Also Read: Tories Forgive Hugh JDS Tax Bills (Ottawa Citizen, Dec. 07)
In a notice published in the Canada Gazette (2007-11-14 Canada Gazette Part II, Vol. 141, No. 23), a remission order was granted to the former employees of SDL Optics, Inc., (now JDS Uniphase). The order has exempted employees from paying taxes and interest charges on income never received from shares acquired through their employee stock option plan. We believe this is very fair and reasonable.
However, the issue affects many other employees across Canada who participated in stock purchase plans or exercised employee stock options, and then received massive tax bills on income that they, too, never received because of a precipitous drop in share prices during the tech bubble bust.++ Action Item:
Note that CATA now has underway an SR&ED Advocacy Campaign as part of moving Canada to number one as an Innovation Nation. For a full review of the Campaign as well as business growth activities, please see the CATA Executive Dashboard.