115Determination of vesting date and value of employee shares

115 Determination of vesting date and value of employee shares and options (1) Part 3, Division 4 continues to apply in relation to a share or an option granted before 1 July 2011 that constituted wages under old section 18, whether or not the grant of the share or option would constitute wages under new section 18, if the relevant day in relation to the grant of the share or option is not a day occurring before 1 July 2011. Example for subsection (1) A share granted before 1 July 2011 that is not an ESS interest continues to be treated as wages under Part 3, Division 4 if the vesting date for the share did not occur before 1 July 2011 and the employer did not elect to treat the date of the grant as the relevant day. (2) The assessment amendments apply in respect of any such share or option. (3) Accordingly, the vesting date and the value of the share or option are to be determined in accordance with the assessment amendments. (4) This section does not apply in respect of a share or an option granted before 1 July 2011 if the liability for payroll tax in respect of the grant is determined in accordance with Part 3, Division 2 (as permitted by section 114). (5) In this section: assessment amendments means the amendments made by