South Australian Numbered Acts

PAYROLL TAX (MISCELLANEOUS) AMENDMENT ACT 2012 (NO 50 OF 2012) - SECT 5

5—Amendment of section 18—Inclusion of grant of shares and options as wages

Section 18(1)—delete subsection (1) and substitute:

        (1)         For the purposes of this Act, "wages" include the grant of a share or an option to an employee by an employer in respect of services performed by the employee if the share or option is an ESS interest (within the meaning of section 83A–10 of the Income Tax Assessment Act 1997 of the Commonwealth) and is granted to the employee under an employee share scheme (within the meaning of that section).

Note—

A grant of a share or an option to an employee by an employer that is not an ESS interest will be taxable as a fringe benefit under Division 2 of this Part.