Wrote this article for this community (cc John Ruffolo) and to understand the stock option taxation in Canada and the US for myself -- there is a bill which just recently passed the US House which would enable employees to defer taxes on their stock options until the shares are sold. In Canada, this is muddy waters - employees of a non-Canadian Controlled private corp get taxed when they exercise the options; and so do Canadian residents who hold options with a US entity.
Are there any efforts underway in Canada to catch up to the US here ? Who can instigate that ?
For those with no idea whatsoever of the terms here - I have tried to describe them here the best I can. (Disclaimer: I am not a lawyer or an accountant, just a blogger/founder who can and will be wrong on things...but I have done my research): ... See MoreSee Less
John RuffoloVarun Mathur you are correct. For non-CCPCs, taxation occurs on exercise not ultimate sale. For CCPCs, employees must meet certain tests in order to get the deferral. I am not aware of any of these rules changing.
Craig HunterQuality post - had to wade through this personally.
10 hours ago · 1
Eric KryskiNice one Varun. I had a similar one around the time the election was going on. Bookmarked yours for reference! Thanks for writing! It would be great to see the Canadian government step on the gas and be aggressive with tax breaks for tech. [email protected][email protected]b6#.vij9q1hoh.
Abrar SiddiquiFirst time for us at Lucova Inc. participating in the event. Didn't expect such a large turnout as we got over 100 folks visiting us right from 3PM on the dot. Very encouraging to see so many young people interested in startups.
Hey startup peeps! Do you have recommendation for a USD credit card for businesses by Canadian banks? Inclined to just stick with my regular bank (scotia) but wondering if there's more info/features I should be looking into. Any tips appreciated. ... See MoreSee Less
Misha PlotkineIf you're ok with using personal accounts for it, the Amazon visa as Mark van Berkel mentioned is the best choice, the no fx fee (you get charged the visa overnight rate which is usually just a bit above spot) means you will actually get a better rate on the fx conversion than with any Canadian bank because they take a spread to the spot rate. The same terms are actually provided on the Marriott rewards premier visa
Melissa Shapiro NightingaleTd is useful on the east coast of the US but only so so on the west so check state coverage if you know where you're likely to use it. BMO has a relationship with Harris bank out of Chicago. Scotia has a relationship with BoA which is everywhere in the US. And AmEx is a great US business card but don't think it's integrated with AmEx Canada (or wasn't when I moved here a couple years ago). Good luck!!