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.


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