Flow-through share financing for mineral exploration is part of a broad review on tax policy being undertaken by the Department of Finance, Federal Finance Minister Michael Wilson has confirmed.
The future of the popular tax shelter will not be known until the results of the current tax review are received, he said in the House of Commons on Oct 17.
Mr Wilson was responding to a question from William Tupper, Tory MP for Nepean-Carleton. Mr Tupper wanted confirmation that flow-through would be maintained at the federal level.
Last month Quebec Mines Minister Raymond Savoie told The Northern Miner, in an exclusive interview, that flow- through may be scrapped at the federal level next spring. He added that the Quebec government would eventually follow suit.
The Quebec Prospectors Association is now involved in a $96,500 study to examine the effectiveness of the flow-through share mechanism. Results are expected sometime this month.
Be the first to comment on "Flow-through under review, Wilson says"