In this special Gilbert + Tobin Tax publication, we explore the key tax measures which have emerged in the Budget focussing on business taxpayers and those measures which have been announced for the first time on Budget night.
Prime Minister Malcolm Turnbull announced on 7 December 2015 the $1.1 billion "National Innovation and Science Agenda". With a stated vision of sparking an "ideas boom", the scheme looks to promote investment in business-based research, development and innovation over the next four years.
Legislation amending the taxation of employee share schemes today passed through the Senate without amendment, with the new rules to apply to shares or options issued to Australian employees on and after 1 July 2015.
On Wednesday 14 January 2015, the Minister for Small Business announced the release of Exposure Draft legislation and regulations containing amendments to the taxation arrangements of Employee Share Schemes (ESS) previously announced in October 2014.
Gilbert + Tobin is pleased to have advised Scott Kershaw, Amrit Bahra and Ryan Rabbitt from KordaMentha in relation to a dual-track IPO and trade sale process in respect of Arrium Limited’s (In Administration) mining consumables business (Moly-Cop).