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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
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To: mappingworld who wrote (183)7/18/2000 12:00:51 AM
From: dynamac   of 548
 
Olga
When an employer issues stock options to an employee, the employer is obligated to report it as a taxable benefit. The The taxable benefit would be for the value of the shares on the day, they come into your possession. The employer is also obligated to report the capital gains deduction on your T4 SLIP. The deduction was 25% for all stock options up to and including February 27 2000. After February 27 the deduction is 33 1/3%.

If your benefit was issued to you after February 27 2000 and was less than $100,000.00, you have the option of deferring the tax until you sell the shares.

The benefit is subject to CPP and Income Tax but not EI.

Due to the fact that many stock option benefits are larger than a person's salary. Income tax is not required at source unless you are taking the shares in cash and your employer is completing the transaction on your behalf.

I hope this helps but if you have any other questions you can PM me.
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