Canadian government officials have introduced several new provisions for the year of 2021, including a new employee stock option tax structure, and new leave options. Beginning July 1,2021, eligible businesses will be offered a new structure for taxation of their Employee Stock Option. Preferential tax treatment may be applicable to some employees at an annual vesting max of CAD 200,000.
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Various provisions have been implemented in Australia for 2021 which have set-forth updated structures for tax, leave, and hiring restrictions. A new, lowered tax rate and raised tax threshold has been proposed by government officials in New South Wales, effective as of July 1,2020. This will be a provisional decrease in the rate in, and will put it at 4.85% for 2020-21 and 2021-22.
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Given the immense impact that the pandemic has had on travel and employment, government and finance officials have implemented several Covid-19 relief packages and LTC changes in India. The Indian Parliament has now passed 3 main labor reform bills for 2020; the Social Security code, the Industrial Relations Code, and the Occupational Safety, Health and Working Conditions Code.
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Ireland leave changes for 2020 include increases in unpaid parental leave time, and introduction of new paid sick and parental leave (CoVid-19) Bill. As of September 01, 2020, the unpaid parental leave time in Ireland has been raised from 22 weeks to 26 weeks per parent.
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