If you purchased stock options from your employer between February 27, 2000 up to and including March 4, 2010 and you chose to defer the benefits of these security options, you’ll have to complete the T1212 form.
A security option benefit results when you buy securities through your employer at a price which is less than the fair market value (FMV) of the securities. In this case, you’ll have a taxable benefit received through your employment, which can be reduced by the amount you paid to acquire the option rights.
If you disposed of securities in 2024 and can’t defer your security benefits any longer, you will also need to complete the Schedule 3 form (and Schedule G, if you’re a resident of Québec) to report your capital gain or loss.
We invite you to consult this link from CRA under Security options benefits section for more details.
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