New Measures to Support Canadian Mining
From Finance Canada website:
“The Government proposes to extend the 15% Mineral Exploration Tax Credit for investors in flow-through shares for an additional year, until March 31, 2016. The credit was scheduled to expire on March 31, 2015. The Mineral Exploration Tax Credit—referred to as the “lifeblood” of junior mineral exploration—will support the mineral exploration efforts of junior exploration companies. During a challenging global economy, in the struggle to secure capital, it has helped keep investment flowing.
The Government also announced proposed changes to ensure that the costs associated with undertaking environmental studies and community consultations that are required in order to obtain an exploration permit will now be eligible for treatment as Canadian Exploration Expenses (CEE). As CEE, these costs would be immediately deductible for tax purposes and also be eligible for flow-through share treatment. In the case of eligible projects, they could qualify as well for the 15% Mineral Exploration Tax Credit.”
See the complete Finance Canada release here.
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