INCOME TAX ASSESSMENT ACT 1997 - SECT 130.75 Objects of Subdivision
INCOME TAX ASSESSMENT ACT 1997 - SECT 130.75
Objects of SubdivisionThe objects of this Subdivision are:
(i) Division 83A contains the primary rules for taxing gains on * ESS interests acquired under * employee share schemes; and
(ii) * capital gains and * capital losses on such interests should usually be disregarded during the period in which Division 83A applies to them; and
(b) to align the treatment of ESS interests under Division 83A and the CGT provisions by, for example:
(i) turning off certain special CGT rules; and
(ii) extending some of the deeming provisions of that Division into the CGT provisions; and
(c) to disregard * employee share trusts for most CGT purposes,
by treating ESS interests owned by such trusts as being directly owned by the
beneficiaries of the trusts.