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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Fringe benefits

63B: Disclosure requirements for exempt ESSs

You could also call this:

"Telling the Commissioner about your company's employee share scheme"

Illustration for Tax Administration Act 1994

You need to tell the Commissioner if your company has an exempt Employee Share Scheme for its employees that meets certain criteria in section CW 26C(2) to (9) of the Income Tax Act 2007. You must do this in a form that the Commissioner says you must use. You have to give the Commissioner some information every year, like what shares were given to employees. You have to give the Commissioner this information on or before 31 May each year. This is so the Commissioner knows what is happening with your company's Employee Share Scheme. You must give the Commissioner any other information they require. You must follow these rules if your company has an exempt Employee Share Scheme. The Commissioner will tell you what form to use to give them the information. You have to do this every year to keep the Commissioner informed.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS32667.

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Part 3Information, record-keeping, and returns
Returns: Fringe benefits

63BDisclosure requirements for exempt ESSs

  1. A company must notify the Commissioner, in the form prescribed by the Commissioner, that there is an exempt ESS for its employees that meets the criteria in section CW 26C(2) to (9) of the Income Tax Act 2007.

  2. For a tax year, a company that has an exempt ESS for its employees must notify the Commissioner annually, in the form prescribed by the Commissioner, of the following:

  3. grants of shares made to employees for the tax year:
    1. any other information required by the Commissioner.

      1. The form described in subsection (2) must be given to the Commissioner on or before the 31 May following the end of the relevant tax year.

      Notes
      • Section 63B: inserted, on , by section 327 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).