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.