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July 31, 2020

Canada's Department of Finance announces extension to incur flow-through qualifying expenditures

The Department of Finance announced on July 10, proposals to the flow-through share rules in order to alleviate the challenges faced by exploration companies in the mining industry amid the COVID-19 pandemic. The proposals aim to extend the timeline for resource corporations to incur eligible expenses by 12 months.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert