Exploration in British Columbia hit paydirt on Monday, with the Premier announcing that two investment-friendly tax credits would no longer be evaluated on a year to year basis.
Speaking at Roundup 2019, the annual meet-up organized by AMEBC (Association for Mineral Exploration), Horgan said his government will adopt the recommendations of the Mining Jobs Task Force in making the Mining Flow-Through Share (MFTS) tax credit, and the B.C. Mining Exploration Tax Credit (METC) permanent incentives to support investment in mining.
“We are pleased that the provincial government is living up to their commitment to support the mineral exploration and mining industry and its future in this province,” said AMEBC president and CEO Edie Thome.
The MFTS provides a non-refundable B.C. income tax credit to individuals who have purchased flow-through shares from a B.C. mining company. The tax credit is worth 20 percent of mining expenditures that the mining company flows through to the individual.
The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C., and is worth 20 or 30 percent of qualified mining exploration expenditures.
For the rest of this article: http://www.mining.com/bc-exploration-tax-credits-made-permanent/