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

18   At the end of section 83A-105

Add:

Scheme's rules state that this Subdivision applies

(6) This subsection applies to an *ESS interest you acquire under an *employee share scheme during an income year at a discount if:

(a) the interest is a beneficial interest in a right; and

(b) at the time you acquired the interest:

(i) the scheme genuinely restricted you immediately disposing of the right; and

(ii) the governing rules of the scheme expressly stated that this Subdivision applies to the scheme (subject to the requirements of this Act).