Document ID: chunk:federal_register_of_legislation:C2013C00579:clause:5_27
Version: federal_register_of_legislation:C2013C00579
Segment Type: clause
Provision Reference: sch 5 cl 27
Character Range: 40974–41848

27  Before subsection 130‑90(1)
Insert:

Shares held for future acquisition under employee share schemes
 (1A) Disregard any *capital gain or *capital loss made by an *employee share trust to the extent that it results from a *CGT event, if:
 (a) immediately before the event happens, an *ESS interest is a *CGT asset of the trust; and
 (b) either of the following subparagraphs applies:
 (i) the event is CGT event E5, and the event happens because a beneficiary of the trust becomes absolutely entitled to the ESS interest as against the trustee;
 (ii) the event is CGT event E7, and the event happens because the trustee *disposes of the ESS interest to a beneficiary of the trust; and
 (c) Subdivision 83A‑B or 83A‑C (about employee share schemes) applies to the ESS interest.

Shares held to satisfy the future exercise of rights acquired under employee share schemes