Stock savings plan is a government supported investment plan in Canada in order to stimulate investment in the country and foster economic growth. Under this plan the governments of various provinces of Canada incentivize the investor by giving tax exemptions for investing in initial public offers of local companies.
The investors in order to avail tax exemptions have to invest in those particular initial public offers which are mandated by the provincial authorities and stay vested for the time limit specified in the stock savings plan. Other terms and conditions of the savings plan include the minimum amount of stocks to be purchased, the time period of the year during which the stocks have to be purchased and other rights pertaining to both the investor and the company in which the investment is being made. This is a tool by which the government has created an ecosystem to encourage the entrepreneurs of the country and indirectly boost the economy of the land.
Stock savings plan
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