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EFES NEWSLETTER - DECEMBER 2023
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Employee
Ownership is finally coming to Canada!
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Canadian colleagues were calling for three things:
• A dedicated Employee
Ownership Trust in the income tax act that would provide
ownership benefits to all employees at no cost to them.
• A regulatory structure
that ensured benefits would go to workers.
• And tax incentives
to encourage owners to sell their businesses to their
employees, as they do in the US and the UK.
In its Fall Economic Statement, the Federal government
delivered meaningful tax incentives, and their policy
now includes all three.
Canada's employee ownership policy is thus coming together
very well, and significant uptake should be seen as
soon as 2024.
Simply a revolution in employee ownership for SMEs in
Canada.
More
info
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Echternach
procession in Germany
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Until now, Germany has never succeeded to fully embrace
employee share ownership. Even the words are still lacking
to describe it.
In 2021, tax incentives were multiplied by four, to
€1,440 instead of 360. With what result? Zero.
Two years later, new political debate. This time we
were going to see what we were going to see. 5,000€
decided the Federal Government, promised sworn.
Finally,
the German Parliament decided, it will only be 2,000€.
Three steps forward, two steps back, like in the Echternach
procession. Germany is progressing, but we are still
far from a real employee share ownership policy.
More
info
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Press
review
We
have a selection of 28 remarkable articles in 9 countries in
November 2023: Belgium,
Canada, Germany, France, Hungary, Italy, Slovenia, UK, USA.
Belgium:
Technord is a pioneering company for employee ownership in Belgium.
Canada: Employee ownership is coming to Canada.
Germany: Echternach procession for employee ownership
in Germany.
France: Successful employee share plans for Renault,
for Softfluent, for Axa, for Capgemini.
Hungary: Tax exemption for employee share plans in startups
from January 1, 2024.
Italy: New global employee share plan for Ferrari.
Slovenia: Towards new laws for employee share ownership
and for employee ownership in Slovenia.
UK: Thanks to the Employee Ownership Trust scheme, every
day a new SME is transferred to employees. This month, among
others, the case of: Raynor Foods, Pratap Recruitment, East
on Media Solutions, Miller Research, True Fostering, Goodman
Nash, Generation Media, 2LK Marketing, Acme Architects, ABC
Glass Processing, Swift Research.
USA: Five things employee owners need to know about their
ESOP.
The full press review is available
on:
https://www.efesonline.org/PRESS
REVIEW/2023/November.htm
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A
political roadmap for employee ownership in Europe
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