When your RSUs vest or you exercise options, the benefit is already taxed as employment income on your T4. That taxed value becomes your adjusted cost base. Miss it and the CRA sees a zero-cost sale, taxing the same dollars twice. Sched3 sets the right ACB at every vest, purchase, and exercise.
Enter your RSU vests, ESPP purchases, and option exercises — or import them. Sched3 captures the date, quantity, and fair market value.
The cost base of each lot is set to the value already taxed on your T4, converted from USD at the Bank of Canada rate on the vest or exercise date where needed.
Those lots pool with the rest of your holdings, so when you sell, the gain is measured against the correct cost base and flows into your Schedule 3.
Sched3 models the events that change your cost base and your taxable benefit, each handled on the right date.
Because the benefit already appears on your T4, Sched3 uses that same value as your cost base — keeping your employment income and your capital gains consistent instead of taxing the benefit twice.
Equity-compensation tracking is part of the Active plan and merges directly into your ACB and capital-gains figures.
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It is the fair market value of the shares on the vesting date — the same amount added to your T4 as a taxable employment benefit. Because you were already taxed on that value, it becomes your adjusted cost base, so only the gain above it is taxed again when you sell.
Effectively, yes. The vest is taxed as employment income on your T4. If you then sell and report a zero cost base, the full proceeds are taxed again as a capital gain, even though part of that value was already taxed at vest. Setting the ACB to the vested value prevents the double tax.
Each event is converted to Canadian dollars at the Bank of Canada rate on the vest, purchase, or exercise date. The subsequent sale is converted at its own date, so currency movement between the two dates is part of your capital gain. Sched3 applies the conversions automatically.
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