NDP Plan to Boost Tax on Stock Options Seen Stunting Canada Tech
- Party would tax 100% of option earnings if it wins election
- Existing `loophole' benefits wealthiest CEOs, Mulcair says
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A plan to raise taxes on stock options by Canada’s New Democratic Party would hinder growth in the country’s burgeoning technology industry, which relies on share grants to attract talent, entrepreneurs and investors said.
Tom Mulcair’s NDP will tax 100 percent of stock-option benefits, up from the current 50 percent, if it wins power in the Oct. 19 election. The party, with socialist roots, is locked in a tight three-way race with Prime Minister Stephen Harper’s Conservatives and the Liberals, led by Justin Trudeau, who haven’t proposed any changes to the tax.