3 March 2015
Canadian Finance Minister Joe Oliver and Natural Resources Minister Greg Rickford have announced that Government proposes to extend the 15% Mineral Exploration Tax Credit for investors in flow-through shares for an additional year, until 31 March 2016. The tax credit applies to investors of junior mining companies that raise equity through flow-through shares.
Also proposed is treating the costs of undertaking environmental studies and community consultations required to obtain an exploration permit as Canadian Exploration Expenses. Such treatment would allow for the immediate deduction of such costs for tax purposes. The treatment also enables companies to “flow through” their unused deductions to investors using flow-through shares.
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