to have the amount included in your assessable income reduced; or

to have the income year in which it is included deferred.

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

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.

a *share in the company; or

a right to acquire a beneficial interest in a share in the company.

the company; or

*subsidiaries of the company;

do not reduce the total amount by more than $1,000; and

only make the reduction if the sum of the following does not exceed $180,000:

your taxable income for the income year (including any amount that would be included in your taxable income if you disregarded this section);

your *reportable fringe benefits total for the income year;

your *reportable superannuation contributions (if any) for the income year;

your *total net investment loss for the income year.

the company; or

a *subsidiary of the company.

the predominant business of the company (whether or not stated in its constituent documents) is the acquisition, sale or holding of *shares, securities or other investments (whether directly or indirectly through one or more companies, partnerships or trusts); and

you are employed by the company; and

you are also employed by any other company that is:

a *subsidiary of the first company; or

(ii) a holding company (within the meaning of the Corporations Act 2001) of the first company; or

(iii) a subsidiary of a holding company (within the meaning of the Corporations Act 2001) of the first company.

the employee share scheme; and

any scheme for the provision of financial assistance in respect of acquisitions of ESS interests under the employee share scheme;

if the ESS interest is a beneficial interest in a *share—there is no real risk that, under the conditions of the scheme, you will forfeit or lose the ESS interest (other than by disposing of it); or

if the ESS interest is a beneficial interest in a right to acquire a beneficial interest in a *share:

there is no real risk that, under the conditions of the scheme, you will forfeit or lose the ESS interest (other than by disposing of it, exercising the right or letting the right lapse); and

there is no real risk that, under the conditions of the scheme, if you exercise the right, you will forfeit or lose the beneficial interest in the share (other than by disposing of it).

starts when you acquire the interest; and

ends at the earlier of:

3 years later; and

when you cease being employed by your employer;

you are not permitted to dispose of:

(i) any ESS interest (the scheme interest) you acquire under the scheme; or

a beneficial interest in a *share you acquire as a result of a scheme interest;

the end of the period of 3 years after you acquire the scheme interest; and

when you cease being employed by your employer; and

everyone else who acquires ESS interests under the scheme is subject to a corresponding restriction.

you do not hold a beneficial interest in more than 5% of the *shares in the company; and

you are not in a position to cast, or to control the casting of, more than 5% of the maximum number of votes that might be cast at a general meeting of the company.

Subdivision 83A-B would, apart from this section, apply to the interest (see section 83A-20); and

subsections 83A-35(3), (4), (5) and (9) apply to the interest; and

if the interest is a beneficial interest in a *share:

subsection (2) of this section applies to the interest; and

subsection (3) or (4) applies to the interest; and

if the interest is a beneficial interest in a right to acquire a beneficial interest in a share—subsection (3) applies to the interest.

your employment;

the types of shares available under the employee share scheme;

share trading and investment companies;

your shareholding and voting power in the company.

ESS interests under the scheme; or

ESS interests in:

your employer; or

(ii) a holding company (within the meaning of the Corporations Act 2001) of your employer;

if the ESS interest is a beneficial interest in a *share—there is a real risk that, under the conditions of the scheme, you will forfeit or lose the ESS interest (other than by disposing of it); or

if the ESS interest is a beneficial interest in a right to acquire a beneficial interest in a share:

there is a real risk that, under the conditions of the scheme, you will forfeit or lose the ESS interest (other than by disposing of it, exercising the right or letting the right lapse); or

there is a real risk that, under the conditions of the scheme, if you exercise the right, you will forfeit or lose the beneficial interest in the share (other than by disposing of it).

the interest is provided:

because you agreed to acquire the interest in return for a reduction in your salary or wages that would not have happened apart from the agreement; or

as part of your remuneration package, in circumstances where it is reasonable to conclude that your salary or wages would be greater if the interest was not made part of that package; and

at the time you acquire the interest:

the discount equals the *market value of the ESS interest; and

all of the ESS interests available for acquisition under the scheme are ESS interests to which subsection (3) applies, beneficial interests in *shares, or both; and

the governing rules of the scheme expressly state that this Subdivision applies to the scheme (subject to the requirements of this Act); and

(c) the total *market value of the *ESS interests in your employer and any holding company (within the meaning of the Corporations Act 2001) of your employer:

that you acquire during the year under any employee share scheme or schemes; and

to which both this Subdivision and this subsection apply;

there is no real risk that, under the conditions of the *employee share scheme, you will forfeit or lose the *ESS interest (other than by disposing of it); and

if, at the time you acquired the interest, the scheme genuinely restricted you immediately disposing of the interest—the scheme no longer so restricts you.

the time you dispose of the ESS interest (other than by exercising the right); or

if you exercise the right—the time you dispose of the beneficial interest in the *share;

you have not exercised the right; and

there is no real risk that, under the conditions of the *employee share scheme, you will forfeit or lose the *ESS interest (other than by disposing of it, exercising the right or letting the right lapse); and

if, at the time you acquired the ESS interest, the scheme genuinely restricted you immediately disposing of the ESS interest—the scheme no longer so restricts you.

there is no real risk that, under the conditions of the scheme, you will forfeit or lose the *ESS interest (other than by disposing of it, exercising the right or letting the right lapse); and

if, at the time you acquired the ESS interest, the scheme genuinely restricted you immediately exercising the right—the scheme no longer so restricts you; and

there is no real risk that, under the conditions of the scheme, if you exercise the right, you will forfeit or lose the beneficial interest in the *share (other than by disposing of it); and

if, at the time you acquired the ESS interest, the scheme genuinely restricted you immediately disposing of the beneficial interest in the share if you exercised the right—the scheme no longer so restricts you.

at least one of the following applies:

(i) an *arrangement (the takeover) is entered into that is intended to result in a company (the old company) becoming a *100% subsidiary of another company;

(ii) *ESS interests in a company (the old company) acquired under *employee share schemes can reasonably be regarded as having been replaced, wholly or partly, by ESS interests in one or more other companies as a result of a change (the restructure) in the ownership (including the structure of the ownership) of the old company; and

(b) just before the takeover or restructure, you held ESS interests (the old interests) in the old company that you acquired under an employee share scheme.

as a result of the arrangement or change, you stop holding the old interests; and

the new interests can reasonably be regarded as matching any of the old interests.

can reasonably be regarded as matching any of the old interests; but

is not treated by subsection (2) as a continuation of those interests.

the new company; or

a *subsidiary of the new company; or

(c) a holding company (within the meaning of the Corporations Act 2001) of the new company; or

(d) a subsidiary of a holding company (within the meaning of the Corporations Act 2001) of the new company;

the *cost bases of the old interests when you stop holding them; and

the cost bases of the assets mentioned in paragraph (8)(b) immediately after the takeover or restructure (ignoring the effect of this subsection).

the things that:

you acquired in connection with the takeover or restructure; and

can reasonably be regarded as matching the old interests;

in a case covered by subparagraph (1)(a)(ii)—any *ESS interests in the old company that:

you held just before, and continue to hold just after, the restructure; and

that can reasonably be regarded as matching the old interests.

at or about the time you acquire the new interests, you are employed as mentioned in subsection (6); and

at the time you acquire the new interests:

you do not hold a beneficial interest in more than 5% of the *shares in the new company; and

you are not in a position to cast, or to control the casting of, more than 5% of the maximum number of votes that might be cast at a general meeting of the new company.

during the year you provided one or more *ESS interests to an individual under an *employee share scheme; and

you did so as:

the employer of the individual; or

(ii) a holding company (within the meaning of the Corporations Act 2001) of the employer of the individual; and

section 83A-35 applies to reduce the amount included in the individual’s assessable income under subsection 83A-25(1) in relation to some or all of the interests.

at a particular time, you provide another entity with money or other property:

under an *arrangement; and

(ii) for the purpose of enabling an individual (the ultimate beneficiary) to acquire, directly or indirectly, an *ESS interest under an *employee share scheme in relation to the ultimate beneficiary’s employment (including past or prospective employment); and

(b) that particular time occurs before the time (the acquisition time) the ultimate beneficiary acquires the *ESS interest;

treat the interest as having being acquired by the individual (instead of the associate); and

treat any circumstance, right or obligation existing or not existing in relation to the interest in relation to the associate as existing or not existing in relation to the individual; and

treat anything done or not done by or in relation to the associate in relation to the interest as being done or not done by or in relation to the individual.

the associate’s voting rights;

the associate’s ability or inability to dispose of the ESS interest;

whether there is a real risk that the associate may lose the ESS interest;

the associate’s cost base for the ESS interest.

disregarding this section, an amount is included in the individual’s assessable income under this Division in relation to the interest; and

either:

the individual forfeits the interest; or

in the case of an ESS interest that is a beneficial interest in a right—the individual forfeits or loses the interest (without having disposed of the interest or exercised the right); and

the forfeiture or loss is not the result of:

a choice made by the individual (other than a choice by that individual to cease particular employment); or

a condition of the scheme that has the direct effect of protecting (wholly or partly) the individual against a fall in the *market value of the interest.

whether there is a discount given in relation to interest; and

if so—the amount of the discount.

you hold an interest in a trust whose assets include *shares; and

that interest corresponds to a particular number of the shares (even if the interest does not correspond to particular shares).

he or she were employed by the entity referred to in column 2 of that item; and

the thing referred to column 3 of that item constituted that employment.

your employer in that employment;

(b) a holding company (within the meaning of the Corporations Act 2001) of your employer;

a *subsidiary of your employer;

(d) a *subsidiary of a holding company (within the meaning of the Corporations Act 2001) of your employer.

you acquire a beneficial interest in a right; and

the right later becomes a right to acquire a beneficial interest in a *share.

shares with a specified total value, rather than a specified number of shares; or

an indeterminate number of shares.

(a) a company (the provider) provides one or more *ESS interests to an individual under an *employee share scheme; and

(b) as a result, an amount is included in the individual’s assessable income under Income Tax Assessment Act 1997 for an income year (taking into account subsection (2) of this section); andDivision 83A of the

the individual has quoted neither of the following to the provider before the end of the income year:

if the individual acquired the interests in relation to any services provided to the provider, or to a *subsidiary of the provider, in the course or furtherance of an *enterprise *carried on by the individual—the individual’s *ABN;

in any case—the individual’s *tax file number.

the individual has made a *TFN declaration in relation to the employer; and

some or all of the *ESS interests mentioned in paragraph 14-155(1)(a) were provided to the individual in relation to the individual’s employment by the employer.

subsection 18-15(1) (about credits for amounts withheld from withholding payments); and

sections 18-65 and 18-70 (about refunds of amounts withheld in error);

the Commissioner must refund the amount overpaid; and

the individual is not entitled to a credit under section 18-15 in respect of the amount overpaid.

section 83A-130 (about takeovers and restructures);

section 83A-305 (about associates);

section 83A-320 (about trusts);

section 83A-325 (about relationships similar to employment);

section 83A-335 (about stapled securities);

section 83A-340 (about indeterminate rights).

both of the following subparagraphs apply:

the provider provides *ESS interests to the individual during the year;

(ii) Subdivision 83A-B or 83A-C of the Income Tax Assessment Act 1997 (about employee share schemes) applies to the interests; or

all of the following subparagraphs apply:

the provider has provided ESS interests to the individual (whether during the year or during an earlier year);

(ii) Subdivision 83A-C of the Income Tax Assessment Act 1997 (about employee share schemes) applies to the interests;

the *ESS deferred taxing point for the interests occurs during the year.

the provider’s *ABN;

the following information about the individual:

the individual’s name and address;

if the individual has quoted his or her*tax file number to the provider—that tax file number;

if the individual acquired the interests in relation to any services provided to the provider, or to a *subsidiary of the provider, in the course or furtherance of an *enterprise *carried on by the individual, and the individual has *quoted his or her ABN to the provider—that ABN;

(c) the following information about any interests to which both paragraph (1)(a) of this section and Subdivision 83A-B of the Income Tax Assessment Act 1997 apply:

the number of the interests;

the amount paid, at or before the time of acquisition, towards acquiring the interests;

the provider’s estimate of the *market value of the interests at the time of acquisition;

the amount of *TFN withholding tax (ESS) paid or payable by the provider in respect of the interests during the year;

(d) the following information about any interests to which both paragraph (1)(a) of this section and Subdivision 83A-C of the Income Tax Assessment Act 1997 apply:

the number of the interests;

the amount paid, at or before the time of acquisition, towards acquiring the interests;

the following information about any interests to which paragraph (1)(b) applies:

the number of the interests;

the amount paid, after the time of acquisition but not after the *ESS deferred taxing point, towards acquiring the interests;

the provider’s estimate of the market value of the interests at the ESS deferred taxing point;

the amount of TFN withholding tax (ESS) paid or payable by the provider in respect of the interests during the year.

to the individual no later than 14 July after the end of the year; and

to the Commissioner no later than 14 August after the end of the year.

the time (if any) the provider gives a statement to the relevant individual under this section for the *financial year mentioned in subsection (7); and

the later of:

14 July after the end of the financial year mentioned in subsection (7); and

if, under the Commissioner defers to a later time the time within which the statement under this section for that financial year is required to be given to the individual—that later time.section 388-55,

tell the individual or the Commissioner, as applicable, of the change in the *approved form; or

give the omitted information to the individual or the Commissioner, as applicable, in the approved form.

section 83A-130 (about takeovers and restructures);

section 83A-305 (about associates);

section 83A-315 (about market values and discounts);

section 83A-320 (about trusts);

section 83A-325 (about relationships similar to employment);

section 83A-335 (about stapled securities);

section 83A-340 (about indeterminate rights).

the *recipient of the supply is not an entity that has acquired, or may in the future acquire, an ESS interest (within the meaning of the *ITAA 1997) under the scheme; and

Subdivision 83A-B or 83A-C of the ITAA 1997 applies to any ESS interest (within the meaning of that Act) acquired under the scheme; and

(h) a benefit constituted by the acquisition of an ESS interest under an employee share scheme (within the meaning of the Income Tax Assessment Act 1997) to which Subdivision 83A-B or 83A-C of that Act applies; or

(ha) a benefit constituted by the acquisition of money or property by an employee share trust (within the meaning of the Income Tax Assessment Act 1997); or

Subdivision 83A-B and subsections 83A-35(3) to (9) of that Act apply; or

Subdivision 83A-C of that Act applies.

the taxpayer holds the interest;

the interest is an interest in the FIF;

(c) the ESS deferred taxing point (within the meaning of the Income Tax Assessment Act 1997) for the interest has not occurred.

that forms part of the notional accounting period; and

for the whole of which, the following conditions are satisfied:

the taxpayer holds the interest;

the interest is an interest in the FIF;

(iii) the ESS deferred taxing point (within the meaning of the Income Tax Assessment Act 1997) for the interest has not occurred.

if you acquired a beneficial interest in the rights under an *employee share scheme—neither Subdivision 83A-B nor 83A-C (about employee share schemes) applies to the beneficial interest;

(a) you acquired the beneficial interest (the ESS interest) in the share or right under an *employee share scheme; and

subsequent to an amount being included in your assessable income under Division 83A (about employee share schemes) in relation to the ESS interest, section 83A-310 (about forfeiture) applies in relation to ESS interest.

the entity acquired a beneficial interest in the ownership interest under an *employee share scheme; and

either Subdivision 83A-B and subsections 83A-35(3) to (9), or Subdivision 83A-C, applies to the beneficial interest; and

the ownership interest is not a fully-paid ordinary *share.

both of the following would apply if Division 83A (about employee share schemes) applied to ownership interests in trusts in the same way as it applies to *shares:

the entity acquired a beneficial interest in the ownership interest under an *employee share scheme;

either Subdivision 83A-B and subsections 83A-35(3) to (9), or Subdivision 83A-C, applies to the beneficial interest; and

the ownership interest is not a fully-paid unit.

to recognise that:

Division 83A contains the primary rules for taxing gains on *ESS interests acquired under *employee share schemes; and

*capital gains and *capital losses on such interests should usually be disregarded during the period in which Division 83A applies to them; and

to align the treatment of ESS interests under Division 83A and the CGT provisions by, for example:

turning off certain special CGT rules; and

extending some of the deeming provisions of that Division into the CGT provisions; and

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.

the CGT event happens in relation to an *ESS interest you *acquire under an *employee share scheme; and

the CGT event is not CGT event E4, G1 or K8; and

if Subdivision 83A-B applies to the interest—the time of the acquisition is the time when the CGT event happens; and

if Subdivision 83A-C applies to the interest:

the time of the acquisition is the time when the CGT event happens; or

the CGT event happens on or before the *ESS deferred taxing point for the ESS interest.

Subdivision 83A-C applies to the *ESS interest; and

the *CGT event happens because you forfeit or lose the ESS interest (other than by disposing of it) on or before the *ESS deferred taxing point for the interest.

the CGT asset is:

a *share; or

a right to acquire a beneficial interest in a share; and

the CGT event is CGT event A1; and

you acquire an *ESS interest; and

the ESS interest is a beneficial interest in the share or right; and

Subdivision 83A-B or 83A-C (about employee share schemes) applies to the ESS interest.

you acquiring an *ESS interest to which Subdivision 83A-C (about employee share schemes) applies; or

you:

forfeiting an ESS interest; or

forfeiting or losing an ESS interest that is a beneficial interest in a right (without you having disposed of the interest or exercised the right);

you *acquire an *ESS interest under an *employee share scheme; and

Subdivision 83A-B or 83A-C applies to the ESS interest; and

the ESS interest is, or arises because of, an interest you hold in an *employee share trust.

from the time of acquisition of the *ESS interest; and

until you no longer have an ESS interest in the share or right.

either:

if Subdivision 83A-B applies to the ESS interest—from the time of acquisition; or

if Subdivision 83A-C applies to the ESS interest—from immediately after the *ESS deferred taxing point for the ESS interest; and

until your associate no longer has an ESS interest in the share or right.

obtaining *shares or rights in a company; and

ensuring that *ESS interests in the company that are beneficial interests in those shares or rights are provided under the employee share scheme to employees, or to *associates of employees, of:

the company; or

a *subsidiary of the company; and

other activities that are merely incidental to the activities mentioned in paragraphs (a) and (b).

the CGT event is CGT event E5 or E7; and

the CGT event happens in relation to a *share; and

the beneficiary had acquired a beneficial interest in the share by exercising a right; and

the beneficiary’s beneficial interest in the right was an *ESS interest to which Subdivision 83A-B or 83A-C (about employee share schemes) applied.

Subdivision 83A-B or 83A-C (about employee share schemes) applies to the ESS interest; and

the ESS interest forms part of the share or right.

section 83A-130 (about takeovers and restructures);

section 83A-305 (about associates);

section 83A-320 (about trusts);

section 83A-325 (about relationships similar to employment);

section 83A-335 (about stapled securities);

section 83A-340 (about indeterminate rights).

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

the exempting entity; or

a *subsidiary of the exempting entity; and

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

under an *employee share scheme; and

in circumstances specified as relevant in section 208-215; and

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

all the *ESS interests available for acquisition under the scheme relate to:

ordinary shares; or

preference shares to which are attached substantially the same rights as are attached to ordinary shares; and

immediately after the individual acquires the interest:

he or she does not hold a beneficial interest in more than 5% of the shares in the company; and

he or she is not in a position to control, or to control the casting of, more than 5% of the maximum number of votes that might be cast at a general meeting of the company; and

the share is not a *non-equity share.

the share is part of a stapled security; and

Subdivision 83A-B or 83A-C (about employee share schemes) applies to the beneficial interest in the stapled security.

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

the former exempting entity; or

a *subsidiary of the former exempting entity; and

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

under an *employee share scheme; and

in circumstances specified as relevant in section 208-215; and

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

an *ESS interest is acquired under the borrowing; and

Subdivision 83A-B or 83A-C (about employee share schemes) applies to the ESS interest.

the entity who holds the beneficial interest in the share or membership interest acquired that beneficial interest:

under an *employee share scheme; or

by exercising a right, a beneficial interest in which was acquired under an employee share scheme; and

paragraphs 83A-105(1)(a) and (b) and subsection 83A-105(2) apply to the beneficial interest acquired under the scheme; and

in the case of a membership interest—the interest is part of a stapled security.

in association with the acquisition of a *share in a company in relation to which the conditions in subsection 703-35(5) are met; or

the entity who holds the beneficial interest in the share or membership interest acquired that beneficial interest:

under an *employee share scheme; or

by exercising a right, a beneficial interest in which was acquired under an employee share scheme; and

paragraphs 83A-105(1)(a) and (b) and subsection 83A-105(2) apply to the beneficial interest acquired under the scheme; and

in the case of a membership interest—the interest is part of a stapled security.

Subdivision 83A-C (about employee share schemes) applies to the interest; and

the *ESS deferred taxing point for the interest has not yet occurred.

Subdivision 83-C (about employee share schemes) applies to the interest; and

the *ESS deferred taxing point for the interest has not yet occurred.

(d) a benefit constituted by the acquisition of an *ESS interest *under an employee share scheme to which Subdivision 83A-B or 83A-C of the Income Tax Assessment Act 1997 applies.

you are required under the Commissioner) in the *approved form by a particular day; andDivision 392 (Employee share scheme reporting) to give a statement to an entity (other than

you do not give the statement in the approved form to the entity by that day.

the interest was acquired on or after 1 July 2009; and

(b) the relevant share or right (within the meaning of Income Tax Assessment Act 1936, as in force at the time (the pre-Division 83A time) occurring just before Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 commenced, (former Division 13A)) was not acquired (within the meaning of former Division 13A) before 1 July 2009.Division 13A of Part III of the

all of the following subparagraphs apply:

(i) at the pre-Income Tax Assessment Act 1936 applied in relation to the interest;Division 83A time, subsection 139B(3) of the

the interest was acquired (within the meaning of former 1 July 2009;Division 13A) before

(iii) the cessation time mentioned in subsection 139B(3) of the Income Tax Assessment Act 1936, as in force at the pre-Division 83A time, for the interest did not occur before 1 July 2009; or

all of the following subparagraphs apply:

(i) at the pre-Income Tax Assessment Act 1936, as in force at that time, (former section 26AAC) applied in relation to the interest;Division 83A time, section 26AAC of the

the interest was acquired (within the meaning of former 1 July 2009;section 26AAC) before

an amount has not been included in a person’s assessable income under former 1 July 2009.section 26AAC in relation to the interest before

do not include an amount in your assessable income under subsection 83A-110(1) of that Act in relation to the ESS interest to the extent that the amount relates to your employment outside Australia; and

(b) subject to subsection 83A-115(3) or 83A-120(3) of that Act, whichever is applicable, treat the ESS deferred taxing point for the interest as being:

if paragraph (2)(a) of this section applies—the cessation time mentioned in subparagraph (2)(a)(iii); or

if paragraph (2)(b) applies—the earliest time at which an amount is included in a person’s assessable income under former section 26AAC in relation to the interest; and

treat the reference in subsection 83A-115(3) or 83A-120(3) (30 day rule for ESS deferred taxing point), whichever is applicable, of that Act to the time worked out under subsection 83A-115(2) or 83A-120(2) of that Act as being a reference to the time worked out under paragraph (b) of this subsection; and

treat the requirements in paragraphs 83A-310(a), (b) and (c) of that Act as being satisfied in relation to the interest if, and only if:

(i) if paragraph (2)(a) applies—the 2 requirements mentioned in Income Tax Assessment Act 1936 (as in force at the pre-Division 83A time) are satisfied in relation to the interest; orsection 139DD of the

if paragraph (2)(b) applies—the requirements in paragraphs (8D)(a), (b) and (c) of former section 26AAC are satisfied in relation to the interest; and

(e) Subdivision 14-C in Schedule 1 to the Taxation Administration Act 1953 (about TFN withholding tax (ESS)) does not apply to the ESS interest; and

if paragraph (2)(a) applies:

(i) for the purposes of Income Tax Assessment Act 1997 (Discount capital gains and trusts’ net capital gains), treat the ESS interest as having been acquired by an individual when the individual acquired the legal title in the share or right of which the ESS interest forms part; andDivision 115 of the

(ii) for the purposes of Taxation Administration Act 1953 (Statements), disregard any election made under former section 139E of the Income Tax Assessment Act 1936; andDivision 392 in Schedule 1 to the

(g) if paragraph (2)(b) applies—paragraph 82-135(m) of the Income Tax Assessment Act 1997 does not apply in relation to the ESS interest.

(a) at the time (the pre-Division 83A time) occurring just before Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 commenced:

(i) Income Tax Assessment Act 1936, as in force at that time, (former Division 13A) applied in relation to a share or right (within the meaning of former Division 13A); orDivision 13A of Part III of the

section 26AAC of that Act, as in force at that time, applied in relation to a share or right (within the meaning of that section as in force at that time); and

(b) if there is a beneficial interest in the share or right that is an ESS interest—Income Tax Assessment Act 1997 does not apply in relation to the interest under section 83A-5.Division 83A of the

you acquired a beneficial interest in a right before 1 July 2009; and

on or after 1 July 2009, the right becomes a right to acquire a beneficial interest in a share.

(a) are made for the purposes of Income Tax Assessment Act 1997, added by this Schedule; orDivision 83A of the

are made for the purposes of a taxation law (within the meaning of that Act) and relate to the amendments made by this Schedule;

you satisfy subsection (2E) for that year, and one of the tests set out in any of the following provisions is satisfied for the business activity for that year:

section 35-30 (assessable income test);

section 35-35 (profits test);

section 35-40 (real property test);

section 35-45 (other assets test); or

you satisfied subsection (2E), and one of the tests set out in any of the following provisions was satisfied for the business activity:

section 35-30 (assessable income test);

section 35-35 (profits test);

section 35-40 (real property test);

section 35-45 (other assets test); or

your taxable income for that year;

your *reportable fringe benefits total for that year;

your *reportable superannuation contributions for that year;

your *total net investment losses for that year.

because of its nature, it has not produced, or will not produce, assessable income greater than the deductions attributable to it; and

there is an objective expectation, based on evidence from independent sources (where available) that, within a period that is commercially viable for the industry concerned, the activity will produce assessable income for an income year greater than the deductions attributable to it for that year (apart from the operation of subsections 35-10(2) and (2C)).

apart from that rule, you could otherwise deduct amounts under Division 41 of that Act for that income year; and

the total of those amounts is more than or equal to the excess worked out under that subsection for the business activity for the income year.

(a) before the commencement of Schedule 2 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009; and

for one or more income years;

the amendments made by items 1 to 13 of this Schedule;

(b) Income Tax (Transitional Provisions) Act 1997 (as inserted by this Schedule).section 35-10 of the

the keeping of registers of details relating to:

unclaimed money; and

(ii) certain amounts relating to superannuation of persons (former temporary residents) who used to be holders of temporary visas under the Migration Act 1958 and have left Australia; and

certain amounts relating to superannuation of persons who used to be lost members;

the payment to the Commissioner of:

unclaimed money; and

certain amounts relating to superannuation of former temporary residents; and

certain amounts relating to superannuation of lost members; and

the safekeeping of such money and amounts paid to the Commissioner until the Commissioner can pay the money and amounts to persons entitled to them; and

the person; or

to a fund identified by the person; or

if the person has died—to the person’s death beneficiaries or legal personal representative.

small accounts of lost members; and

inactive accounts of unidentifiable lost members.

to a fund identified by the person; or

if the person has reached eligibility age or the amount is less than $200—to the person; or

if the person has died—to the person’s death beneficiaries or legal personal representative.

each person in respect of whom there is an amount referred to in paragraph (e) of this subsection.

the amounts (if any) paid to the Commissioner under section 24E in respect of the person;

small accounts of lost members; and

inactive accounts of unidentifiable lost members.

the member on whose behalf the account is held is a lost member; and

the balance of the account is less than $200; and

(c) the account does not support or relate to a defined benefit interest (Income Tax Assessment Act 1997).within the meaning of section 292-175 of the

the member on whose behalf the account is held is a lost member; and

the superannuation provider has not received an amount in respect of the member within the last 5 years; and

the superannuation provider is satisfied that it will never be possible for the provider, having regard to the information reasonably available to the provider, to pay an amount to the member; and

(d) the account does not support or relate to a defined benefit interest (Income Tax Assessment Act 1997).within the meaning of section 292-175 of the

if the RSA is an account—that account; or

if the RSA is a policy (within the meaning of the RSA Act)—that policy.

each lost member account as at the end of the day;

the administration of any of the following in connection with each lost member account:

this Part;

(ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007;

(iii) the Income Tax Assessment Act 1997, Part 3AA of this Act, and Chapters 2 and 4 in Schedule 1 to the Taxation Administration Act 1953, so far as they relate to this Part or the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007.

starts on the unclaimed money day; and

ends on the day on which the statement is given to the Commissioner.

the fund is a regulated superannuation fund that has fewer than 5 members; and

there are no lost member accounts.

an amount that is unclaimed money at the end of the unclaimed money day; or

amounts payable to a person identified in a notice the Commissioner has given the superannuation provider under section 20C.

a superannuation provider gives the Commissioner a statement under section 24C; and

the superannuation provider becomes aware of a material error, or material omission, in any information in the statement.

an account is a lost member account as at the end of an unclaimed money day; and

the account is held by the provider on behalf of the person; and

(c) the person is still a lost member at the time (the calculation time) immediately before the earlier of:

the time (if any) the payment is made; and

the time at which the payment is due and payable, (assuming that the payment must be made).

work out the amount that would have been payable at the calculation time; and

assume that the request were made before the calculation time; and

assume that the lost member had not died before the calculation time.

(a) for the purposes of subsection (2), take account only of the lost member’s entitlement to payment remaining after any reduction by the payment split (disregarding subsection 90MB(3) of the Family Law Act 1975); and

(b) the superannuation provider must also pay an amount (the non-member spouse amount) to the Commissioner in respect of the non-member spouse; and

the non-member spouse amount is due and payable at the same time as the amount payable under subsection (1); and

the amount of the non-member spouse amount is the amount of the reduction mentioned in paragraph (a).

an amount that is unclaimed money at the end of the unclaimed money day; or

an amount payable to a person identified in a notice the Commissioner has given the provider under section 20C.

starts at the time it is due and payable; and

ends at the end of the last day on which either of the following remains unpaid:

the amount unpaid when it is due and payable;

general interest charge on any of the amount.

the person is subject to a requirement under subsection 24E(1) or (4); and

the person engages in conduct; and

the person’s conduct breaches the requirement.

a superannuation provider paid an amount to the Commissioner under section 24E in respect of the person; and

the Commissioner is satisfied, on application in the approved form or on the Commissioner’s own initiative, that it is possible for the Commissioner to pay the amount in accordance with subsection (2).

to a single fund if:

the person has not died; and

the person directs the Commissioner to pay to the fund; and

(iii) the fund is a complying superannuation plan (within the meaning of the Income Tax Assessment Act 1997); or

in accordance with subsection (3) if:

the person has died; and

the Commissioner is satisfied that, if the superannuation provider had not paid the amount to the Commissioner, the provider would have been required to pay an amount or amounts (death benefits) to one or more other persons (death beneficiaries) because of the deceased person’s death; or

to the person’s legal personal representative if the person has died but subparagraph (b)(ii) does not apply; or

to the person if:

subparagraph (a)(ii) does not apply; and

the person has reached the eligibility age or the amount is less than $200; and

the person has not died.

is identified in a notice under section 20C; or

used to be the holder of a temporary visa.

(a) a superannuation provider for a fund (the first fund) has made a payment to the Commissioner under section 24E in respect of a person; and

the Commissioner is satisfied that the amount paid exceeded the amount (if any) that was payable under that section in respect of the person.

to the superannuation provider; or

to a superannuation provider for another fund if the Commissioner is satisfied that:

the first fund no longer exists; and

the other fund provides rights relating to the person equivalent to those provided by the first fund.

the Commissioner makes a payment in respect of a person under, or purportedly under, this Part; and

the amount paid exceeds the amount (if any) properly payable under this Part in respect of the person.

the person to whom the payment was made (whether the payment was made to the person in his or her own right or as the legal personal representative of someone else who had died);

the superannuation provider for the fund to which the payment was made;

if the payment, or an amount wholly or partly attributable to that payment, was transferred to another fund—the superannuation provider for that other fund.

the Commissioner gave the debtor written notice, as prescribed by the regulations, of the proposed recovery and the amount to be recovered; and

at least 28 days have passed since the notice was given; and

the amount recovered is not more than the amount specified in the notice.

(a) a payment (the Commissioner’s payment) is made to a fund under section 24G in accordance with a person’s direction; and

(b) the superannuation provider for the fund has not credited the payment to an account for the benefit of the person by the time (the repayment time) that is the end of the 28th day after the day on which the Commissioner’s payment was made.

starts at the repayment time; and

ends at the end of the last day on which either of the following remains unpaid:

the amount unpaid at the repayment time;

general interest charge on any of the amount.

the superannuation provider; and

the fund; and

a member of the fund if:

the statement relates to an account, in the fund, held on behalf of the member; and

the member has quoted his or her tax file number to the superannuation provider.

the benefit is a *superannuation lump sum; and

(b) the benefit is paid to you under subsection 24G(2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in a case covered by paragraph (d) of that subsection; and

the amount of the benefit is less than $200.

(a) the last unclaimed money day (within the meaning of the Superannuation (Unclaimed Money and Lost Members) Act 1999) occurring before 1 July 2010; and

later unclaimed money days.