Welcome to the April 2010 issue of GuerdonNews®

In this issue we:

• Provide a checklist for the Productivity Commission recommendations impacting the nomination committee

• Invite board directors, institutional investors, company executives and regulators to our remuneration forum on 3 May

• Summarise the Australian Tax Office’s clarifications of share scheme tax law

• Alert you to the government's response to problems created with changes to taxing of offshore Australian resident employees announced in the 2009 Budget.

We conclude with the latest on executive and director remuneration disclosure updates available on the GuerdonData® on-line database and references to Guerdon Associates in the news media.

Executive pay inquiry will force the nomination committee to come in from the cold

This article provides a checklist

But remuneration committee members suffering from regulatory overload can take heart – this checklist is for your colleagues on the nomination committee.

Did you receive your invitation to the Remuneration Forum?

The Forum, in its fourth year, is open to board directors, institutional investors, company executives and regulators.

The Forum will take place in Melbourne on the morning of May 3.

Eric Mayne, Chairman of the ASX Corporate Governance Council, will be the initial speaker for Session 1 as the Council features in a number of the Commission's recommendations. APRA Member John Trowbridge will have a similar role for Session 2, as APRA's remuneration standards come into force for its regulated entities on April 1, focusing on guidelines for board remuneration committee capability.

The Australian Tax Office steps in to assist in the clarification of share scheme tax law

The absence of certainty in the employee share scheme tax legislation has meant that the Australian Tax Office (ATO) has had to make clear what the law does not.

ATO Interpretative Decision (ID) 2010/61 is a welcome development as it provides some much needed guidance on the meaning of a “real risk of forfeiture”, and allows companies to consider new employee equity plans aimed at attracting and retaining skills likely to be in very short supply.

Government clarifies tax for overseas-based Australian resident employees

On 1 April 2010 the government addressed implementation problems with the changes to the tax announced in the 2009 Budget.

On this occasion, the problems it attempts to address are for the tax treatment of Australian residents employed overseas.

Our Melbourne office has moved

But only a few doors up Collins Street

Guerdon Associates’ Melbourne office has relocated a few doors up Collins Street. It is now on the north east corner of Collins Street and William Street. Our new address and fax number is:

Level 3, 454 Collins Street
Melbourne, VIC 3000

Fax number: (03) 9670 0936

Our telephone number remains (03) 8319 4005.

Latest GuerdonData® Updates

Updates to GuerdonData® include disclosures from the following 43 companies:

Acrux Limited, Alumina Limited, AMP Limited, APN News & Media Limited, Aristocrat Leisure Limited, Ausenco Limited, Australand Property Group, AXA Asia Pacific Holdings Limited, Caltex Australia Limited, Catalpa Resources Limited, Charter Hall Office REIT, Charter Hall Retail Reit, Corporate Express Australia Limited, CSG Limited, Energy Resources Of Australia Limited, Galaxy Resources Limited, General Property Trust, Henderson Group Plc, Icon Energy Limited, Iress Market Technology Limited, Lihir Gold Limited, Macquarie Airports, Mcpherson's Limited, Navitas Limited, Nido Petroleum Limited, Northern Iron Limited, Oil Search Limited, Oz Minerals Limited, QBE Insurance Group Limited, Regis Resources Limited, Rio Tinto Limited, Sandfire Resources Nl, Santos Limited, Servcorp Limited, Specialty Fashion Group Limited, STW Communications Group Limited, Tap Oil Limited, Tox Free Solutions Limited, TPG Telecom Limited, Watpac Limited, WDS Limited, Westfield Group, White Energy Company Limited

Executive and director remuneration data from all ASX 300 companies on GuerdonData® is available to any subscriber. Visit our website for more information on GuerdonData®.

Assess how easily you can find out director and executive pay information by viewing our 6 minute demo. Click on the “More Info” button below.

Guerdon Associates in The News

“Making remuneration reports PC”, Australian Institute of Company Directors, Board Report, 24 March 2010, Volume 6, Issue 5, p.3