ARTICLE · 10 MARCH 2008

Canada´s 2008 Federal Budget Includes Good News For Mining Sector

Stikeman Elliott LLP

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The February 26, 2008 Canadian federal budget did not contain much in the way of significant tax changes.

CanadaTax

Stikeman Elliott LLP

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The February 26, 2008 Canadian federal budget did not contain much in the way of significant tax changes. Considering the track record of recent budgets, this is something of a relief. There were, however, a number of welcome proposals that affect the mining industry.

One clearly welcome proposal is the extension of the flow-through mining tax credit by another year. In addition, Budget 2008 provides a number of revisions to the "section 116" clearance certificate rules that have frustrated international investors in Canadian corporations. These are discussed in more detail below and may decrease the administrative headaches associated with investing into Canada.

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