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:
Request to confirm the Department's interpretation of paragraphs 7(1)(b), 7(3)(b) and 110(1)(d) concerning stock option plans where the taxpayer can elect to receive cash in lieu of shares.
Position TAKEN:
Reasons FOR POSITION TAKEN:
5-941973
XXXXXXXXXX A. St-Amour
Attention: XXXXXXXXXX
September 15, 1994
Dear Sirs:
Subject: Stock Option Plans
Election to receive cash in lieu of shares
This is in response to your letter of August 2, 1994, requesting that we confirm the Department's position stated in a technical opinion letter.
The Department's interpretation of paragraphs 7(1)(b), 7(3)(b) and 110(1)(d) is presently under review. Accordingly, we are unable to express any opinion or provide any ruling on this matter until our review is completed.
When this matter is resolved, we will contact you.
Yours truly,
for Director
Financial Industries Division
Rulings Directorate
Policy and Legislation Branch
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