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-E - Miscellaneous  

SECTION 83A-340   Application of Division to indeterminate rights  

83A-340(1)  
This section applies if:

(a) you acquire a beneficial interest in a right; and

(b) the right later becomes a right to acquire a beneficial interest in a *share.

Example 1:

You acquire a right to acquire, at a future time:

(a) shares with a specified total value, rather than a specified number of shares; or

(b) an indeterminate number of shares.

Example 2:

You acquire a right under which the provider must provide you with either ESS interests or cash, whichever the provider chooses.

83A-340(2)  
This Division applies as if the right had always been a right to acquire the beneficial interest in the *share.