S 139B repealed by No 133 of 2009, s 3 and Sch 1 item 18, applicable in relation to the ESS interests mentioned in subsections
83A-5(1)
and
(2)
of the
Income Tax (Transitional Provisions) Act 1997
. S 139B formerly read:
SECTION 139B DISCOUNT TO BE INCLUDED IN ASSESSABLE INCOME
139B(1)
If a taxpayer has acquired a share or right under an employee share scheme, the assessable income of the taxpayer includes the discount given in relation to the share or right.
Note:
Employee share scheme
is defined in section
139C
.
139B(1A)
However, for any period during which the taxpayer is a non-resident, the discount is not included under subsection (1) in the assessable income of the taxpayer to the extent that the discount is given in respect of, or for or in relation directly or indirectly to, the taxpayer's engagement in foreign service that relates to the acquisition of the share or right.
Note:
Foreign service
is defined in section
139GBA
.
History
S 139B(1A) inserted by No 64 of 2005. For application provision, see note under definition of
"
eligible foreign renumeration
"
in s
23AF(18)
.
139B(2)
When the discount is to be included.
Unless subsection (2A) or (3) applies, the discount is included in the taxpayer's assessable income of the year of income in which the share or right is acquired.
History
S 139B(2) amended by No 64 of 2005. For application provision, see note under definition of
"
eligible foreign remuneration
"
in s
23AF(18)
.
139B(2A)
Unless subsection (3) applies, if the taxpayer:
(a)
acquired the share or right while the taxpayer was not an employee; and
(b)
subsequently became an employee while holding the share or right;
the discount is included in the taxpayer's assessable income in the year of income in which, after the acquisition, the taxpayer first becomes an employee in respect of employment or services that affect the acquisition or holding of the share or right.
Note:
Subsection
139GA(2)
limits the meaning of
employee
in this subsection, so that engagement in foreign service is not of itself sufficient.
History
S 139B(2A) inserted by No 64 of 2005. For application provision, see note under definition of
"
eligible foreign remuneration
"
in s
23AF(18)
.
139B(3)
If the share or right is a qualifying share or right and the taxpayer has not made an election under section
139E
covering the share or right, the discount is included in the taxpayer's assessable income of the year of income in which the cessation time (see sections
139CA
and
139CB
) occurs.
History
S 139B(3) amended by No 64 of 2005. For application provision, see note under definition of
"
eligible foreign remuneration
"
in s
23AF(18)
.
S 139B inserted by No 169 of 1995.
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