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ARTICLE · 23 FEBRUARY 2017

CRA Releases New Guidelines Regarding Canadian Exploration Expenses

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On the heels of some recent positive legislative changes regarding the tax treatment of environmental study and community consultation costs, the Canada Revenue Agency (CRA)...

CanadaTax
Blake A. Haarstad
Blake A. Haarstad
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On the heels of some recent positive legislative changes regarding the tax treatment of environmental study and community consultation costs, the Canada Revenue Agency (CRA) has revised its administrative guidelines for the mining industry regarding such expenses. These changes are a welcome development for the industry, and the new guidelines are helpful in providing insight regarding the CRA's views. Members of Canada's mining industry should take note, particularly since such expenses are a growing and more common part of any new mineral exploration project.

Background

At the Prospectors & Developers Association of Canada (PDAC) conference on March 1, 2015, the former Harper Government announced several changes to the mining tax rules, including another extension to the 15 percent mineral exploration tax credit for flow-through share investors.  However, less attention was paid to another announcement from the same conference involving the loosening of the

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