Private ruling: Temporary resident - employee share scheme
Date of advice: 28 June 2022
Published: October 2022
Ruling period: Year ending 30 June 20XX | Year ending 30 June 20XX | Year ending 30 June 20XX | Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will any capital gains or losses made from the disposal of your shares in the Company be disregarded? | A1: Yes.

Relevant facts and circumstances: You are a citizen of a foreign country. You were granted a temporary visa which allowed you to work in Australia. You arrived in Australia several years ago. You are not an Australian resident within the meaning of the Social Security Act 1991 . You do not have a spouse. You have been employed by a Company. You participated in the Company's Employee Option Plan and were granted share options in the Company. The Company advised you in the offer letter that the share options granted to you would qualify for the 'Start-Up' Employee Share Scheme concessions in section 83A-33 of the Income Tax Assessment Act 1997 (ITAA 1997). The interest you acquired in the Company under the share option plan is not a direct or indirect interest in Australian real property for the purposes of Division 855 of the ITAA 1997. You sold some shares acquired under the option plan.

Relevant legislative provisions: Income Tax Assessment Act 1997 Section 83A-33 | Income Tax Assessment Act 1997 Section 768-915 | Income Tax Assessment Act 1997 Division 855 | Income Tax Assessment Act 1997 Section 995-1