T1231 - BC mining flow-through share tax
credit
To claim the British Columbia mining flow-through share tax
credit, select Interview setup from the "Left
side menu of the Interview tab ", and choose the
"Interest, investment income" group. From the
"Investment income and
expenses" Group, check the box
"Income from partnerships, tax shelters (T5013, T101, T5003,
T1CP)" and click on "Next".
Go back to "Interview" and select the
section "Partnerships, tax
shelters". Select "T101 - Statement of
resource expenses".
You may claim this credit if you invested in flow-through shares
and BC flow-through mining expenditures (BC qualifying expenses)
have been renounced to you. Your BC qualifying expenses are shown
in box 141 on the Information Slip
T101 (Statement of Resource Expenses) that you
received from a mining exploration corporation,
or
in box 197 of Information Slip
T5013 (Statement of Partnership Income) that you
received as a member of a partnership.
The program will report the tax credit calculated on line 9 of
Form "T1231 - British Columbia Mining Flow-Through Share
Tax Credit" on line 68810 of Form BC428.
For further information please consult:
https://www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/credits/mining-flow-through
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/provincial-territorial-corporation-tax/british-columbia-provincial-corporation-tax/british-columbia-mining-exploration-tax-credit.html
ID: 20211116111152DE.xml
Webpage: KPA380-20211116111152DE.htm
