24Inclusion of shares and options granted to directors as wages

24 Inclusion of shares and options granted to directors as wages (1) For this Act, wages include the grant of a share or an option by a company to a director of the company who is not an employee of the company by way of remuneration for the appointment or services of the director. (2) For that purpose, the other provisions of this Division apply in respect of any such grant as if a reference to the employer were a reference to the company and a reference to the employee were a reference to the director of the company. (3) In this section, a reference to a director of the company includes a reference to the following: (a) a person who, under a contract or other arrangement, is to be appointed as a director of the company; (b) a former director of the company.

Payroll Tax Act 2009 20 (4) However, if wages referred to in this section are fringe benefits, the value of the wages is to be determined in accordance with