Hi, can anyone tell me what the actual limits are in Oz for company share schemes.
For instance, in UK we CAN save (in a save as you earn scheme) upto £250/m, soon to change to £500/m with a 20% discount option price and 3 or 5 yr saving lengths.
Also we have the SIP schemes were we buy upto £125/m of shares each month pre-tax and are awarded so many shares for each we buy. Where I work it is buy 2 get 1 free. Previous employment was buy1 get 2 free. There are limits on the free shares but not sure what they are.
The SIP shares are tax free if held 5 yrs. The SAYE are CGT liable.
What are the Australian share scheme limits/tax rules? I have heard that the company I am being interviewd for a job by are giving 5 free shares for each you buy, so assume that is a similar scheme to the UK SIP scheme.
Cheers.