Section CE 4 — Income Tax Act 2007: Adjustments to value of benefits under share purchase agreements

CE 4 Adjustments to value of benefits under share purchase agreements The Commissioner may at any time adjust the previously determined value of a benefit under a share purchase agreement if the value is reduced because— (a) a restriction on disposal exists when the employee disposes of the shares that was not taken into account in valuing the benefit; or (b) further consideration is required for the shares; or (c) the shares are reacquired either without consideration or for a consideration no more than that paid by the employee. Defined in this Act: Commissioner , employee , pay , share , share purchase agreement Compare: 2004 No 35 s CE 4