Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 208 - Exempting entities and former exempting entities  

Subdivision 208-G - Tax effects of distributions by exempting entities  

Operative provisions

SECTION 208-205  

208-205   Distributions to employees acquiring shares under eligible employee share schemes  

Division 207 also applies to a * franked distribution made by an * exempting entity if:

(a) the distribution is made to an individual who, at the time the distribution is made, is an employee of:

(i) the exempting entity; or

(ii) a * subsidiary of the exempting entity; and

(b) the employee acquired a beneficial interest in the * share on which the distribution is made:

(i) under an * employee share scheme; and

(ii) in circumstances specified as relevant in section 208-215 ; and

(c) the employee does not hold that beneficial interest as a trustee.