Mineral Tax Incentives In Ontario

Long-term stability, appropriate taxation and incentive policies are essential to attract and stimulate investment in the mineral sector. An outline of Ontario's $4.6 billion industry and associated tax incentives is presented. Producers are offered incentives under The Mining Tax Act, federal and provincial income tax acts for exploration and development by reducing Me after tax cost to 13-25¢ for each dollar spent. The Mining Tax Act provides generous processing incentives which have positive effects in enhancing investment and economic advantages of building processing facilities. Non-mining companies and entrepreneurial individuals can receive 25% of eligible exploration expenditures in grants/tax credits under the Ontario Mineral Exploration Program.