Saskatchewan Mineral Exploration Tax Credit
As a resident of Saskatchewan, if you purchased flow-through shares from an approved mining or exploration company whose exploration expenses are in Saskatchewan, you might be able to claim the Saskatchewan mineral exploration tax credit.
The corporations you’ve purchased shares from will issue you an SK-METC (Mineral Exploration Tax Credit Certificate) to let you know what you can claim.
If, in a given year, you don’t need to use all of your credit amount, any unused credit can be carried forward up to 10 years or back 3 years. Refer to your latest notice of assessment (NOA) or reassessment for your unused credit amounts.
Remember to keep all your documents in case the Canada Revenue Agency (CRA) asks to see them later.
Where do I claim this?
Follow these steps in H&R Block’s 2024 tax software:
Before you begin, make sure you told us that you lived in Saskatchewan on December 31, 2024.
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On the left navigation menu, under the Credits & deductions tab, click Tax Topics.
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Select the Investment income & expenses checkbox.
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At the bottom of the page, click Add selected topics to my return.
- Under the RESOURCE INCOME AND CREDITS heading, click the checkbox labeled Saskatchewan mineral exploration tax credit, then click Continue.
- When you arrive at the Saskatchewan mineral exploration tax credit page, enter your information into the tax software.
