Open
Source verified July 5, 2026
British Columbia mining exploration tax credit
Refundable tax support for mining exploration
Funding available
Up to 20% of project cost
Deadline
Open continuously
Location
British Columbia, Canada
Overview
A refundable British Columbia tax credit for qualified mining exploration in the province. It supports prospecting, surveys, drilling, trenching, test pits, sampling, and related environmental or community consultation work.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- No objectives are currently available
Eligible Funding
- Up to 20% of project cost
Eligible candidates
Eligible Industries
- All industries
Location
- British Columbia
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Canadians
- Startups
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Grassroots mineral exploration in British Columbia.
- Exploration to determine the existence, location, extent, or quality of a mineral resource.
Documents Needed
- Schedule 421, British Columbia Mining Exploration Tax Credit
- T2 Corporation Income Tax Return
- Form T1249, if claiming a partnership share
Official resources
Program guide
Application form
Eligibility
Who is eligible?
- Eligible corporations.
- Corporations that are active members of partnerships conducting grassroots mineral exploration in B.C.
Who is not eligible
- Limited partners.
Eligible expenses
- Prospecting, geological surveys, drilling, trenching, test pits, and preliminary sampling.
- Environmental studies and community consultations to obtain a right, licence, or privilege.
- Eligible exploration costs in mountain pine beetle affected areas.
Ineligible Costs and Activities
- Drilling expenses for oil and gas.
- Mining exploration expenses for oil and gas incurred after February 22, 2024.
- Expenses for determining the economic viability or engineering feasibility of the mineral resource effective November 4, 2025, subject to the approval of the Legislature.
Eligible geographic areas
- British Columbia
- Prescribed Mountain Pine Beetle affected areas
How to apply
- Complete Schedule 421, British Columbia Mining Exploration Tax Credit, and submit it with your T2 Corporation Income Tax Return.
- Enter the amount of the credit you’re claiming on line 673 of Schedule 5, Tax Calculation Supplementary – Corporations.
- File Form T1249 if you are an active member of a partnership claiming your proportionate share.
Processing and Agreement
- Review your claim with Schedule 421 and attach it to the T2 return.
- Claim partnership amounts using Form T1249 when applicable.
- Submit the claim within 18 months after the end of the tax year.
- The credit is then applied against tax payable and, if applicable, refunded.
Additional information
- The credit is fully refundable, but must first be applied against tax payable.
- There are no carry-back or carry-forward provisions.
- Claim it using Schedule 421 with the T2 Corporation Income Tax Return.
- Partnership members must also file Form T1249 to claim their share.
Contacts
Frequently Asked Questions about the British Columbia mining exploration tax credit Program
What is the British Columbia mining exploration tax credit?
A refundable British Columbia tax credit for qualified mining exploration in the province. It supports prospecting, surveys, drilling, trenching, test pits, sampling, and related environmental or community consultation work.
How much funding can be received?
British Columbia mining exploration tax credit Funds up to 20% of admissible expenses.
Who is eligible for the British Columbia mining exploration tax credit program?
To be eligible for the British Columbia mining exploration tax credit program, you must:
Corporation with a BC permanent establishment.
Qualified mining exploration expenses in the tax year.
Active partnership members only.
What expenses are eligible under British Columbia mining exploration tax credit?
Grassroots mineral exploration in British Columbia.
Exploration to determine the existence, location, extent, or quality of a mineral resource.
Who can I contact for more information about the British Columbia mining exploration tax credit?
You can contact BC Ministry of Finance by email at ITBTaxQuestions@gov.bc.ca or by phone at 1-250-387-3332.
Where is the British Columbia mining exploration tax credit available?
The British Columbia mining exploration tax credit program is available the province of British Columbia.
Is the British Columbia mining exploration tax credit a grant, loan, or tax credit?
British Columbia mining exploration tax credit is a Tax Credits