Tax and Superannuation Laws Amendment (Employee Share Schemes) Act 2015 (105 of 2015)

Schedule 1   Improvements to taxation of employee share schemes

Part 1   Main amendments

Income Tax Assessment Act 1997

38   At the end of section 768-915

Add:

(2) Subsection (1) does not apply in relation to *CGT event I1 if:

(a) the CGT event happens in relation to an *ESS interest that is a beneficial interest in a right (or to a *share acquired by exercising such a right); and

(b) the provisions referred to in paragraphs 83A-33(1)(a) to (c) (about start ups) apply to the ESS interest.