What is a Stock Savings Plan?
A stock savings plan is a Canadian taxation system that offers tax benefits to Canadian residents who purchase the initial public offerings (IPOs) of local companies.
How Does a Stock Savings Plan Work?
Each Canadian province has its own stock savings plan. For example, Canada's Quebec province has the Quebec Stock Savings Plan, which provides tax credits to residents of Quebec who purchase new issues of stock from companies located in Quebec.
Why Does a Stock Savings Plan Matter?
Stock savings plans are an effort by the Canadian government to stimulate regional economic growth. This is accomplished by offering tax incentives to those who provide capital funding to new companies by purchasing the IPOs of local companies.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
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