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- Hey Lydia, guess what? I finally was able to exercise my vested stock option from work and it looks like I'll make a pretty penny once I dispose of them! Thailand here we come!
- Thank you, Lydia! Thailand here we come!
- Can't wait! You made sure to report it to the CRA right?
- Congratulations, Charmaine! I'm so happy for you! You deserve it after working so hard for all these years!
- Yes, of course! Completely legal! I also need to convert them to CAD!*whispers* But since the CAD is doing well right now, I'm going to use the granting date instead of the exercise date.
- Well, they give me the stock options on a certain date. And it HAPPENS to be at a date where the CAD was lower than the USD. *wink* They'll never know.
- Hmm...I don't know. Isn't that like kind of cheating the system? I mean, you exercised them now. So, it would make sense to use the exchange rate of the date of exercise.
- Yea, I guess it would be hard for them to tell.
- A few months later...
- Your Honourable Justice, Ms. Charmaine must report the profit that she made on her stocks in Canadian dollars. She also has to report this profit when she bought the stocks, not when she sold them. Just because she has to convert her stocks from American dollars to Canadian dollars shouldn't change the date she must use to report her profit!
- Why did I not just listen to Lydia?
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