Employee Share Scheme Reporting - More Details
The information below is sourced from the ATO website and more details can be found here.
If you provide your employees or their associates with ESS interests under an employee share scheme (ESS) you have certain reporting obligations.
An ESS interest is either:
The ESS rules require you to provide us - and your employee - with details of your employee's ESS interests. This page explains what you need to provide to us and to your employees, and when you need to provide it.
If an associate of your employee acquires ESS interests which are provided for employment or services, the ESS rules require the employee - rather than the associate - to include the discount in their assessable income.
You must give your employee an ESS statement if:
An administrative penalty applies to providers who fail to provide the statement.
The information required on the ESS statement includes, but is not limited to, the following:
Reporting to the ATO
Lodgments for the 2015-16 onwards ESS annual report will only be accepted electronically.
The ESS annual report you provide to us must include, but is not limited to, the following information for each employee participating in an ESS and for each ESS that the employee is participating in:
When to report
Your Employee Share Scheme annual report is due 14 Aug each year.