Australia - 2011 Employee Share Scheme reporting for employees in Australia

Global Watch ()

The deadlines for 2011 Employee Share Scheme (ESS) reporting are fast approaching. Employers (including foreign employers) who provide ESS interests (such as discounted shares, share rights or options) to their Australian employees, are likely to be required to provide an ESS statement to their employees by July 14, 2011, and an ESS annual report to the Australian Taxation Office (ATO) by August 14, 2011. As this is only the second year of ESS reporting in Australia, there is still uncertainty about the application of the reporting obligations and many global companies may find it difficult to fulfil these obligations.