Stock Savings Plan


Also found in: Acronyms.

Stock Savings Plan

A tax credit available in some Canadian provinces to investors who buy shares in companies based in their own province. The credit is available only on one's provincial taxes, not on federal taxes.
References in periodicals archive ?
Therefore, to meet our requirements, the new plan would have to eliminate paper, cut staff in the stock savings plan office and in the field and reduce computer processing costs.
For instance, we'd always required employees to work for us one year before they became eligible to join the stock savings plan.
In the end, we chose an unbundled approach that included a guaranteed investment contract (GIC) manager, a trustee/investment manager, a recordkeeper and the stock savings plan office.
To make the transition easier, we transferred from the stock savings plan office to our new recordkeeping system in two stages.
From the administrative standpoint, the only real change in players was between the stock savings plan office and our recordkeeper.
Every morning, the trustee receives information on purchases and sales from the recordkeeper and stock savings plan office, which it then processes.
Besides, the employees are new owners of the corporation through 401(k)s and other stock savings plans that are not recognized in the corporate process.