Taxation Laws Amendment Act (No. 2) 1995 (169 of 1995)

Schedule 2   EMPLOYEE SHARE SCHEMES

Part 2   FRINGE BENEFITS TAX ASSESSMENT ACT 1986

9   Subsection 136(1) (definition of fringe benefit)

After paragraph (h), insert:

"(ha) a benefit constituted by the acquisition by a person of a

share or right under an employee share scheme (within the meaning of

Division 13A of Part III of the Income Tax Assessment Act 1936);

(hb) a benefit constituted by the acquisition by a trust of money or

other property where the sole activities of the trust are obtaining

shares, or rights to acquire shares, in a company (the employer), or a

holding company (within the meaning of the Corporations Law) of the

employer, and providing those shares or rights to employees of the

employer;".