a general comment, which is not really specific to sxg, suffice to say, the when watso was looking at the annual report for sxg, it seemed that the "remuneration" seemed to be high - sure, it was on the basis of option issues etc etc - but watso noticed the following
"High income earners have been ripping off taxpayers through a scheme that counts shares as income, Finance Minister Lindsay Tanner says.
The federal government has announced changes to the employee share ownership scheme that allows companies to grant shares, or the option to purchase them, to its workers.
Currently, participants can choose to pay tax on the shares up front or when they are sold.
But changes, outlined in the federal budget, will see participants only able to pay tax upfront.
Finance Minister Lindsay said the scheme had been used "primarily as a tax avoidance mechanism".
People were "ripping off taxpayers" by having a lower rate of tax on large portions of their earnings.
"(The scheme has been used) as a way of people being able to pay a lower rate of tax on what is simply their ordinary earnings," Mr Tanner told Network Ten.
"It effectively was an anomaly... creating an unfair advantage for some people and overwhelming higher income earners.""
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the above was from
http://news.ninemsn.com.au/article.aspx?id=814742
watso has attached the remuneration package for sxg employees - which totalled $1.88m dollars for the year. guess, that if tax has to b paid upfront on the issue of options (valued at $1.2m), then things will have to be done differently
SXG Price at posting:
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