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Federal Budget Extends Mineral Exploration Tax Credit until March 31, 2019

Posted in Tax
Jaspreet KaurYaroslavna NosikovaGabrielle RichardsJustin Shoemaker

On February 27, 2018, Finance Minister Bill Morneau tabled in the House of Commons the Liberal Government’s third budget, Equality + Growth = A Strong Middle Class (“Budget 2018”).  Budget 2018 proposes to extend, for another year, until March 31, 2019, eligibility for the 15-per-cent mineral exploration tax credit on eligible expenses under flow-through share agreements. The mineral exploration tax credit helps junior exploration companies to raise capital from  individual investors to finance “grassroots” mineral exploration away from an existing mine site. For a discussion of these tax measures as well as others in Budget 2018, please see McCarthy Tétrault’s Budget 2018 Commentary.