Stock Savings Plan
Definition of 'Stock Savings Plan'In Canada, a plan wherein certain provinces (such as Alberta, Ontario and Quebec) provide tax credits for provincial income taxes to residents who purchase certain investments, in particular the initial public offerings (IPOs) of local companies. Stock savings plans provide tax benefits to Canadian residents and are intended to encourage residents to invest in the provincial economy. Each Canadian province has its own unique stock savings plan. |
|
Investopedia explains 'Stock Savings Plan'The Quebec Stock Savings Plan, for example, is the plan for the Canadian province of Quebec. This particular plan provides tax benefits to Quebec residents who buy new issues of stock from local Quebec companies. In March 2012, stocks of Nemaska Lithium, an exploration and development company in Quebec's James Bay Region, were listed as "valid shares" and qualified for the province's stock savings plan. |
Related Definitions
Articles Of Interest
-
Tax-Saving Tips For Canadian Taxpayers
Find out how to get a bigger return. -
Tax Breaks For Canadian Families
Canadians have a lot of advantages when it comes to family tax perks. -
Tax Tips For The Individual Investor
We give you seven guidelines to help you keep more of your money in your pocket. -
Invest In Your Education With An RESP
All Canadians should know the benefits of these flexible education savings plans. -
Estate Planning For Canadians
Trusts, wills, taxes and rules differ by country. Find out what you need to know about estate plans in Canada. -
Know Your Stock Cost Basis
Understanding equity cost basis is critical for tracking the gains or losses of an investment. -
Women: Invest In Your Financial Literacy
Learning about money may seem intimidating, but it's not as hard as it looks. -
IRS Special Enrollment Examination (SEE) Study Guide
The enrolled agent status is the highest credential awarded by the IRS. -
Browser Extensions That Save You Money
There is a widening range of online tools that have been designed to help citizens save their hard-earned money. -
How To Deduct Your Job Search Expenses
With approximately 12 million Americans out of a job right now, many people are spending significant dollars to be noticed by potential employers. Fortunately, some of these job-search costs ...
Free Annual Reports