Tax Credits – B.C. Mining Flow-Through Share Tax Credit

The B.C. Mining Flow-Through Share Tax Credit (MFTS) program allows individuals who invest in flow-through shares to claim a non-refundable tax credit equal to 20% of their B.C. flow-through mining expenditures.

Any unused credit at the end of a tax year may be carried back 3 years or forward 10 years.

B.C. flow-through mining expenditures are specific exploration expenses incurred after July 30, 2001 and renounced by the corporation issuing the flow-through shares.

The expiry date for the MFTS program is December 31, 2008.

For more information, please see Bulletin PIT 001, British Columbia Mining
Flow-Through Share Tax Credit.

For information on the related federal tax credit, please visit the Natural Resources Canada website (opens in new window).

Claiming the Credit

To claim the credit, please complete Form T1231, B.C. Mining Flow-through Share Tax Credit and file it with your T1 Income Tax Return. Enter the amount of the credit you are claiming on line 17 of Form BC428, British Columbia Tax.

Legislation