Inclusion of grant of shares and options as wages

In force

(1)

For this Act, wages include the grant of a share or an option to an employee by an employer in respect of services performed by the employee if the share or option:

(a)

is an ESS interest (within the meaning of section 83A-10 of the

ITAA); and

(b)

is granted to the employee under an employee share scheme (within the meaning of that section).

Note for subsection (1)

A grant of a share or an option to an employee by an employer that is not an ESS interest will be taxable as a fringe benefit under Division 2 of this Part.

(2)

Any such wages are taken, for the imposition of payroll tax, to be paid or payable on the relevant day.

(3)

For this Division, the relevant day is the day the employer elects in accordance with this Division to treat as the day on which the wages are paid or payable.

(4)

To avoid doubt, the grant of a share or option is valuable consideration for section 46.

This Act’s bill:Explanatory statement Second reading speech

Research tools for this sectionSubscription

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.

18 Inclusion of grant of shares and options as wages