29Exemption for small amounts of variable remuneration

29 Exemption for small amounts of variable remuneration

(1) Paragraph 25(1)(a) does not apply in relation to the variable remuneration of an accountable person for a financial year if the amount of the person’s variable remuneration that is required, or would apart from this section be required, under subparagraph 25(1)(a)(ii) to be deferred for that financial year is less than: (a) the amount (if any) prescribed by the Minister rules; or (b) if no amount is prescribed for the purposes of paragraph (a)—$50,000. Financial year (2) For the purposes of subsection (1), use the financial year of the accountable entity or significant related entity of which the person is an accountable person.

Note: See section 8 for the definition of financial year.