VANCOUVER – The
Association for Mineral Exploration British Columbia (AME BC) supports the province’s commitment to a balanced budget for 2016 and continuing support for the mineral exploration and development industry.
The association is especially pleased that the BC mining exploration tax credit has been extended through Jan. 1, 2020. The regular rate of 20% will apply except in areas affected by the mountain pine beetle where the rate will be 30%.
The mining flow-through share tax credit, that had expired on Dec. 31, 2015, was also renewed.
"We further encourage the BC government to work with the federal government to ensure that the tax incentives announced today are complemented with changes to the definition of Canadian Exploration Expenses (CEE) to include costs incurred for environmental studies or community consultations related to mineral exploration," says Gavin C. Dirom, president & CEO of AME BC. "Currently, company expenses related to these important activities are generally not CEE-eligible.
"The incentives announced today will help sustain the industry during these challenging times while committing to a balanced budget," he noted.
To join the AME BC, go to
www.AMEBC.ca.
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