In the June edition of Cents & Sensibility, we noted that the Government made a significant and controversial announcement, proposing to introduce new changes to the income tax concessions available to participants in an employee share scheme (“ESS”), intending to apply to shares and rights acquired under an ESS on or after 1 July 2009.
On 5 June 2009, the Government released a consultation paper to modify the changes to the taxation of an ESS announced in the Budget.
