Government of Saskatchewan ministries, Crown corporations and organizations are implementing contingency plans to minimize the impacts of postal service disruption.
Les ministères, sociétés d’État et organismes du gouvernement de la Saskatchewan mettent en œuvre des plans d’urgence visant à réduire les répercussions de l’interruption du service des postes.
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Saskatchewan residents can invest in mineral exploration activities within the province by purchasing eligible flow-through shares issued by approved mineral exploration companies under the Saskatchewan Mineral Exploration Tax Credit (SMETC) program. The tax credit is 45 per cent to 60 per cent (30 per cent provincial and 15 per cent to 30 per cent federal).
Flow-through shares allow mineral exploration companies to renounce or "flow through" tax expenses associated with their Saskatchewan exploration activities to investors, who can deduct the expenses in calculating their own taxable income.
The SMETC is intended to encourage long-term, sustainable development of Saskatchewan's mineral resources and to enhance Saskatchewan's competitiveness in mineral exploration.
Saskatchewan residents are able to make an investment into an approved mineral exploration company, claiming a tax credit in exchange for the exploration expenses renounced by the mineral exploration company.
Financial partnerships purchase a portion of the eligible flow-through shares that an exploration company may issue, and in turn, sells the shares to multiple individual investors who may claim the tax credits.
Mineral exploration companies who utilize the SMETC are able to raise capital from investors via flow-through shares and flow-through warrants in order to fund their exploration activities.
This tax credit is intended to encourage long-term, sustainable development of Saskatchewan's mineral resources and to enhance Saskatchewan's competitiveness in mineral exploration.
Individuals, other than trusts, may purchase eligible flow-through shares (in accordance with section 66 of the federal Income Tax Act) from an approved mineral exploration company.
For information on how to purchase eligible flow-through shares, contact a licensed securities dealer/broker.
Investments in partnerships must be broken down to individual investors, and tax credits issued to individuals based on eligible flow-through exploration expenditures within Saskatchewan.
Any mineral exploration company wishing to issue flow-through shares or flow-through warrants and take advantage of the tax credit must apply to the Saskatchewan Ministry of Energy and Resources. If the application is approved, the company will receive written permission to raise up to a maximum amount of capital for exploration activities in the province.
A mineral exploration company wishing to issue flow-through shares or flow-through warrants and take advantage of the tax credit must submit the following items to the ministry at metc@gov.sk.ca:
A mineral exploration company that has received approval under the above-listed steps, issued flow-through shares and completed a share sale must complete and file the following items at the appropriate time at metc@gov.sk.ca.
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