Income Tax Assessment Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-40
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RULES AFFECTING EMPLOYEES AND OTHER TAXPAYERS RECEIVING PAYG WITHHOLDING PAYMENTS
Division 83A
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Employee share schemes
Subdivision 83A-A
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Objects of Division and key concepts
SECTION 83A-5
83A-5
Objects of Division
The objects of this Division are:
(a) to ensure that benefits provided to employees under *employee share schemes are subject to income tax at the employees ' marginal rates under *income tax law (instead of being subject to *fringe benefits tax law); and
(b) to increase the extent to which the interests of employees are aligned with those of their employers, by providing a tax concession to encourage lower and middle income earners to acquire *shares under such schemes; and
(c) to increase the number of new entrepreneurial companies in Australia by assisting them to attract and retain employees by providing those employees with a tax concession for acquiring shares under such schemes.
View history note
Hide history noteThe objects of this Division are:
(a) to ensure that benefits provided to employees under *employee share schemes are subject to income tax at the employees ' marginal rates under *income tax law (instead of being subject to *fringe benefits tax law); and
(b) to increase the extent to which the interests of employees are aligned with those of their employers, by providing a tax concession to encourage lower and middle income earners to acquire *shares under such schemes; and
(c) to increase the number of new entrepreneurial companies in Australia by assisting them to attract and retain employees by providing those employees with a tax concession for acquiring shares under such schemes.
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