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-A - Objects of Division and key concepts  

SECTION 83A-5   83A-5   Objects of Division  


The objects of this Division are:


(a) to ensure that benefits provided to employees under *employee share schemes are subject to income tax at the employees ' marginal rates under *income tax law (instead of being subject to *fringe benefits tax law); and


(b) to increase the extent to which the interests of employees are aligned with those of their employers, by providing a tax concession to encourage lower and middle income earners to acquire *shares under such schemes; and


(c) to increase the number of new entrepreneurial companies in Australia by assisting them to attract and retain employees by providing those employees with a tax concession for acquiring shares under such schemes.


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