Finance has proposed to extend the 15% Mineral Exploration Tax Credit for an additional year.
This tax credit, which applies to flow-through share agreements entered into on or before March 31, 2018, was previously scheduled to expire on March 31, 2017.
The Mineral Exploration Tax Credit is available to individuals who invest in mining flow-through shares. It is equal to 15% of specified mineral exploration expenses incurred in Canada and renounced by a corporation to flow-through share investors.
For more information, contact your KPMG adviser.
Information is current to March 07, 2017. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500