Exposure draft employee share plan legislation: few surprises, not much joy

The much anticipated new tax legislation for employee share plans was released on Friday and is to be tabled in Parliament during the current Spring sitting. The Senate Economics Committee report on this proposal was tabled yesterday. The Board of Tax is consulting on it tomorrow. It will significantly change the way employee equity is taxed. New limits on deferral, new reporting obligations, and no doubt new plan designs to accommodate the changes. For our full Tax Brief click here