INCOME TAX ASSESSMENT ACT 1997 - SECT 208.205 Distributions to employees acquiring shares under eligible employee share schemes

INCOME TAX ASSESSMENT ACT 1997 - SECT 208.205

    Division   207 also applies to a * franked distribution made by an * exempting entity if:

  (a)   the distribution is made to an individual who, at the time the distribution is made, is an employee of:

  (i)   the exempting entity; or

  (ii)   a * subsidiary of the exempting entity; and

  (b)   the employee acquired a beneficial interest in the * share on which the distribution is made:

  (i)   under an * employee share scheme; and

  (ii)   in circumstances specified as relevant in section   208 - 215; and

  (c)   the employee does not hold that beneficial interest as a trustee.