The British Columbia government said Monday it is planning to extend its mining flow-through share tax credit through the end of 2014.
The proposed extension is subject to the final approval of the legislature in the spring. If approved, the government will extend the tax credit, which was originally scheduled to expire on Dec. 31, 2013, to Dec. 31, 2014.
The B.C. government estimates that the tax credit will be valued at $10 million, in line with the value of the credit last year. It says the credit helps junior exploration companies attract investment and continue making resource discoveries.
“We’re extending the tax credit because junior exploration companies are on the front lines. It’s their discoveries that expand the mining sector and the province’s economy by finding new opportunities which create jobs not just in our rural communities, but in the downtowns of urban centres like Vancouver as well,” said Bill Bennett, minister of energy and mines and minister responsible for core review.