Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 (133 of 2009)

Schedule 1   Employee share schemes

Part 2   Consequential amendments

Income Tax Assessment Act 1997

65   Subsection 855-45(4)

Repeal the section, substitute:

(4) This section does not apply to an *ESS interest if:

(a) Subdivision 83-C (about employee share schemes) applies to the interest; and

(b) the *ESS deferred taxing point for the interest has not yet occurred.