Tax CreditBritish ColumbiaExpand a Business
New Mine Allowance
The new mine allowance encourages the development of new mines and eligible expansion projects. You can claim this allowance if:
The new mine allowance is calculated as 1/3 of your eligible capital expenditures from the development of the new mine or expansion project.
Offered by Ministry of Finance
Amount
1/3 of your eligible capital expenditures from the development of the new mine or expansion project
Quick eligibility check
Years in business
No minimum stated
Employees
No limit stated
Revenue
No limit stated
Legal structure
No requirement stated
Location
British Columbia
Who can apply
- Your new mine begins producing minerals between January 1, 1995 and December 31, 2030
- You expand the capacity of the mill that processes the ore from your mine by at least 25% in the fiscal year after the expansion compared to the fiscal year before the expansion
- The expansion project is completed between January 1, 1995 and December 31, 2030
- For expansion projects, the new mine allowance can be claimed the year after the expansion is complete, if all criteria are met
About the funding
The new mine allowance is calculated as 1/3 of your eligible capital expenditures from the development of the new mine or expansion project.
