Open
British Columbia mining exploration tax credit
Refundable tax support for mining exploration
Last Update: April 9, 2026
Funding available
Up to 20% of project cost
Timeline
- 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.
/100
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
Timeline
- Open continuously
Eligible candidates
Eligible Industries
- Mining, quarrying, and oil and gas extraction
Location
- British Columbia
Legal structures
- For-profit business
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Indigenous Peoples
- Rural or Northern Residents
- Canadians
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
Eligibility
Who is eligible?
- Corporations in British Columbia.
- Corporations that are active members of partnerships carrying out grassroots mineral exploration in B.C.
Who is not eligible
- Limited partners.
- Corporations exempt from tax under British Columbia tax rules or federal Part I tax rules.
- Certain venture capital and employee share ownership corporations.
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
- Oil and gas drilling and mining exploration expenses for oil and gas incurred after February 22, 2024.
- Expenses to determine economic viability or engineering feasibility.
- Costs related to a mine already in production in reasonable commercial quantities.
Eligible geographic areas
- British Columbia
- Prescribed mountain pine beetle affected areas in British Columbia
How to apply
- Step 1: Complete Schedule 421
- Fill out the corporate tax credit schedule for the year.
- Enter the qualifying exploration expenses and related assistance.
- Step 2: Attach partnership schedule if needed
- Complete Form T1249 if the claim includes a partnership share.
- Use the partnership schedule to calculate your proportionate share.
- Step 3: File with the T2 return
- Attach Schedule 421 to the T2 Corporation Income Tax Return.
- Enter the credit on line 673 of Schedule 5.
- Step 4: Submit within the deadline
- File the claim no later than 18 months after the end of the tax year.
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