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  • Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Condition 2

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    ESS interests acquired after 30 June 2009 through a tax-deferred scheme with no taxing point during 2012-13

    You are required to report ESS interests acquired under a tax-deferred scheme only in the financial year when the deferred taxing point happens.

    You do not need to report any information to us, or your employee, if both the following apply:

    • Your employee acquired ESS interests under a tax-deferred scheme during 2012-13.
    • The deferred taxing point did not occur during 2012-13.

    Authorised wording for reduced ESS statements

    If you choose to provide your employee with a reduced ESS statement then you must use the following authorised wording:

    During 2012-13, you acquired employee share scheme interests in a tax-deferred employee share scheme. You do not need to report information about these interests on your 2013 tax return as a taxing point did not occur in 2012-13.
    When a taxing point does arise in a future financial year, you will receive an ESS statement to help you complete your tax return for that year.

    Example

    On 5 February 2013, Happy Snapz Ltd gives their employee, Olivia, 200 shares under a tax-deferred scheme. There is no deferred taxing point for these shares during 2012-13. Happy Snapz Ltd is not required to report any information to the ATO.
    Happy Snapz Ltd gives Olivia a document before 14 July 2013, as follows:
    During 2012-13, you acquired employee share scheme interests in a tax-deferred employee share scheme. You do not need to report information about these interests on your 2013 tax return as a taxing point did not occur in 2012-13.
    When a taxing point does arise in a future financial year, you will receive an ESS statement to help you complete your tax return for that year.

    During 2014-15, a deferred taxing point happens to Olivia's shares. Happy Snapz Ltd gives Olivia information about the ESS interests and the discount at the deferred taxing point in an ESS statement by 14 July 2015. They also lodge an ESS annual report by 14 August 2015 with the ATO.

      Last modified: 25 Jun 2013QC 35310