T1221: Ontario Focused Flow-Through Share Resource Expenses (Individuals)

As a resident of Ontario, if you purchased flow-through shares from a mining exploration company, you might be eligible to claim the Ontario focused flow-through share tax credit by completing form T1221.

To qualify for the tax credit, you must meet the following conditions:

  • You lived in Ontario on December 31, 2024
  • You purchased eligible flow-through shares after October 17, 2000
  • You invested in a corporation that is permanently established in Ontario

The tax credit meant to help reduce your provincial income tax payable. However, if you’re eligible for more than your tax payable, the rest might be paid to you as a refund once your return has been assessed. Keep in mind, any credit you claim reduces the balance of your Cumulative Canadian Exploration Expense (CCEE) pool for next year. If the pool balance is negative after this deduction, you need to report the negative amount as income on your return.

Note: To complete the T1221 page in H&R Block's tax software, you’ll need to use the information from your T101: Statement of resource expenses or T5013: Statement of partnership income slip.

Follow these steps in H&R Block’s 2024 tax software:

Before you begin, make sure you told us that you lived in Ontario on December 31, 2024.

  1. On the left navigation menu, under the Credits & deductions tab, click Tax Topics.

  2. Select the Pension contributions & expense checkbox.

  3. At the bottom of the page, click Add selected topics to my return.

  1. Under the RESOURCE INCOME AND CREDITS heading, select the checkbox labelled Ontario focused flow-through share resource expenses for individuals (T1221), then click Continue.

  2. When you arrive at the Ontario focused flow-through share resource expenses for individuals page, enter your information into the tax software.