INCOME TAX ASSESSMENT ACT 1997 - SECT 83A.10 Meaning of ESS interest and employee share scheme

INCOME TAX ASSESSMENT ACT 1997 - SECT 83A.10

  (1)   An ESS interest , in a company, is a beneficial interest in:

  (a)   a * share in the company; or

  (b)   a right to acquire a beneficial interest in a share in the company.

  (2)   An employee share scheme is a * scheme under which * ESS interests in a company are provided to employees, or * associates of employees, (including past or prospective employees) of:

  (a)   the company; or

  (b)   * subsidiaries of the company;

in relation to the employees' employment.

Note:   See section   83A - 325 for relationships similar to employment.