Employee share schemes (ESS) are plans used by businesses to provide an alternative option of payment through distributing company shares.Employees can receive their shares at a discounted price or can be given an opportunity by the business to purchase shares in the future.Employees who don’t receive shares at a discount, won’t have the ESS tax rules apply to them.Employees are eligible for tax concessions under the condition that both the business and employee have met the requirements of the Australian Tax Office (ATO).

Accounting

December 5, 2023

Being involved in Self-Managed Super Fund (SMSF) allows the members and the trustee to be take control of their retirement funds and manage it for their own benefits.Generally, being the trustee of an SMSF is accompanied with many responsibilities.To ensure your SMSF and retirement funds are running under a compliant model, you are encouraged as a trustee to constantly review and update the SMSF’s investment strategy to ensure an adequate level of funds at retirement.

Accounting

April 30, 2023