Employee share scheme (ESS) annual report specification v2.0.0

Version: 

2.0.0

Original Published Date: 

09/12/2015 - 01:00pm

Status: 

  • Current

Tax Category: 

  • Payroll
  • Tax preparation
  • Business accounting
  • Investment bodies

Resource Type: 

  • Specifications

Description: 

The following electronic reporting specifications have been released as a final version in both tracked and clean versions:

  • Electronic reporting specification – Employee share scheme (ESS) annual report version 2.0.0.
  • Electronic reporting test scenario – Employee share scheme (ESS) annual report version 1.0.1
  • Electronic reporting specification – Self-printing employee share scheme statement – Employee summaries version 1.0.1
  • Electronic reporting test scenario – Self-printing employee share scheme statement – Employee summaries version 1.0.1
  • ESS amended self-print window faced template
  • ESS self-print window faced template
  • ESS amended self-print z fold template
  • ESS self-print z fold template

These specifications and templates are to be used in the development of software for the electronic lodgment of the Employee share scheme (ESS) annual report and self-printing of ESS statements for the 2016 and subsequent financial years.

Changes to the reporting specification  have been made to cater for amendments the Income Tax Assessment Act 1936, Income Tax Assessment Act 1997, Income Tax (Transitional Provisions) Act 1997 and Taxation Administration Act 1953 in relation to the taxation of employee share schemes by: amending the taxing point for rights for employees of all corporate tax entities; and providing an additional tax concession for employees of certain small start-up companies; and the Income Tax Assessment Act 1997 to: enable the Commissioner of Taxation to approve a method for determining the market value of an asset or non-cash benefit for income tax purposes; and make technical amendments. .

 A comprehensive list of changes can be found in the commencing section ‘Changes in this version of the specification’ of the electronic reporting specification.

Resource Attachments