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ARTICLE · 25 MARCH 2013

Cassels Brock Federal Budget Brief 2013

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The following is a summary of certain fundamental tax measures contained in the Canadian federal government’s budget released on March 21, 2013.

CanadaTax
Cassels Brock & Blackwell LLP
Cassels Brock & Blackwell LLP
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Published: 03/21/2013

The following is a summary of certain fundamental tax measures contained in the Canadian federal government's budget released on March 21, 2013.

MINING AND ENERGY SECTOR

Budget 2013 contains several proposals relevant to the mining and energy sectors, some of which will be welcome by certain taxpayers while other changes may have adverse implications to taxpayers incurring pre-production expenses and making investments in new mines and mine expansion.

Flow-Through Shares: Extension of the Mineral Exploration Tax Credit ("METC")

 Flow-through shares provide a major source of new capital to junior mining companies.  These shares are attractive to investors for various reasons, including (i) the ability to deduct at the investor-level certain exploration expenses incurred by the issuing corporation; and (ii) the ability in certain circumstances to claim a special 15% METC in respect of the investment in the share. The existing METC is

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