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Employee stock option taxation is tricky, and things get more complicated if the option price is denominated in a foreign currency. Take the recent case involving Natale Ferlaino, decided by the Federal Court of Appeal last month (Ferlaino v The Queen, 2017 FCA 105), which involved options denominated in U.S. dollars.
http://www.advisor.ca/tax/tax-news/pitfalls-with-employee-stock-option-taxation-236260?rss=yes