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Legal database

Draft Taxation Determination

TD 93/D37

Income tax: employee share acquisition schemes: can a resident taxpayer participating in a foreign employee share acquisition scheme take advantage of a reduction in discount under subsection 26AAC(4F) of the Income Tax Assessment Act 1936?

  • Please note that the PDF version is the authorised version of this draft ruling.
    This document has been finalised by TD 93/60.

FOI status:

draft only - for comment

Preamble

Draft Taxation Determinations (TDs) present the preliminary, though considered, views of the ATO. Draft TDs may not be relied on; only final TDs are authoritative statements of the ATO.

1. Australian employees who receive shares in a foreign company under a scheme for the acquisition of shares by employees will be subject to provisions of section 26AAC.

2. If the Commissioner is satisfied that the "acquisition scheme" complies with all the requirements set out in subsection 26AAC(4A) at the time shares are issued or rights to acquire shares are granted, the employees will be able to take advantage of a reduction in discount.

3. The requirements of subsection 26AAC(4A) are set out in detail in Taxation Ruling IT 2516.

Commissioner of Taxation
18 February 1993

References


BO 92/6168-7

ISSN 1038 - 8982

Related Rulings/Determinations:

IT 2516

Subject References:
employee share acquisition scheme
foreign schemes
reduction of aggregate discount amount
resident employees

Legislative References:
ITAA 26AAC
ITAA 26AAC(4A)
ITAA 26AAC(4F)


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