Make Ontario Competitive – Saving the Mining Sector and Northern Communities

Ontario should offer the highest METC of any province to attract mineral exploration to the province which will result in discoveries of economic mineral deposits, new mines and many new jobs in Northern Ontario.

I have been working in the province for many years and this would rejuvenate our industry..

This tax credit plays a critical role in helping risk-tolerant capital finance one of the most challenging activities in the economy - the search for mineral deposits that are economically viable to develop into mines. Given the importance of minerals and metals for modern quality of life, and for the transition to a low carbon economy, it is critical to help offset the high risks associated with mineral exploration through tax credits like this, to level the playing field with lower risk parts of the economy that can more easily attract capital.

Agreed, Increase Ontario METC to 25% to create Exploration jobs, support businesses, families and communities

This is a must incentive for all in the mining business and supportive sectors.

6 years ago Featured

Ontario should seriously consider increasing the METC to 25% to match BC and Quebec's current provincial tax credits which will result in the creation of thousands of tax paying jobs in northern Ontario.

I support the proposed legislation.

keep Ontario competitive!

As a gov't open for business the hope is that it adopts this approach proven by Quebec and BC over many years in incenting immediate private investment in northern Ontario. Studies by NRCAN and others including Deloitte have shown that tax deductions taken by urban HNW investors are fully offset by tax collected in the north. CRA is really good at enforcing a tax regime which ensures that a flow-through deduction is only available to the investor if the exploration company spends the FT funds on specific categories. Most all the funds raised in FT financings are spent on labour. A deduction in Toronto is a tax inclusion in Timmins. The downside risk to this government of a 1-year pilot program is a rounding error in its budget. Tracking cost and benefit is direct, easy and in real time due to tax reporting required by CRA and market transparency. It's time for evidence based tax policy. It's time to support Northern Ontario and the mining sector which anchors so much of its economy.

This is such an important initiative for the mining sector and job creation

Keep us competitive

This should be a nation program, one province at a time …..ed.life

The Federal Mining Exploration Tax credit is vital to Canadians. Canada should maximize of this opportunity

Increase the tax credits to 30%, create jobs

Long overdue that Ontario position itself more competitively with other provinces.

The exploration tax credits are essential in helping resource companies take the necessary risks to expand our economy. Please continue providing such credits.

Great idea. It has done wonders for Quebec resource sector.

Our Resource sector needs this support. Our Charity's need our support now more then ever.

Coming from BC I have seen significant value with flow through tax credit. Why would Ontario hold itself back?

Mining is fundamental to the entire country! We need more approaches like this, rather than direct government hand-outs.