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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    View history reference

Division 83A - Employee share schemes    View history reference

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

Guide to Subdivision 83A-C

SECTION 83A-100  What this Subdivision is about  

 View history reference

If there is a real risk you might forfeit the share, right or stapled security you acquired under an employee share scheme, you don ' t include the discount in your assessable income when you acquired it. Instead, in the first income year you are able to dispose of the share, right or security, your assessable income will include any gain you have made to that time. If you cease employment earlier, or if 15 years pass, the gain is included in that income year instead.

This deferred taxing point can also apply to:

(a) a share or stapled security you acquire under salary sacrifice arrangements, if you get no more than $5,000 worth of shares under those arrangements; or
(b) a right, if the scheme restricted you immediately disposing of the right, and stated that this Subdivision applies.


TABLE OF SECTIONS

Main provisions
 83A-105Application of Subdivision
 83A-110Amount to be included in assessable income
 83A-115ESS deferred taxing point - shares
 83A-120ESS deferred taxing point - rights to acquire shares
 83A-125Tax treatment of ESS interests held after ESS deferred taxing points
Takeovers and restructures
 83A-130Takeovers and restructures


 



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