Tax Credit
Mineral Exploration Tax Credit
The Saskatchewan Mineral Exploration Tax Credit Program (SMETC) offers a non-refundable 10% tax credit to Saskatchewan taxpayers who invest in eligible flow-through shares (FTS) issued by mining or exploration companies after March 31, 2014. This provincial tax credit follows the eligibility rules of the federal Investment Tax Credit for Exploration.
- 4.5/5.0
- Saskatchewan. Agriculture, Natural Resources, and Industry
- All levels
- Last updated 3 years ago
- English
Description
The Saskatchewan Mineral Exploration Tax Credit Program (SMETC) offers a non-refundable 10% tax credit to Saskatchewan taxpayers who invest in eligible flow-through shares (FTS) issued by mining or exploration companies after March 31, 2014. This provincial tax credit follows the eligibility rules of the federal Investment Tax Credit for Exploration.- To encourage long-term, sustainable development of Saskatchewan's mineral resources and to enhance Saskatchewan's competitiveness in mineral exploration, a temporary tax credit (the SMETC) was introduced by the Government of Saskatchewan in October 2000, and reintroduced on April 1, 2008. The reintroduction demonstrates the government's commitment to encourage investment in the mineral exploration sector.