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-125  

83A-125   Tax treatment of ESS interests held after ESS deferred taxing points  

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For the purposes of this Act (other than this Division), the *ESS interest (and the *share or right of which it forms part) is taken to have been acquired immediately after the *ESS deferred taxing point for the interest for its *market value, unless the ESS deferred taxing point occurs at the time the interest is disposed of.

Note:

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

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S 83A-125 inserted by No 133 of 2009, s 3 and Sch 1 item 1, effective 14 December 2009.

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