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Second Reading Speeches

Tax and Superannuation Laws Amendment (Employee Share Schemes) Bill 2015

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
44

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Summary

Amends the:

Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Income Tax (Transitional Provisions) Act 1997
and
Taxation Administration Act 1953
in relation to the taxation of employee share schemes by: amending the taxing point for rights for employees of all corporate tax entities; and providing an additional tax concession for employees of certain small start-up companies; and
Income Tax Assessment Act 1997
to: enable the Commissioner of Taxation to approve a method for determining the market value of an asset or non-cash benefit for income tax purposes; and make technical amendments.