EV 1051998981839currentnon-binding advice

Temporary resident - employee share scheme

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

1

Will any capital gains or losses made from the disposal of your shares in the Company be disregarded?

2

Yes. This ruling applies for the following periods : Year ending 30 June 20XX Year ending 30 June 20XX Year ending 30 June 20XX Year ending 30 June 20XX The scheme commences on: 1 July 20XX

3

You are a citizen of a foreign country. You were granted a temporary visa which allowed you to work in Australia. You arrived in Australia several years ago. You are not an Australian resident within the meaning of the Social Security Act 1991 . You do not have a spouse. You have been employed by a Company. You participated in the Company's Employee Option Plan and were granted share options in the Company. The Company advised you in the offer letter that the share options granted to you would qualify for the 'Start-Up' Employee Share Scheme concessions in section 83A-33 of the Income Tax Assessment Act 1997 (ITAA 1997). The interest you acquired in the Company under the share option plan is not a direct or indirect interest in Australian real property for the purposes of Division 855 of the ITAA 1997. You sold some shares acquired under the option plan.

4

Income Tax Assessment Act 1997 Section 83A-33 Income Tax Assessment Act 1997 Section 768-915 Income Tax Assessment Act 1997 Division 855 Income Tax Assessment Act 1997 Section 995-1