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ARTICLE · 31 MARCH 2009

SME Growth Stock Plan Revamped: Quebec Stock Savings Plan II

Blake, Cassels & Graydon LLP
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In its 2009-2010 budget (the Budget) tabled on March 19, 2009, the Quebec government announced that it would revamp and enhance the SME Growth Stock Plan (SME Growth Plan), rechristened the Quebec Stock Savings Plan II (QSSP II), in an effort to stimulate investment in Quebec-based companies by providing greater income tax incentives to investors.

CanadaFinance and Banking
Howard Levine
Howard Levine
Patrick Menda
Patrick Menda
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Copyright 2009, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Corporate Finance & Securities Regulation, March 2009

In its 2009-2010 budget (the Budget) tabled on March 19, 2009, the Quebec government announced that it would revamp and enhance the SME Growth Stock Plan (SME Growth Plan), rechristened the Quebec Stock Savings Plan II (QSSP II), in an effort to stimulate investment in Quebec-based companies by providing greater income tax incentives to investors.

Among the changes highlighted in the Budget, the asset-value threshold of corporations whose shares qualify for inclusion under the plan (Qualified Issuing Corporations) has been increased, the minimum hold period in respect of Qualifying Shares and Qualifying Securities (as hereinafter defined) has been reduced, the process for registering replacement shares as Valid Shares (as hereinafter defined) under the QSSP II has been streamlined, and the tax benefits to investors in

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