Mineral Exploration Tax Credit Extended for Another Year
As has become a regular occurrence, the federal government has extended the 15% mineral exploration tax credit for another year (to March 31, 2018). The credit had been scheduled to expire on March 31, 2017.
The credit helps junior mineral exploration corporations raise capital by flowing some of their unused deductions through to investors who acquire flow-through shares. The investors can then claim the deductions against income. In many cases, the exploration corporation would have insufficient profit to make use of the deductions.
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