,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

            ,9=m,n ,circul>
    
,subject3 ,alb]ta ,/ock ,sav+s ,plan
,numb]3 #hg-c
,date3 ,may #h1 #aihg

#a4 ,! ,alb]ta ,/ock ,sav+s ,plan
  7,,assp7 ,program 2came e6ective
  ,febru>y #a1 #aihf4 ,9dividual 9ve/ors
  may claim ,,assp tax cr$its on _!
  p]sonal 9come tax returns = #aihf &
  subsequ5t ye>s4

       ,def9i;n (! ,alb]ta ,/ock
              ,sav+s ,plan
    
#b4 ,! ,alb]ta ,/ock ,sav+s ,plan is an
  >range;t 2t an 9dividual &a qualifi$
  d1l]1 ":by ! d1l] w rcv & hold eligi#
  %>es pur*as$ 0! 9ve/or = an ,,assp4 ,!

                                      #a
                 #hg-c               a#a
  9ve/or is 5titl$ 6a tax cr$it ag/
  ,alb]ta tax paya# = 9ve/+ 9 s* %>es4
#c4 ,a qualifi$ d1l] is a p]son :o is
  regi/]$ "u ! ,alb]ta ,securities ,act1
  is a memb] (! ,alb]ta ,/ock ,ex*ange &
  has a p]man5t e/abli%;t 9 ,alb]ta4

            ,%>e ,eligibil;y
    
#d4 ,a %>e is eligi# = an ,,assp if x is
  issu$ 0an eligi# corpor,n z "p (a %>e
  issue = : a ,c]tificate ( ,eligibil;y
  has be5 issu$ & has n be5 revok$4 ,a
  corpor,n )a p]man5t e/abli%;t 9
  ,alb]ta may rcv a ,c]tificate 0apply+
  6! ,prov9cial ,tr1sur] & satisfy+ !
  ,tr1sur] t bo? ! ,corpor,n &! %>e
  issue x proposes meet v>i\s crit]ia4
  ,a ,c]tificate w 9clude a classific,n
  (! corpor,n z an em]g+1 exp&+ or
  mature corpor,n1 ! classific,n 2+
  dep5d5t on ! assets & rev5ues (!
  corpor,n4
                                      #b
                 #hg-c               b#a
#e4 ,! 9ve/or m/ acquire ! eligi# %>es 9
  ! prim>y m>ket z ! f/ pur*as]4 ,x is
  nec t ! %>es 2 remitt$ directly 6!
  qualifi$ d1l] :o adm9i/]s ! 9ve/or's
  ,,assp1 ei 0! issu+ corpor,n or 0ano!r
  qualifi$ d1l]4 ,if1 9/1d ( hav+ ! %>es
  deposit$ directly 6an ,,assp1 ! 9ve/or
  7 6take posses.n ( !m1 ! %>es wd 2
  r5d]$ 9eligi# = ,,assp tax cr$its4 ,x
  is ess5tial1 "!=e1 t ! %>e c]tificate
  2 held s9ce issu.e
--------------------------------------#b
  0a qualifi$ d1l]1 or x m/ 2 issu$ &
  regi/]$ 0! corpor,n 6a qualifi$ d1l]
  or designate4
#f4 ,"! is a g5]al prohibi;n on %>es 2+
  eligi# = an ,,assp if !y alr qualify =
  o!r gov]n;t grants or tax cr$its1 =
  example3
  7a7 a grant "u ! ,small ,busi;s ,equ;y
    ,corpor,ns ,act 7,alb]ta71
  7b7 a %>e-pur*ase tax cr$it1 or
  7c7 a sci5tific rese>* & develop;t tax
    cr$it4                            #c
                 #hg-c               a#b
#g4 ,%>es w n qualify = an ,,assp if !y
  7 acquir$ pursuant 6a divid5d re9ve/;t
  plan or an employee /ock pur*ase plan4
  ,%>es acquir$ z a /ock divid5d w n
  qualify = an ,,assp4
#h4 ,%>es m/ 2 acquir$ on or 2f ,decemb]
  #ca1 #aihi 6qualify = an ,,assp1 )!
  excep;n 2+ made = %>es : meet
  prescrib$ 3di;ns & : >e acquir$ simply
  6replace )drawn %>es4

         ,claimant ,eligibil;y
    
#i4 ,6qualify = an ,,assp tax cr$it1 !
  claimant m/ 2 an 9dividual :o resid$ 9
  ,alb]ta on ! la/ "d (! tax,n ye>1 & :o
  pur*as$ ! eligi# %>es & designat$ !m =
  an ,,assp4 ,a tru/ or corpor,n is
  9eligi# 6claim an ,,assp tax cr$it4
#aj4 ,if an eligi# 9ve/or 0 n d1l+ at
  >m's l5g? )! corpor,n at any "t dur+ !
  #ab mon?s prec$+ ! date ! 9ve/or

                                      #d
                 #hg-c               b#b
  acquir$ eligi# %>es (! corpor,n1 ^?
  %>es w n 2 eligi# = an ,,assp tax
  cr$it4

           ,9itiat+ an ,,assp
    
#aa4 ,an 9ve/or %d 3tact a qualifi$
  9ve/;t d1l] & obta9 9=m,n 3c]n+ %>e
  issues t >e eligi# "u ! ,,assp
  program4 ,! d1l] c >range an ,,assp 9
  ! 9ve/or's "n & acquire eligi# %>es on
  ! 9ve/or's 2half4 ,! d1l] w record !
  %>es 9 an ,,assp a3.t 9 ! 9ve/or's "n1
  ma9ta9 ! a3.t1 record all transac;ns1
  & provide an annual ,/ate;t ( ,9ve/;t4
  ,! ,/ate;t ( ,9ve/;t w report !
  8acquisi;n co/ am.t0 7,maximum
  pot5tial tax cr$it am.t7 ( all eligi#
  %>es pur*as$ & 3tribut$ 6a /ock sav+s
  plan dur+ ! ye>1 &! 84posi;n co/ am.t0
  ( all eligi# %>es )drawn f a plan dur+
  ! ye>4 ,! def9i;ns ( 8acquisi;n co/
  am.t0 & 84posi;n co/ am.t0 >e giv5 9
  #ab 6#ae 2l4                        #e
     ,acquisi;n ,co/ ,am.t/,4posi;n   #c
               ,co/ ,am.t
    
#ab4 ,! 8acquisi;n co/ am.t0 (a %>e is !
  product ( xs 8co/ am.t0 &! 8eligi#
  p]c5tage0 applica# 6! %>e issue4 ,!
  8co/ am.t0 (a %>e 9cludes "uwrit]s'
  fees b excludes brok]age fees1 cu/ody
  fees or simil> *>ges4 ,if an eligi#
  %>e/w>rant unit is pur*as$1 ! 5tire
  co/ ( acquisi;n is attributa# 6! %>e &
  xs co/ am.t is n a6ect$ 0a subsequ5t
  4posi;n (! w>rant7s74 ,on ! o!r h&1 if
  a w>rant is ex]cis$ 6acquire an eligi#
  %>e1 ! co/ (! w>rant is n 9clud$ 9 !
  co/ am.t (! %>e4
#ac4 ,if a %>e is acquir$ = 3sid],n o!r
  ?an ca% or w>rants1 ! co/ am.t (! %>e
  is ! fair m>ket value (! 3sid],n
  surr5d]$ =! %>e xf1 net ( brok]age or
  simil> *>ges4
#ad4 ,! 8eligi# p]c5tages0 w v>y dep5d+
  on ! classific,n (! issu+ eligi#
  corpor,n4 ,! classific,ns & relat$
  p]c5tages >e3                       #f
                 #hg-c               a#c
  ,corpor,n """""""" ,eligi#
  ,classific,n """"" ,p]c5tage
  ,em]g+ ,corpor,n   #cj@3p
  ,exp&+ ,corpor,n   #ae@3p
  ,mature ,corpor,n  #aj@3p
  
#ae4 ,! 84posi;n co/ am.t0 ( an eligi#
  %>e : is 3tribut$ 6a /ock sav+s plan
  is xs acquisi;n co/ am.t4 ,if ! same
  type & class ( eligi# %>es ( an eligi#
  corpor,n 7 acquir$ 0an eligi# 9ve/or
  at di6]5t acquisi;n co/s & 3tribut$ 6a
  /ock sav+s plan1 ! 84posi;n co/ am.t0
  w 2 an am.t det]m9$ 0a r1sona# me?od1
  appli$ 3si/5tly 6all s* %>es4

     ,det]m9,n ( ,,assp ,tax ,cr$it
    
#af4 ,! tax cr$it e>n$ is ! less] (3
  7a7 acquisi;n co/ am.t ( %>es pur*as$
    & 3tribut$ 6! /ock sav+s plan1 &
  7b7 4#c1jjj
#ag4 ,eligi# %>es m/ 2 ma9ta9$ 9 an
  ,,assp = two cal5d> ye>s 7,janu>y   #g
                 #hg-c               b#c
  #a 6,decemb] #ca7 foll[+ ! ye> (
  pur*ase4 ,%>es may 2 )drawn f ! ,plan
  prior 6! expiry (! two-ye> p]iod
  provid+ !y >e replac$ 0o!r eligi# %>es
  : h at l1/ ! same tax cr$it value4 ,if
  %>es >e )drawn & n replac$1 ! cr$it
  e>n$ = _! pur*ase is 4all[$ &1 if x
  has alr be5 claim$1 x w 2 subject
  6recapture4
--------------------------------------#d
#ah4 ,if ! ,alb]ta tax o!rwise paya# is
  less ?an ! tax cr$it e>n$1 ! claimant
  is p]mitt$ 6c>ry =w>d ! di6];e4 ,"! is
  no provi.n =a c>ry-back 6a previ\s
  tax,n ye>4
#ai4 ,= #aihg & subsequ5t tax,n ye>s1 a
  claimant w h 6take 963sid],n any c>ry-
  =w>d ( unus$ cr$its & any recaptures (
  cr$its previ\sly rcvd4
#bj4 ,"! is no limit 6! numb] ( ,plans :
  an 9ve/or may h ) qualifi$ d1l]s4 ,!
  claimant m/ a7regate all ,plans 9
  det]m9+ ! tax cr$it & is limit$ 6a
  maximum cr$it ( 4#c1jjj 9 respect   #h
                 #hg-c               a#d
  (a "picul> tax,n ye>4 ,if a claimant
  has 3tribut$ m %>es 6an ,,assp ?an nec
  6a3umulate a 4#c1jjj tax cr$it 9 a
  "picul> tax,n ye>1 ! excess am.t _c 2
  c>ri$ =w>d4 ,h["e1 if an 9ve/or lat]
  4poses ( eligi# %>es1 ! 4posi;n w 2
  assum$ 6h be5 f ! excess ( eligi# %>es
  f/1 s z n 6reduce ! ,,assp tax cr$it
  unnecess>ily4
#ba4 ,if %>es >e )drawn f an ,,assp 2f
  !y h be5 reta9$ = two full cal5d>
  ye>s1 a recapture (! ,,assp tax cr$it
  claim$ 9 respect (! 4pos$ %>es wd
  ord9>ily o3ur4 ,? recapture may 2
  avoid$1 h["e1 0replac+ ! )drawn %>es )
  o!r eligi# %>es : h a tax-cr$it value
  equal 6t (! )drawn %>es4 ,s9ce ^!
  replace;t %>es >e nec 6prev5t a
  recapture ( tax cr$its previ\sly
  claim$1 !y w n 5title ! 9ve/or 6fur!r
  cr$its4
#bb4 ,! transf] ( eligi# %>es 6an ,,rrsp
  is 3sid]$ 6be a )drawal ( %>es f !
  ,,assp4 ,recapture may o3ur if      #i
                 #hg-c               b#d
  replace;t %>es >e n acquir$ 0!
  claimant4

      ,claim+ ! ,,assp ,tax ,cr$it
    
#bc4 ,6rcv an ,,assp tax cr$it1 a claim
  on =m ,t#hi m/ 2 fil$ 0! claimant )!
  p]sonal 9come tax return or )9 ! #ij-
  "d p]iod = objec;n4 ,! claim m/ 2
  support$ 0a ,/ate;t ( ,9ve/;t = ea*
  ,plan 9 : designat$ eligi# %>es >e
  held4 ,^! /ate;ts >e provid$ 0! 9ve/;t
  d1l]s on or 2f ,m>* f/ ( ea* ye>1 %[+
  summ>y data relat+ 6! ,plans =! prec$+
  cal5d> ye>4

       ,transf]r+ or ,t]m9at+ an
                 ,,assp
    
#bd4 ,an 9ve/or c direct an 9ve/;t d1l]
  6transf] %>es f "o plan 6ano!r4 ,!
  9ve/or m/ n take cu/ody (! %>es 2+
  transf]r$2 o!rwise1 !
                                     #aj
                 #hg-c                #e
  9ve/or w 2 3sid]$ 6h )drawn ! %>es f !
  f/ plan &! %>es w n 2 eligi# = deposit
  9 ano!r ,plan4 ,z 4cuss$ 9 #ag abv1 !
  )drawal ( %>es 2f ! expiry (! #b-ye>
  ret5;n p]iod may result 9 4all[.e or
  recapture (a tax cr$it4
#be4 ,af ! expiry (! #b-ye> ret5;n
  p]iod1 %>es may 2 )drawn f an ,,assp
  )\t 2+ replac$4 ,at t po9t1 ! 9ve/or c
  d1l )! %>es z ) any o!r %>es4 ,4posi;n
  w result 9 a capital ga9 or loss4

              ,o!r ,items
    
#bf4 ,divid5ds rcvd on %>es held 9 an
  ,,assp d n a6ect ! am.t (! tax cr$it
  5title;t4 ,divid5ds w rcv ! normal tax
  tr1t;t = s* 9come4
#bg4 ,%>e value fluctu,ns dur+ ! p]iod
  !y >e held 9 an ,,assp d n a6ect !
  ,,assp 5title;t4 ,! ,,assp tax cr$it w
  n reduce ! adju/$ co/ base (! %>es &1
  "!=e1 w n 9cr1se any capital ga9
  r1liz$ on 4posi;n4 ,a loss on      #aa
                 #hg-c               a#e
  4posi;n ( ^! designat$ %>es w1 h["e1 2
  reduc$ 0! ,,assp tax cr$it rcvd 9
  respect ( ^! %>es4
#bh4 ,9 ! ev5t (! d1? (a hold] ( an
  ,,assp1 4posi;ns f ! plan : >e
  3sequ5tial 6! d1? >e deem$ n 6be a
  4posi;n = purposes (! ,9come ,tax
  ,act4 ,9 3sequ;e1 "! w 2 no recapture
  ( tax cr$its claim$ previ\sly 9
  respect (! %>es s 4pos$ (4 ,9 ! ev5t t
  ! %>es 9 "q _h be5 acquir$ )9 ! ye> b
  prior 6d1?1 a cr$it may 2 claim$ 9
  respect (! %>es =! ye> ( d1?4 ,any
  4posi;ns ( %>es o3urr+ prior 6d1? w 2
  subject 6possi# recapture 9 ! normal
  mann]4
#bi4 ,if ! ,prov9cial ,tr1sur] revokes
  or am5ds a ,c]tificate ( ,eligibil;y1
  any am.ts 6be recov]$ ) respect
  6ov]/at$ ,,assp tax cr$its w 2 recov]$
  f ! corpor,n t issu$ ! %>es4 ,any %>es
  acquir$ 0an 9ve/or = : ! ,c]tificate (
  ,eligibil;y is lat] revok$1 w /
  qualify = an ,,assp tax cr$it4     #ab
                 #hg-c               b#e
  ,! pur*ase & design,n ( %>es 6an
  ,,assp m/ o3ur prior 6! ,c]tificate
  revoc,n 9 ord] =! %>es 6qualify =!
  ,,assp tax cr$it4



















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