Income Tax Assessment (1997 Act) Regulations 2021

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

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

Division 83A - Employee share schemes  

Subdivision 83A-E - Miscellaneous  

SECTION 83A-315.01   VALUE OF CERTAIN ESS INTERESTS  

83A-315.01(1)    
For the purposes of subsection 83A-315(1) of the Act, the amount specified, in relation to an ESS interest that is an unlisted right that must be exercised within 15 years after the day when the beneficial interest in the right was acquired is, at the choice of the individual:

(a)    the market value of the right; or

(b)    the value worked out in accordance with sections 83A-315.02 to 83A-315.09 .

Note:

The meaning of market value is affected by Subdivision 960-S of the Act. For example, section 960-410 affects how the market value of a non-cash benefit is worked out.

83A-315.01(2)    
However, if the deferred taxing point for the ESS interest is:

(a)    the day when the individual disposes of the interest (other than by exercising the right); or

(b)    if the individual exercises the right - the day when the individual disposes of the beneficial interest in the share acquired by exercising the right;

the amount specified in relation to the right is the market value of the right or share acquired by exercising the right.