During the writ period (today until October 28, 2024), this website will be limited to information about emergencies and public safety concerns.
For details on immigration, visit Immigrating and Moving to Saskatchewan.
Get answers with our Frequently Asked Questions.

Pendant la période électorale (aujourd’hui jusqu’au 28 octobre 2024), ce site Web devra limiter ses publications uniquement à des renseignements sur les urgences et à des préoccupations en matière de sécurité publique.
Pour des renseignements sur l’immigration, visitez Immigrer et déménager en Saskatchewan.
Trouver des réponses en consultant la Foire aux questions (en anglais).

Google Translate Disclaimer

A number of pages on the Government of Saskatchewan's website have been professionally translated in French. These translations are identified by a yellow box in the right or left rail that resembles the link below. The home page for French-language content on this site can be found at:

Renseignements en Français

Where an official translation is not available, Google™ Translate can be used. Google™ Translate is a free online language translation service that can translate text and web pages into different languages. Translations are made available to increase access to Government of Saskatchewan content for populations whose first language is not English.

Software-based translations do not approach the fluency of a native speaker or possess the skill of a professional translator. The translation should not be considered exact, and may include incorrect or offensive language. The Government of Saskatchewan does not warrant the accuracy, reliability or timeliness of any information translated by this system. Some files or items cannot be translated, including graphs, photos and other file formats such as portable document formats (PDFs).

Any person or entities that rely on information obtained from the system does so at his or her own risk. Government of Saskatchewan is not responsible for any damage or issues that may possibly result from using translated website content. If you have any questions about Google™ Translate, please visit: Google™ Translate FAQs.

Saskatchewan Mineral Exploration Tax Credit

Please submit any applications or inquiries via email to metc@gov.sk.ca. Receipt of mail-in applications may be delayed.

Saskatchewan residents can invest in mineral exploration activities within the province by purchasing eligible flow-through shares issued by approved mineral exploration companies under the Saskatchewan Mineral Exploration Tax Credit (SMETC) program. The tax credit is 45 per cent to 60 per cent (30 per cent provincial and 15 per cent to 30 per cent federal).

Flow-through shares allow mineral exploration companies to renounce or "flow through" tax expenses associated with their Saskatchewan exploration activities to investors, who can deduct the expenses in calculating their own taxable income.

Top

1. Benefits

The SMETC is intended to encourage long-term, sustainable development of Saskatchewan's mineral resources and to enhance Saskatchewan's competitiveness in mineral exploration.

Individual Investors

Saskatchewan residents are able to make an investment into an approved mineral exploration company, claiming a tax credit in exchange for the exploration expenses renounced by the mineral exploration company.

Partnerships

Financial partnerships purchase a portion of the eligible flow-through shares that an exploration company may issue, and in turn, sells the shares to multiple individual investors who may claim the tax credits.

Exploration Companies

Mineral exploration companies who utilize the SMETC are able to raise capital from investors via flow-through shares and flow-through warrants in order to fund their exploration activities.

This tax credit is intended to encourage long-term, sustainable development of Saskatchewan's mineral resources and to enhance Saskatchewan's competitiveness in mineral exploration.

Top

2. Eligibility

Individual Investors

Individuals, other than trusts, may purchase eligible flow-through shares (in accordance with section 66 of the federal Income Tax Act) from an approved mineral exploration company.

For information on how to purchase eligible flow-through shares, contact a licensed securities dealer/broker.

Partnerships

Investments in partnerships must be broken down to individual investors, and tax credits issued to individuals based on eligible flow-through exploration expenditures within Saskatchewan.

Exploration Companies

Any mineral exploration company wishing to issue flow-through shares or flow-through warrants and take advantage of the tax credit must apply to the Saskatchewan Ministry of Energy and Resources. If the application is approved, the company will receive written permission to raise up to a maximum amount of capital for exploration activities in the province.

Top

3. How to Apply

Initial Application

A mineral exploration company wishing to issue flow-through shares or flow-through warrants and take advantage of the tax credit must submit the following items to the ministry at metc@gov.sk.ca:

Top

4. Mandatory Reporting

A mineral exploration company that has received approval under the above-listed steps, issued flow-through shares and completed a share sale must complete and file the following items at the appropriate time at metc@gov.sk.ca.

Top

5. Further Information

For more information on the program, contact metc@gov.sk.ca.

We need your feedback to improve saskatchewan.ca. Help us improve