Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CCRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ADRC.
Principal Issues: The writer wrote on behalf of constituents with respect to the timing and computation of benefits under paragraph 7(1)(a) of the Act where the value of the shares under the option decreases.
Position: Provided general information and noted that the issue is under review at Finance.
Reasons: Issue is still under review.
Signed on June 25, 2002
XXXXXXXXXX
Dear Colleague:
Thank you for your letter of April 11, 2002, concerning the taxation of employee stock purchase plans and the difficulties many of your constituents are experiencing as a result of participation in their employer's plan. I apologize for this delayed response.
As you are aware, these issues were raised last year and are under consideration by the Department of Finance. As yet, there has been no decision as to whether there will be changes to the legislation. However, as you have had an ongoing interest in the resolution of this issue, I have arranged for Mr. Wayne Harding, a Canada Customs and Revenue Agency official of the Income Tax Rulings Directorate, to update you once the review is completed.
As noted in a letter sent to you on December 17, 2001, by my predecessor, the Honourable Martin Cauchon, Mr. Harding, as well as officials of the Vancouver Island Tax Services Office, have been assigned to assist individuals with any problems that may occur. Your constituents can reach Mr. Harding by writing to him at: 16th Floor, Tower A, Place de Ville, 320 Queen Street, Ottawa ON K1A 0L5, or by calling 0-613-957-9769 collect. Mr. Harding is aware of our correspondence and will be pleased to provide assistance.
I trust that the above information will assist you in responding to your constituents.
Sincerely,
Elinor Caplan
c.c.: Minister's Office
Political Assistant
Wayne Harding
957-9769
April 30, 2002
Our File 2002-013671
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