“Today’s announcement of our latest measures in support of the mining industry is welcome news for Canadian jobs and economic prosperity. Our government’s low-tax approach supports Canada’s competitiveness and protects Canadian jobs, including in Northern Ontario. We are extending the Mineral Exploration Tax Credit to provide junior mining companies access to the venture capital they need to finance their exploration activities.”
– Honourable Greg Rickford, Canada’s Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario
- Since 2006, the Mineral Exploration Tax Credit has helped junior mining companies raise over $5.5 billion for exploration.
- In 2013, more than 250 companies issued flow-through shares eligible for the Mineral Exploration Tax Credit to more than 19,000 individual investors.
- According to KPMG, total business tax costs in Canada are now the lowest in the Group of Seven (G-7)—46% lower than in the United States.
- Bloomberg ranks Canada the second most attractive place in the world to do business.
- Canada is one of a handful of countries in the world with a triple-A credit rating and a stable rating from all the major credit rating agencies.