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Ontario Ltd. is a Canadian Controlled Private Corporation (CCPC). Mary Stewart, one of the employees, was granted a stock option on October 11, 2021 for
Ontario Ltd. is a Canadian Controlled Private Corporation (CCPC). Mary Stewart, one of the employees, was granted a stock option on October 11, 2021 for 15,000 shares at $3 per share. Mary exercised the stock option on September 30, 2022 when the market price was $9 per share. In February 2023, Mary purchased a new home and sold the shares for $14 each. The fair market value on October 11, 2021 was $3.
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Under Canadian tax laws the taxation of stock options for employees depends on whether the options are considered Qualified or NonQualified stock opti...
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
