(1) This section applies if the * ESS interest is a beneficial interest in a * share.
Meaning of ESS deferred taxing point
(2) The ESS deferred taxing point for the * ESS interest is the earliest of the times mentioned in subsections (4) to (6).
(3) However, the ESS deferred taxing point for the * ESS interest is instead the time you dispose of the interest, if that time occurs within 30 days after the time worked out under subsection (2).
No restrictions on disposing of share
(4) The first possible taxing point is the earliest time when:
(a) there is no real risk that, under the conditions of the * employee share scheme, you will forfeit or lose the * ESS interest (other than by disposing of it); and
(b) if, at the time you acquired the interest, the scheme genuinely restricted you immediately disposing of the interest--the scheme no longer so restricts you.
Cessation of employment
(5) The 2nd possible taxing point is the time when the employment in respect of which you acquired the interest ends.
Maximum time period for deferral
(6) The 3rd possible taxing point is the end of the 15 year period starting when you acquired the interest.