Lines 79 to 81 - Saskatchewan mineral exploration tax credit
You can claim this credit if you purchased flow-through shares from a mining exploration corporation in 2022. The company's eligible exploration expense must have been incurred in Saskatchewan.
The credit is 10% of the eligible expenses, and will be used to reduce your Saskatchewan tax in the year it is claimed. Any unused amounts can be carried forward for 10 years or carried back for three years.
How to claim this credit
To calculate your Saskatchewan mineral exploration tax credit at line 79 of your Form SK428, add together the amounts from boxes 143 and 153 of your T101 slips and from box 198 of your T5013 slips that you received for 2022. Then, calculate the 10% credit that you can claim.
If your 2021 notice of assessment or reassessment shows an unused mineral exploration tax credit, enter this amount on line 80 of your Form SK428.
Unused mineral exploration tax credit
If you do not use all of your tax credit for this year and you want to carry back the unused amount to previous years, complete lines 85 to 90 of your Form SK428 to calculate the available amount.
Enter, on line 88 of your Form SK428, any part of this amount that you want to carry back to reduce your 2021 Saskatchewan tax. Enter on line 89 any amount you want to carry back to 2020 and on line 90 any amount you want to carry back to 2019.
Any unused amount not carried back to a previous year on line 88, 89, or 90 will be shown on your 2022 notice of assessment or reassessment.
Supporting documents
If you are filing a paper return, attach your T101 and T5013 slips.
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