这是可靠消息预计的新题！

<P>这是可靠消息预计的新题，谁能帮我看看解题思路？我可以提供其他新题预测。</P>
<P>&nbsp;</P>
<P>问：红色字体具体代表什么意思？</P>
<P>&nbsp;</P>
<P>If an employee is granted an option to acquire shares in their company, a taxable gain will arise when the option is exercised or forfeited. note that the granting of the option has no tax implications.</P>
<P>&nbsp;</P>
<P><FONT color=red>Exercise of option</FONT></P>
<P>If a share option is exercised the assessable amount will be the difference between the market value of the shares at the date of <FONT color=red>exercise</FONT> less any costs incurred by the employee, e.g. the <FONT color=red>cost of the shares</FONT> and any sums <FONT color=red>paid for the option</FONT>.</P>
<P>&nbsp;</P>
<P>Example</P>
<P>Mr Ling has the option to purchase 500 shares in his employing company. The option cost $1 per share and the <FONT color=red>exercise price</FONT> was $12.</P>
<P>&nbsp;</P>
<P>What taxable gain (if any) would arise if:</P>
<P>&nbsp;</P>
<P>(a) Mr Ling exercised the option on 1 Nov 2005 when the shares were valued at $30?</P>
<P>(b) Mr Ling then sold the shares in March 2006 for $40 each?</P>
<P>&nbsp;</P>
<P>Solution</P>
<P>(a) Mr Ling would be assessable on:</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $</P>
<P>Market value ($30 x 500)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,000</P>
<P>Less:&nbsp;<FONT color=red>Cost of&nbsp;option</FONT> ($1 x 500)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(500)</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT color=red>Cost of shares</FONT> ($12 x 500)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6,000)</P>
<P>&nbsp;</P>
<P>Assessable &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,500</P>
<P>&nbsp;</P>
<P>(b) There is no taxable gain on the actual sale of shares as this is a capital profit.</P>
<P>&nbsp;</P>
<P>Forfeit or sale of option</P>
<P>&nbsp;</P>
<P>If the option is forfeited or sold, the assessable amount will be the difference between the proceeds received for the sale or forfeiture less the cost of the option.</P>
<P>&nbsp;</P>
<P>Example</P>
<P>&nbsp;</P>
<P>Following on from the above example, what difference would it make if, instead of exercising the option on 1 Nov 2005, Mr Ling agreed to forfeit the option and received cash consideration of $5,000?</P>
<P>&nbsp;</P>
<P>Solution</P>
<P>Mr Ling would be assessable on:</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $</P>
<P>Proceeds received&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,000</P>
<P>Less: Cost of option ($1 x 500)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (500)</P>
<P>Assessable&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,500</P>

这是和期权有关的。

应该就是行权后所得的收益