Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill

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13 Section CE 2 amended (Benefits under employee share schemes)


Replace section CE 2(7), other than the heading, with:


Subsection (8) applies when an employer is required to provide employment income information under sections RD 22(2) (Providing employment income information to Commissioner) and 23E to 23H of the Tax Administration Act 1994, as modified by section 23J of that Act, in relation to a benefit received under an employee share scheme.


In section CE 2(8), replace “in the PAYE income payment form period after the 1 in which they receive the benefit” with “on the ESS deferral date”.


After section CE 2(8), insert:

Meaning of ESS deferral date


For the purposes of this section and sections RD 6 and RD 7B (which relate to employee share schemes), the ESS deferral date is the 20th day after the share scheme taxing date for the employee share scheme beneficiary.


In section CE 2, in the list of defined terms,—


insert “employment income information” and “ESS deferral date”:


delete “employer monthly schedule” and “PAYE income payment form period”.