Income Tax Assessment Act 1997
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).
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