emplyee's share plan, page-2

ATO ruling. Company can give employee shares exempted from tax. There are 3 conditions for the exemptions to be effect.

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The first exemption condition is that the scheme did not contain any conditions which could result in participating employees forfeiting ownership of the shares that were acquired under the Plan, (subsection 139CE(2));
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The second exemption condition is that the scheme is operated so that no participating employee would be permitted to dispose of shares acquired under the Plan until three years after the acquisition or until after the participating employee ceases to be an employee of the AlintaGas Group - whichever event occurs first, (subsection 139CE(3)); and
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The third exemption condition is that the employee share scheme and any financial assistance scheme in respect of the acquisition of shares under the employee share scheme is operated on a non discriminatory basis pursuant to section 139GF, (subsection 139CE(4)).