Monique received an employee share scheme this year which she is excited about as she believes her company has a good future. Monique works for Blah Itd. as a full-time employee and received 1,000 Blah shares for $40 each when they were worth $60 on the market. Monique earns a total of $65,000 and does not have any additional superannuation outside the statutory guarantee amount she receives nor does she have any fringe benefit payments. The shares were offered with an obligation that they must be held for three years if still employed by the company. Provide a response including a full justification for each question below.

(a) Does Monique have extra obligations for her tax return this year? 

(b) Will Monique receive a $1,000 exemption? Full details of your reasons are required to fulfill the requirements of this question.

Answer rating: 100% (QA)

a Yes Monique does have extra obligations for her tax return this year due to her participation in the employee share scheme Employee share schemes ES... View the full answer