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-D - Deduction for employer  

Operative provisions

SECTION 83A-205   Deduction for employer  

83A-205(1)    
You can deduct an amount for an income year if:


(a) during the year you provided one or more *ESS interests to an individual under an *employee share scheme; and


(b) you did so as:


(i) the employer of the individual; or

(ii) a holding company (within the meaning of the Corporations Act 2001 ) of the employer of the individual; and


(c) section 83A-35 applies to reduce the amount included in the individual ' s assessable income under subsection 83A-25(1) in relation to some or all of the interests.

83A-205(2)    
Disregard paragraph 83A-35(2)(b) (income test) for the purposes of paragraph (1)(c) of this section.

83A-205(3)    
The amount of the deduction is the amount of the reduction mentioned in paragraph (1)(c).

Deduction to be apportioned if interest provided by multiple entities

83A-205(4)    
The amount of the deduction worked out under subsection (3) must be apportioned between 2 or more entities on a reasonable basis if the entities jointly provide an *ESS interest for which an amount can be deducted under subsection (1).


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.