On 12 June 2013, the Government released Advancing Australia as a Digital Economy: Update to the National Digital Economy Strategy. A copy of the update is available on the National Broadband Network website.
As part of this process, the Government announced that it will review the policy settings around employee share schemes. By December 2013, the Government will consult with stakeholders to determine the most effective measures to address the barriers faced by start‑up companies, including:
- developing guidance to reduce the administrative burden (meaning the cost of valuing shares and options) of establishing an ESS;
- adjusting the valuation methodology of options; and
- examining the point at which share options are taxed for start-up companies.
The review will be conducted by The Treasury and the Department of Industry, Innovation, Climate Change, Science, Research and Tertiary Education. A discussion paper will be released. To register your interest to receive a copy of the discussion paper and to participate in the consultations, please send your contact details to ess@treasury.gov.au.