Taxation Laws Amendment Act (No. 8) 2000 (156 of 2000)

Schedule 6   Other amendments

A New Tax System (Goods and Services Tax) Act 1999

30   After section 84-13

Insert:

84-14 Supplies relating to employee share ownership schemes

This Division does not apply to a supply, to the extent that it is a supply relating to an*employee share scheme, if:

(a) the*recipient of the supply is not an entity that has acquired, or may in the future acquire, a share or right under the scheme; and

(b) Division 13A of Part III of the*ITAA 1936 applies to discounts (within the meaning of that Division) given in relation to any acquisitions of shares or rights under the scheme; and

(c) either:

(i) the*recipient of the supply is a*100% subsidiary of the supplier; or

(ii) the supply is a transfer that is taken to be a supply because of section 84-15.