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 Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues: Can we confirm how the February 28, 2000 budget proposal re the deferral of stock option benefits will apply?
Position: No.
Reasons: There is no legislation released yet to provide any comments with respect to how the Act will apply to defer the recognition of stock option benefits.
XXXXXXXXXX 2000-005408
M. P. Sarazin
Attention: XXXXXXXXXX
November 22, 2000
Dear Sirs:
Re: Budget Proposal to Defer Stock Option Benefit
This is in reply to your letter of November 1, 2000, requesting an interpretation of the expressed intention of the proposal in the February 28, 2000 Federal Budget to allow for the deferral of stock option benefits where certain conditions are satisfied.
You would like an interpretation of the application of the budget proposal to a fact situation described in your letter.
As you noted, the Department of Finance has not issued any proposed legislation regarding the application of the stock option deferral measure introduced in the Federal Budget tabled on February 28, 2000. Consequently, we can not provide you with any interpretation regarding budget proposals relating to the deferral of stock option benefits until the relevant legislation is introduced by the Department of Finance.
Yours truly,
Roberta Albert, CA
for Director
Financial Industries Division
Income Tax Rulings Directorate
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