2018 Employee Share Scheme Reporting – Are you ready?
05/06/2018
The Australian Taxation Office (ATO) has reporting obligations in place affecting those who offer Employee Share Schemes. Find out how our ATO-approved software can simplify your reporting obligations.
The Australian Taxation Office (ATO) have reporting obligations in place, affecting those who offer shares or share options to their employees. Employers can no longer lodge their Employee Share Scheme (ESS) reporting with the ATO using paper or by bulk load Excel spreadsheet. Lodgements will only be accepted electronically. The deadlines to comply with the reporting requirements are:
- ESS statements are due to be issued to employees by 14 July 2018
- ATO reports are due for lodgement with ATO by 14 August 2018.
What do the ATO reporting obligations mean for you?
| If you are an employer: | You will need to: | How can ShineWing Australia help? |
| Reporting <50 employees and no more than 3 schemes per employee (with an Australian ABN) |
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ShineWing Australia can help with the completion of the manual forms or producing ESS statements |
| Reporting >50 employees OR Reporting <50 employees (without an Australian ABN) |
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Our Complete Tax Solution ESS Toolkit can be used to assist clients with their ESS reporting requirements (further information below). |
| With globally mobile employees | Indicate on each employee’s ESS statement:
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Our Complete Tax Solution ESS Toolkit can be used to assist clients with their ESS reporting requirements (further information below). |
Innovative solution
ShineWing Australia has developed compliant software that has been approved by the ATO to enable employers to simplify their online annual employee share scheme reporting obligations.
We have developed the ‘Complete Tax Solutions Employee Share Scheme’ Toolkit (CTS ESS Toolkit) which can help you meet the ATO’s ESS reporting requirements. ShineWing Australia is one of only a handful or providers to have passed ATO testing and we have ATO approval for the software.
The table below outlines the types of companies that are most likely to benefit from using the CTS ESS Toolkit.
| Company profile | Conditions | |
| Large, privately owned company (>50 reportable employees) |
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| Head-quartered overseas (either >50 reportable employees or <50 if no ABN) |
With subsidiaries/employees in Australia particularly if:
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| ASX listed company |
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Next steps
Time is limited to make the necessary arrangements to comply with the ESS reporting requirements. The ATO is particularly keen to ensure corporates are compliant and providing timely and accurate reporting.
Now is the time to ensure your business is not left behind and you have everything in place ready for reporting season. We can provide a fully outsourced service or license our software; whichever you prefer.
To download a copy of this update, click here.
If you would like to discuss how to comply with the ATO reporting requirements, or learn more about how our ESS Toolkit will help you, please contact either Sam Morris or Justin Batticciotto on the details below:
