(Ontario) Focused Flow-Through Share Tax Credit (OFFTS)

The OFFTS tax credit aims to stimulate mineral exploration in Ontario and to improve access to capital for small mining exploration companies. Under the regulation, eligible individual shareholders may receive a refundable tax credit of 5% of eligible Ontario exploration expenses, complementing the federal government’s 100% bonus deduction and 15% investment tax credit. Since 2011, 60% of mines that opened in Ontario were explored by junior exploration companies using OFFTS, leading to $4.3 billion in mine construction capital costs.

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