Australian Capital Territory Current Acts Australian Capital Territory Current Acts(1) For this Act, "wages" includes the grant of a share or option by a company to a director of the company who is not an employee of the company as remuneration for the director's appointment or services.
(2) Also, the other provisions of this division apply in relation to the grant as if—
(a) a reference to the employer were a reference to the company; and
(b) a reference to the employee were a reference to the director of the company; and
(c) any other necessary changes, and any changes prescribed by regulation, were made.
(3) However, if wages mentioned in this section are fringe benefits, the value of the wages must be worked out under division 3.2 (Fringe benefits), not this division.
(4) In this section:
"director", of a company, includes—
(a) a person who, under a contract or other arrangement, is to be appointed as a director of the company; and
(b) a former director of the company.
Note Section 13 (Meaning of wages ) provides that a reference to an employee in this Act includes a reference to anyone to whom an amount that is treated as wages under this Act is paid or payable. See also s 11 (Wages taxable in the ACT), that deems the wages to be paid or payable in relation to services performed.