it's just like you can get taxed on the issue of options - the issue, not the subsequent exercise it all depends on how the issue has been structured, and if the options/perf shares/perf rights have been issued at a discount to the market value then they can be taxed as income
see Q5 in https://uk.practicallaw.thomsonreuters.com/1-513-1482?transitionType=Default&contextData=(sc.Default)&firstPage=true
Tax on grantIncome tax. Tax concessions may be available if certain pre-conditions are satisfied. There are different pre-conditions depending on the relevant tax concession. The most basic tax concession is tax deferral. Where an employee acquires rights under a share option plan at a discount (even a nominal one) to market value and these pre-conditions are not satisfied, the employee's assessable income in the year of acquisition must include the full amount of the discount. This discount equals the market value of the rights or options (as determined under the tax rules) when acquired, less any consideration paid for the right or option.Where the employee has provided the issuer of the rights or options (provider) with their Australian Tax File Number (TFN), no tax withholding applies. The employee will include the discount in their assessable income for the year of grant and pay tax at their marginal rates under Australia's self-assessment regime.Where no TFN has been provided, the provider must pay tax on the discount at the highest marginal rate. The provider can recover the amount of the tax liability from the employee. Practically, recovering the tax liability from the employee can be difficult where the provider is not the employee's employer.
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