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

3   Section 83A-15

Omit:

You may be entitled to reduce the amount included in your assessable income if you meet certain conditions which seek to limit the concession to genuine schemes broadly available to all permanent employees who do not already have anything other than a minor interest in their employer.

The income year in which you are taxed may be deferred if there is a real risk of forfeiture, or you acquired the shares or securities under particular salary sacrifice arrangements (see Subdivision 83A-C).

substitute:

You may be entitled to reduce the amount included in your assessable income if you meet one of 2 sets of conditions.