Saskatchewan Mineral Exploration Tax Credit

This grant provides tax credit incentives for investing in approved mineral exploration activities in Saskatchewan, offering a substantial tax reduction for participants. The tax credit is designed to enhance Saskatchewan's attractiveness for mineral investment through financial incentives.

• Tax credit ranges from 45% to 60%, consisting of a 30% provincial credit and a 15% to 30% federal credit.
• Investors can deduct exploration expenses renounced by exploration companies from their taxable income.
• Eligible flow-through shares must be purchased from approved mineral exploration companies.

Eligibility for this grant requires compliance with specific conditions set by the Saskatchewan Ministry of Energy and Resources.

• Any mineral exploration company wishing to issue flow-through shares or flow-through warrants must apply to the Saskatchewan Ministry of Energy and Resources.
• The company must receive written permission from the Ministry to raise capital for exploration activities in Saskatchewan.

Who is eligible?

Eligible expenses

The Saskatchewan Mineral Exploration Tax Credit (SMETC) program is designed to incentivize exploration activities for the sustainable development of the province's mineral resources. Projects involve financial activities related to mineral exploration investments and issuance of flow-through shares by approved companies.

• Issuance of flow-through shares by mineral exploration companies to raise capital.
• Renunciation of tax expenses related to exploration activities by mineral companies to investors.
• Investment in eligible mineral exploration companies through flow-through shares by individual investors or partnerships.

Eligible geographic areas

Saskatchewan Mineral Exploration Tax Credit is aimed specifically at supporting mineral exploration within the province of Saskatchewan. The eligible geographical area is therefore confined to this province.

• Companies engaged in mineral exploration activities within Saskatchewan.

The SMETC program provides an attractive tax credit for Saskatchewan residents who invest in mineral exploration within the province, encouraging long-term sustainable development of its mineral resources. Investors can benefit from substantial tax deductions while supporting local exploration activities conducted by approved companies.

• Contact: Aaron Saufert, Director, Mineral Programs and Development
• Email for applications/inquiries: metc@gov.sk.ca
• Phone: 306-787-3377