Document ID: chunk:federal_register_of_legislation:C2014C00751:clause:1_1:p6
Version: federal_register_of_legislation:C2014C00751
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 6/13)
Character Range: 17877–20488

company (within the meaning of the Corporations Act 2001) of your employer;
  under another employee share scheme.

Real risk of losing interest or share under the conditions of the scheme
 (3) This subsection applies to an *ESS interest you acquire under an *employee share scheme if, when you acquire the interest:
 (a) 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
 (b) if the ESS interest is a beneficial interest in a right to acquire a beneficial interest in a share:
 (i) 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
 (ii) 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).

Salary sacrifice arrangement
 (4) This subsection applies to an *ESS interest you acquire under an *employee share scheme during an income year at a discount if:
 (a) the interest is provided:
 (i) 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
 (ii) 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
 (b) at the time you acquire the interest:
 (i) the discount equals the *market value of the ESS interest; and
 (ii) 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
 (iii) 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:
 (i) that you acquire during the year under any employee share scheme or schemes; and
 (ii) to which both this Subdivision and this subsection apply;
  does not exceed $5,000.
 (5) For the purposes of paragraph (4)(c), work out the *market value of each *ESS interest as at the time you acquire it.
Note: Regulations made for the purposes of section 83A‑315 may substitute a different amount for the market value of the ESS interest.

83A‑110  Amount to be included