The Government has released exposure draft legislation which would amend the income tax law to improve the tax treatment of employee share schemes as part of the Industry Innovation and Competitiveness Agenda. Here is the link to the consultation paper (click here)
The High Court has confirmed that a trustee cannot rely on a its general trustee powers to make an in specie distribution of assets to unit holders in a managed investment scheme without their consent. In Wellington Capital Limited v Australian Securities and Investments Commission [2014] HCA 43, the High Court dismissed an appeal from a decision […]
7 November 2014 Yesterday, ASIC amended Class Order 12/749 to extend the interim relief from the shorter PDS regime for certain funds that was due to expire on 30 June 2015. The relief will now expire on 30 June 2016, pending the outcome of the Financial System Inquiry and further work by the Government on the shorter PDS […]
31 October 2014 Today, ASIC released a revised policy and new class orders dealing with employee share schemes. While the revised policy will continue to extend existing benefits to listed companies, ASIC has added new disclosure relief for unlisted companies wishing to offer incentives to their employees. To read the media release and updated policy, click the following link: http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2014-releases/14-287mr-asic-update-of-employee-incentive-scheme-policy-and-release-of-class-orders/ […]