08 November 2016 New Zealand's refined proposals on taxation of employee share schemes discussed The New Zealand Inland Revenue Department (IRD) released an issues paper on May 12, which sets out a number of proposals for taxing employee share schemes (ESS). The IRD has now released a further consultation paper which provides a useful update on the proposals, and provides taxpayers the opportunity to make further submissions. The further consultation paper confirms that although approved IRD schemes will be retained, they will be amended in order to make them less restrictive and simpler to operate. Other main changes include an extension of the proposed grand-parenting provisions, and confirmation that the proposed new rules aimed at start-up companies will not be adopted. A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details. Document ID: 2016-1898 |
