Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-40 - RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS  

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History

Part 2-40 inserted by No 9 of 2007 , s 3 and Sch 2 item 1, applicable on and after 1 July 2007.

Division 83A - Employee share schemes  

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Div 83A inserted by No 133 of 2009, s 3 and Sch 1 item 1, effective 14 December 2009. No 133 of 2009, s 3 and Sch 1 item 87 contains the following transitional provision:

87 Transitional - regulations  
87
Despite subsection 12(2) of the Legislative Instruments Act 2003 , regulations that:

(a) are made for the purposes of Division 83A of the Income Tax Assessment Act 1997 ; or

(b) are made for the purposes of a taxation law (within the meaning of that Act) and relate to the amendments made;

may take effect from any time on or after 1 July 2009, if the regulations are made before the end of the period of 3 months commencing on 14 December 2009.

Subdivision 83A-C - Deferred inclusion of gain in assessable income  

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Subdiv 83A-C inserted by No 133 of 2009, s 3 and Sch 1 item 1, effective 14 December 2009.

Main provisions

SECTION 83A-110   Amount to be included in assessable income  

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83A-110(1)    
Your assessable income for the income year in which the *ESS deferred taxing point for the *ESS interest occurs includes the *market value of the interest at the ESS deferred taxing point, reduced by the *cost base of the interest.

Note:

Regulations made for the purposes of section 83A-315 may substitute a different amount for the market value of the ESS interest.

83A-110(2)    
Treat an amount included in your assessable income under subsection (1) as being from a source other than an *Australian source to the extent that it relates to your employment outside Australia.

Note:

For the CGT treatment of employee share schemes, see Subdivision 130-D .

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History

S 83A-110 inserted by No 133 of 2009, s 3 and Sch 1 item 1, effective 14 December 2009.

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