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
Division 83A
-
Employee share schemes
Subdivision 83A-A
-
Objects of Division and key concepts
SECTION 83A-5
83A-5
Objects of Division
The objects of this Division are:
(a) to ensure that benefits provided to employees under * employee share schemes are subject to income tax at the employees ' marginal rates under * income tax law (instead of being subject to * fringe benefits tax law); and
(b) to increase the extent to which the interests of employees are aligned with those of their employers, by providing a tax concession to encourage lower and middle income earners to acquire * shares under such schemes; and
(c) to increase the number of new entrepreneurial companies in Australia by assisting them to attract and retain employees by providing those employees with a tax concession for acquiring shares under such schemes.
View history note
Hide history noteThe objects of this Division are:
(a) to ensure that benefits provided to employees under * employee share schemes are subject to income tax at the employees ' marginal rates under * income tax law (instead of being subject to * fringe benefits tax law); and
(b) to increase the extent to which the interests of employees are aligned with those of their employers, by providing a tax concession to encourage lower and middle income earners to acquire * shares under such schemes; and
(c) to increase the number of new entrepreneurial companies in Australia by assisting them to attract and retain employees by providing those employees with a tax concession for acquiring shares under such schemes.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.