scheme (ESS) tax reporting obligations.

The ATO has a number of requirements which must be met by all organisations who operate employee share schemes involving the grant of shares, options and rights. In 2019, the ATO has also implemented a number of changes to the format in which ESS data must be reported.

Failure to meet these obligations may result in administrative penalties.

Reporting obligations include:

  • correctly identifying taxing points in accordance with relevant legislation. Taxing points could be triggered by the grant, vesting or exercise of employee equity. Taxing points may also arise if employee equity remains on foot after the termination of a participants employment.
  • providing an ESS statement to participants by 14 July 2019
  • lodging an ESS annual report to the ATO, electronically and in the approved format, by 14 August 2018

BoardRoom can take the hassle out of tax time. Our experienced Employee Plan Services team can assist you with meeting your obligations in a fast, efficient and cost-effective manner.

If you would like to find out more about how BoardRoom can assist you with ESS reporting, please contact me on (02) 9290 9666 or email keshwan.nair@boardroomlimited.com.au by 25 June 2019.

Contact BoardRoom for more information:

Keshwan Nair

Head of Unlisted Fund Services

+61 2 9290 9666