New PST Exemptions for Mining Equipment and New Mine Allowance Extended in BC Budget 2020

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Vancouver, B.C. – The Mining Suppliers Association of British Columbia (MSABC) welcomes a new Provincial Sales Tax (PST) exemption for machinery and equipment purchased for pollution control and waste management in addition to an extension of the New Mine Allowance to 2025 in Budget 2020.

Budget 2020 allows mining operations to obtain machinery and equipment used for pollution control and waste management without paying PST, regardless of where the machinery will be used. “Previously, this exemption was subject to location constraints which meant that some pollution control equipment used further away from a mill or pit, for example, was not exempt from PST,” said Mike Abbey, Area Sales Manager for Johnson Controls and Chair of MSABC. “A mining operation can now purchase water treatment equipment to treat water at a location a significant distance away from their primary operations, without being charged PST on that purchase” added Abbey. [...]  READ MORE ➔

BC Budget 2019 Enhances Mining Tax Credits and Supports Lower Electricity Costs for Businesses

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Vancouver, B.C. – The Mining Suppliers Association of British Columbia (MSABC) welcomes the extension of mining and mineral exploration tax credits as well as additional measures to support competitive electricity prices for businesses noted in Budget 2019.

Budget 2019 makes permanent the Mining Flow-Through Share Tax Credit as well as the Mining Exploration Tax Credit, both of which had been previously renewed on annual basis. “These tax credits help companies raise money for a variety of exploration activities in B.C., however there was always uncertainty surrounding their long-term availability,” said Rodger McLean, Chair of MSABC. “By making these tax credits permanent, investors know incentives will be in place for projects that take years to develop.” The New Mine Allowance under the Mineral Tax Act was also extended until the end of 2020. [...]  READ MORE ➔