There is building momentum for the Federal Government to change laws which currently apply to employees share schemes to counter the problems arising from previous changes made in 2009, and as a result, to increase the level of employee participation in employee share schemes in Australia.
Recent reports in mainstream media publications have stated that within weeks the Federal Government will revoke the controversial 2009 employee share schemes tax changes introduced by the Labor Rudd government and may also look to introduce new reforms borrowed from the United Kingdom, particularly from "Sharesave" schemes which have operated there for a number of years. These changes will form part of the Federal Government's broader National Industry Investment and Competitiveness Agenda, which will look to drive research and development and other innovation initiatives.
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