Income Tax Assessment Act 1997
View history note
Hide history noteThe 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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