2022 Employee Share Scheme (ESS) Tax Reporting

1 Jun 2022

With 30 June fast approaching, now is the time to start preparing for your 2022 employee share scheme (ESS) tax reporting obligations.

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

The ATO has a number of requirements which must be met by all organisations operating employee share schemes involving the grant of shares, options and rights. In 2022, the ATO has also implemented several 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 can be triggered by the grant, vesting or exercise of employee equity. Under Australian legislation, a taxing point may also arise if non-vested employee equity remains on foot after the termination of employment;
  • Providing an ESS statement to participants by 14 July 2022; and
  • Lodging an ESS annual report to the ATO, electronically and in the approved format, by 14 August 2022.

Speak to our team of experts today if you would like to find out more about how BoardRoom can assist you with ESS Tax reporting.

Contact BoardRoom for more information:

David Park

Business Development Manager

+61 2 9290 9658