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Federal budget extends 15% METC for another year

Canada’s federal government has extended the 15% Mineral Exploration Tax Credit (METC) till March 2017, turning a deaf ear to lobby groups calling for increased benefits that could help resuscitate the struggling domestic exploration industry and enhance the capital flow to these important firms.
The METC helped junior mineral exploration companies raise capital by providing an incentive to individual investors in flow-through shares issued to finance ‘grassroots’ mineral exploration. This credit was in addition to the deduction provided to the investor for the exploration expenses ‘flowed through’ from the company that issued the shares.