Commonwealth Numbered Regulations

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INCOME TAX ASSESSMENT (1997 ACT) REGULATIONS 2021 (F2021L00206) - REG 83A.315.09

Base percentages for calculation percentages of 110% or more

             (1)  The value of the right worked out under this section, is the amount worked out using the following formula:

                  

                   where:

"additional percentage " , for a right with an exercise period specified in an item in column 1 of the table in subsection (2), is the percentage specified in column 3 of the item.

"base percentage " , for a right with an exercise period specified in an item in column 1 of the table in subsection (2), is the percentage specified in column 2 of the item.

"excess " is the amount worked out using the following formula, disregarding any fraction:

"exercise period " for a right is the period, in months, from the particular day (referred to in section 83A-315.02) until the last day on which the right may be exercised.

             (2)  The following table sets out base percentages and additional percentages for the purposes of subsection (1).

 

Base percentages and additional percentages

Item

Column 1

Exercise period (months)

Column 2

Base percentage

Column 3

Additional percentage

1

168 to 180

13.3%

0.5%

2

156 to 168

13.3%

0.5%

3

144 to 156

13.3%

0.5%

4

132 to 144

13.3%

0.6%

5

120 to 132

13.3%

0.6%

6

108 to 120

13.3%

0.6%

7

96 to 108

13.2%

0.6%

8

84 to 96

13.0%

0.6%

9

72 to 84

12.8%

0.7%

10

60 to 72

12.5%

0.7%

11

48 to 60

12.1%

0.7%

12

36 to 48

11.4%

0.8%

13

24 to 36

10.5%

0.8%

14

18 to 24

9.9%

0.8%

15

12 to 18

9.2%

0.9%

16

9 to 12

8.8%

0.9%

17

6 to 9

8.3%

0.9%

18

3 to 6

7.8%

0.9%

19

0 to 3

7.5%

1.0%

Note:          The following assumptions were used to work out the base percentages:

(a)    a risk-free interest rate of 4%;

(b)    a dividend yield of 4%;

(c)    volatility of 12%.

             (3)  If the exercise period is the top of one range in the table in subsection (2) and is also the bottom of another range in the table, it is taken to be in the lower range and not in the higher range.


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