Payroll Tax Act 2007

For the purposes of 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 is an ESS interest (within the meaning of section 83A-10 of the ITAA) and is granted to the employee under an employee share scheme (within the meaning of that section).

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

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

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