Treasury Laws Amendment (Cost of Living Support and Other Measures) Act 2022 (14 of 2022)

Schedule 4   Employee Share Schemes

Corporations Act 2001

35   Subsection 1274(2AA)

Repeal the subsection, substitute:

(2AA) For the purposes of subparagraph (2)(a)(iva), the conditions are the following:

(a) no equity interests in any of the following companies are listed for quotation in the official list of any approved stock exchange at the end of the issuing body corporate's most recent income year (the pre-lodgement year ) before the income year in which the relevant document mentioned in subparagraph (2)(a)(iva) is lodged with ASIC:

(i) the issuing body corporate;

(ii) any subsidiary of the issuing body corporate at the end of the pre-lodgement year;

(iii) any holding company of the issuing body corporate at the end of the pre-lodgement year;

(iv) any subsidiary of a holding company of the issuing body corporate at the end of the pre-lodgement year; and

(b) the issuing body corporate had an aggregated turnover not exceeding $50 million for the pre-lodgement year.