Ann: Proposed issue of securities - KWR, page-46

If you sold a stock and made a huge capital gain, then you reacquire the same stock and it tanks, you would only pay tax on the NET GAIN as long as you crystalized the loss by selling the stock again in the same FY. (assuming the original gain was not discounted and it exceeded your other accumulated losses for the FY),

There is nothing wrong with crystalizing a loss at any time to offset capital gains made in the period. The kicker is, in most circumstances, you can't acquire or REACQUIRE THAT SAME ASSET, that you will be making the loss on OR have made the loss on. That would be a wash sale.

I can't see how it can be interpreted any other way - Selling your shares in a stock for a loss, in order to participate in a SPP for the same stock, is a wash sale. Good luck!