INCOME TAX ASSESSMENT ACT 1997 - SECT 83A.5 Objects of Division

INCOME TAX ASSESSMENT ACT 1997 - SECT 83A.5

    The objects of this Division are:

  (a)   to ensure that benefits provided to employees under * employee share schemes are subject to income tax at the employees' marginal rates under * income tax law (instead of being subject to * fringe benefits tax law); and

  (b)   to increase the extent to which the interests of employees are aligned with those of their employers, by providing a tax concession to encourage lower and middle income earners to acquire * shares under such schemes; and

  (c)   to increase the number of new entrepreneurial companies in Australia by assisting them to attract and retain employees by providing those employees with a tax concession for acquiring shares under such schemes.