Recent Income Tax Act amendments affecting employee stock awards: More choices, fewer options

By Mark Firman ( August 11, 2021, 10:59 AM EDT) -- As first previewed by the Department of Finance in 2019, this year’s federal budget bill, Bill C-30, An Act to implement certain provisions of the budget tabled in Parliament, amended the Income Tax Act (Canada) (the Act) to place an annual cap on the favourable employee stock option tax deduction. The amendments became effective for option agreements made on and after July 1, 2021....