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15 Feb 10 New regs - Employee share scheme unlisted rights valuation method

Income Tax Assessment Amendment Regulations 2010 (No 1) was made on 10 February 2010 and registered on the Federal Register of Legislative Instruments on 11 February 2010 as Select Legislative Instrument 2010 No 8.

These Regulations amend the Income Tax Assessment Regulations 1997 to provide a valuation methodology for certain unlisted rights acquired under an employee share scheme. The valuation tables in the Regulations apply to unlisted rights which are included in a taxpayer’s assessable income on or after 1 July 2009, have an exercise period of 10 years or less, and for which the time they are taxed under the employee share scheme tax rules is not aligned with the time of disposal of the right or underlying share.

The Regulations are taken to have commenced on 1 July 2009 and, when read with ITAA 1997, apply to employee share scheme interests in relation to which an amount must be included in a taxpayer’s assessable income on or after 1 July 2009.

For a copy of Income Tax Assessment Amendment Regulations 2010 (No 1), go here

For a copy of the Explanatory Statement, click on ES/Supp Material

 


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