Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p6
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 6/21)
Character Range: 1621924–1624886

income tax under section 23AF of that Act.
 (2) For the purposes of subparagraph (1)(a)(ii), treat the termination of engagement on qualifying service on an approved project as including:
 (a) retirement from the engagement; and
 (b) cessation of the engagement because of the person's death.
Note: The termination of a person's employment is treated in the same way: see section 80‑10.

Subdivision 83‑E—Other payments

Guide to Subdivision 83‑E

83‑290  What this Subdivision is about

      If a payment you receive in consequence of the termination of your employment is made more than 12 months after the termination of your employment, it does not qualify as an employment termination payment, subject to certain exceptions (see section 82‑130).
      The payment is treated as assessable income and no tax concession is allowed under Division 82.

Table of sections

Operative provisions
83‑295 Termination payments made more than 12 months after termination etc.

Operative provisions

83‑295  Termination payments made more than 12 months after termination etc.
  A payment received by you that would be an *employment termination payment but for paragraph 82‑130(1)(b) is assessable income.

Division 83A—Employee share schemes

Table of Subdivisions
 Guide to Division 83A
83A‑A Objects of Division and key concepts
83A‑B Immediate inclusion of discount in assessable income
83A‑C Deferred inclusion of gain in assessable income
83A‑D Deduction for employer
83A‑E Miscellaneous

Guide to Division 83A

83A‑1  What this Division is about

      Your assessable income includes discounts on shares, rights and stapled securities you (or your associate) acquire under an employee share scheme.
      You may be entitled:

                (a) to have the amount included in your assessable income reduced; or
                (b) to have the income year in which it is included deferred.

Subdivision 83A‑A—Objects of Division and key concepts

Table of sections
83A‑5 Objects of Division
83A‑10 Meaning of ESS interest and employee share scheme

83A‑5  Objects of Division
  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.

83A‑10  Meaning of ESS interest and employee share scheme
 (1) An ESS interest, in a company, is a beneficial interest in:
 (a) a *share in the company; or
 (b) a right to acquire