Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p20
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 20/21)
Character Range: 1656956–1659544

is taken never to have applied in relation to an *ESS interest acquired by an individual under an *employee share scheme if:
 (a) disregarding this section, an amount is included in the individual's assessable income under this Division in relation to the interest; and
 (b) either:
 (i) the individual forfeits the interest; or
 (ii) 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
 (c) the forfeiture or loss is not the result of:
 (i) a choice made by the individual (other than a choice to which subsection (2) applies); or
 (ii) 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.
 (2) This subsection applies to the following choices by the individual:
 (a) a choice to cease particular employment;
 (b) in the case of an *ESS interest that is a beneficial interest in a right:
 (i) a choice not to exercise the right before it lapsed; or
 (ii) a choice to allow the right to be cancelled.

83A‑315  Market value of ESS interest
 (1) Whenever this Division (other than section 83A‑20) uses the *market value of an *ESS interest, instead use the amount specified in the regulations for the purposes of this section in relation to the interest, if the regulations specify such an amount.
 (2) To avoid doubt, apply the rule in subsection (1) to the *market value component of any calculation for the purposes of this Division that involves market value.
Example: If the regulations specify an amount in relation to an ESS interest, use that amount instead of the market value of the interest in working out:
(a) whether there is a discount given in relation to interest; and
(b) if so—the amount of the discount.

83A‑320  Interests in a trust
 (1) This section applies if, at a time:
 (a) you hold an interest in a trust whose assets include *shares; and
 (b) that interest corresponds to a particular number of the shares (even if the interest does not correspond to particular shares).
 (2) For the purposes of this Division, treat yourself as holding at that time a beneficial interest in each of a number of the *shares included in the assets of the trust equal to the number mentioned in paragraph (1)(b).
 (3) If there are 2 or more classes of *shares included in the assets of the trust, this section operates separately in relation to each class as if the shares in that class were all the shares included in the assets of the trust.