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Published

Major improvements to the SME Growth Stock Plan

SME Growth Stock Plan becomes SSP II

The name “SME Growth Stock Plan” will be replaced by “stock savings plan II” (SSP II) as of March 20, 2009.

For further information, see page A.64 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

Extension of the plan for five years

The SME Growth Stock Plan will be extended for five years, that is, until December 31, 2014.

For further information, see page A.60 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

Tax benefit increased to 150% for two years

The adjusted cost of a qualifying share or a valid share, for an individual or an investment fund, will be raised from 100% to 150% of the cost of such a share.

This increase will apply regarding qualifying shares and valid shares acquired after March 19, 2009, and before January 1, 2011, and included in the plan no later than on January 31 following the year of their acquisition.

For further information, see page A.61 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

Asset limit for an issuing corporation increased to $200 million

The asset limit of a qualified issuing corporation will be raised from $100 million to $200 million.

This change will apply regarding a public offering of shares for which the receipt for the final prospectus, or the filing exemption, as the case may be, is granted after March 19, 2009.

It will also apply regarding a registration application of a valid share on the list of the Autorité des marchés financiers (AMF) made after March 19, 2009.

For further information, see page A.61 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

Minimum holding period reduced by one year

The tax legislation will be amended so that an investor satisfies the minimum holding period requirement where the investor holds in his or her SME growth stock plan, on December 31 of the year of acquisition as well as on December 31 of the two subsequent years, qualifying shares, valid shares or qualifying securities for which the total adjusted cost is at least equivalent to the amount of deductions claimed under the SME growth stock plan over the preceding two taxation years.

This change will apply as of the 2009 calendar year.

For further information, see page A.62 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

Simplification of the procedure for registering a valid share on the AMF list

The current advance ruling application procedure for the inclusion of a valid share on the AMF list will be replaced with an application to Revenu Québec made on a prescribed form.

The new application procedure will apply regarding an application submitted after June 30, 2009.

For further information, see page A.62 in Additional Information on the Budgetary Measures, published by the Ministère des Finances.

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