Taxed at payment.

Taxable amount is amount of the cash payment.

Generally, yes, provided subsidiary bears the cost of award and certain other conditions are met.

Written agreement recommended.

Income Tax:
Withholding required including Medicare Levy (and, if applicable, surcharge).

Subsidiary must also report all taxable events to the Australian Tax Office on an annual basis on a prescribed form.

Social Insurance Contributions:
Yes, the employer must make quarterly superannuation contributions.

For offers made on or after October 1, 2022, a new self-executing exemption applies for awards granted for no consideration. A securities legend must be included in the award documents to reflect reliance on the exemption.

None.

Awards paid in cash through local payroll generally have increased plan entitlement risks, as well as other increased labor law risks such as the need to include amount in termination indemnities, obligation to consult works council, etc.

Written consent from employees for the transfer of data abroad is strongly recommended. Companies should check with their data privacy counsel to determine any other requirements (such as notification or registration obligations).