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