Instructions for Mineral Tax Return

You file a Mineral Tax Return for each mine you operate.

  1. Complete your tax return
  2. Submit your tax return

Complete Your Tax Return

For help completing your tax return, review the information you need to provide in the following sections:

Business Information

You must provide your business information if you’re filing a paper return.

Full Name of Operator

Enter the operator’s legal name. If you’re an Individual, this is your first name, middle initial and last name.

Mine Name

Enter the mine name shown on your permit.

Mailing Address of Operator

Enter your street number and name or PO box, city, province and postal code. If this address is different than the address we currently have on file for you, check the box to the right of your mailing address.

Business number

Enter the nine-digit Business Number (BN) that identifies your business (e.g. the first nine digits of your HST/GST number).

Account number

Enter the account number (e.g. MTR-XXXX-XXXX) shown on the top right corner of all correspondence we send to you.

Mine number

Enter the seven-digit number assigned by the Ministry of Energy and Mines. You'll find this number on your mine permit.

Contact Information

If your contact information hasn’t changed since your last return, leave it blank.

Otherwise, enter the contact information for the person we can contact if we need more information about your return. It doesn’t have to be the operator or the person who certifies the return.

Return Information

Fiscal Year of the Mine

Enter the fiscal year of the mine. Generally, this is the period that makes up the accounts of the mine. If you haven’t chosen a period, the fiscal year will be the calendar year.

In most cases, the fiscal year of a mine is a 12 month period.  However, if there was a change of ownership throughout the year, the fiscal year of the mine may be shorter.

If the fiscal year of the mine is different from the fiscal year of the operator, complete the return for the fiscal year of the mine.

If you’re using eTaxBC and the fiscal year of the mine has changed since your last return, contact us so we can create a new return for you with the correct filing period.

Line 1 - Proportionate Share of the Mine:

Enter the share of mineral product, benefit, cost or tax-related quantity you’re entitled to, or responsible for, under the terms of your agreement with other operators of this mine.

If you’re the only owner, enter 100.

If you’re using eTaxBC and your proportionate share in the mine has changed since your last return, contact us so we can create a new return for you with the correct filing period.

Line 2 - Total Amount Remitted

Enter the total amount of taxes you’re remitting with this return.

Required Supporting Documents

You must include the following supporting documents with your Mineral Tax Return:

  • if the operator is a corporation, a copy of the federal T2 Corporation Income Tax Return, with copies of supporting schedules
  • a copy of your financial statements
  • a copy of your net earnings statement for the mine

Check the box next to each supporting document you’ve included with your return. If you’re filing your return using eTaxBC, you can attach these documents electronically on Step 6 of your return.

Certification

The signature of the individual operator, or if the operator is a corporation, an authorized signing officer of the corporation.

Calculation of Amount Payable

Line 3 - Total Taxes Payable

Enter the amount from line 24.

Line 4 - Reclamation Tax Credit

Enter the amount from line 42.

Line 5 - Monthly instalments paid for the fiscal year

Enter the total amount of instalment payments made for the fiscal year. Don’t include balances transferred from previous years.

Line 6 - Overpayment applied from prior year

If you made an overpayment in the previous fiscal year, and you requested that the overpayment be applied to the subsequent year, enter the amount of your overpayment.

Line 7 - Balance of Taxes Payable/(Overpaid)

Enter the amount of line 3 minus lines 4 to 6.

If you have a balance payable, submit this amount with your return. Interest will apply if your instalments were late or underpaid.

Do You Want Overpayment Refunded or Credited

If the total amount of mineral tax you paid by instalment results in an overpayment, indicate if you want the amount refunded or applied to a future tax liability.

We don't refund amounts less than $10.00.

Net Current Proceeds Tax Calculation

Line 12 - Net current proceeds

Enter the amount from line 43.

Line 14 - Net current proceeds tax payable

Enter the amount of line 12 multiplied by line 13.

Net Revenue Tax Calculation

Line 15 - Net Revenue

Enter the amount from line 113.

Line 17 - Net Revenue Tax

Enter line 15 multiplied by line 16.

Line 18 - Deduct the lessor of Subtotal B and Net Revenue Tax

Enter the lessor of the subtotal from line 28 and your Net Revenue from line 17.

Line 19 - Net Revenue Tax Payable

Enter the amount of line 17 minus line 18.

Total Taxes Payable Calculation

Line 20 - Net Current Proceeds Tax Payable

Enter the amount from line 14.

Line 21 - Net Revenue Tax Payable

Enter the amount from line 19.

Line 22 - Subtotal A

Enter the sum of lines 20 and 21. This is your total taxes payable before deducting the Earned Depletion Tax Credit.

Line 23 - Deduct Earned Depletion Tax Credit

Enter the lessor of 25% of line 22 or the balance in the Earned Depletion Base Account at the end of the preceding year (line 31).

Line 24 - Total Taxes Payable

Enter the amount of line 22 minus line 23.

Cumulative Tax Credit Account

Line 25 - Balance at the end of the preceding fiscal year

Enter the amount from line 30 of your preceding year's Mineral Tax Return. If this is the first Mineral Tax Return filed, enter 0.

If your interest in the mine was purchased from another operator and a Joint Election of Disposition Proceeds was filed, a balance may have been transferred from the previous operator. If this is the case, attach a copy of the Joint Election of Disposition Proceeds (PDF). If you’re using eTaxBC, you can attach this electronically on Step 6 of the return.

Line 26 - Imputed Interest

Enter the amount of line 25 multiplied by your Investment Allowance rate (line 134).

Line 27 - Net Current Proceeds Tax Paid

Enter the amount from line 14 if it has been paid.

Line 28 – Subtotal B

Enter the sum of lines 25, 26 and 27.

Line 29 - Deduct the lessor of Net Revenue Tax and Subtotal B

Enter the lessor of line 17 and line 28.

Line 30 - Ending Balance

Enter the amount of line 28 minus line 29.

Earned Depletion Base Account

Line 31 - Balance at the end of the preceding fiscal year

Enter the amount from line 33 on the previous year's Mineral Tax Return.

If your interest in the mine was purchased from another operator and a Joint Election of Disposition Proceeds was filed, an Earned Depletion Base balance may have been transferred from the previous operator. If this is the case, attach a copy of the Joint Election of Disposition Proceeds (PDF). If you’re using eTaxBC, you can attach this electronically on Step 6 of the return.

Line 32 - Deduct amount claimed as a tax credit in the current fiscal year

Enter the amount from line 23.

Line 33 - Ending Balance

Enter the amount of line 31 minus line 32.

Net Current Proceeds Calculation

Line 43 - Net Current Proceeds

Enter the amount of line 52 minus line 64. If Total Current Operating Costs exceeds Gross Revenue, this line will be zero.

Gross Revenue Calculation

Line 44 - Value of Mineral Product Sold

Enter the revenue received for the sale of mineral products, unless:

  • the price is subject to some other consideration that has an undetermined value
  • the buyer and seller aren’t dealing with each other at arm`s length and the price is lower than it would have been if they were

In both cases, the value of mineral product sold should be the same price as mineral products bought and sold between parties who are dealing at arm’s length.

We may designate a point of disposition of a mineral product prior to its actual disposition by the operator. In this case, the value of the mineral product is its fair market value at the designated point. If this can't be determined, the value will be a deduced value.

The deduced value is the actual sales value of the mineral product sold less:

  • the direct non-capital operating costs you incur beyond the designated point of disposition, and
  • an allowance for costs of, and a return on, capital assets used in processing and distributing the mineral product beyond the designated point.

Line 48 - Other current operating cost recoveries

Enter the cost of training subsidies, scrap sales or similar recoveries.

Line 49 - Reclamation recovery

Enter the amount from line 149.

Line 49a - Other

Enter the sum of any other revenues or cost recoveries resulting from the operation of the mine.

You must provide a Schedule of Details (PDF) for any amounts entered on this line. You can provide the details online if you file your return in eTaxBC, otherwise you must attach the details to your paper return.

Line 51 - Exemption for Individuals

Enter the amount of line 1 multiplied by 50,000.

Line 52 - Gross Revenue

Enter the sum of line 44 to line 49a, minus line 51.

Current Operating Costs Calculation

In this section use your own classifications of costs unless we’ve provided guidelines.

Line 55 - Post production development costs

Enter costs incurred at the mine property after the mine has come into commercial production. Include costs for:

  • clearing land
  • removing overburden
  • sinking a shaft
  • constructing an adit

Post-production development costs should be included in the operating costs for the fiscal year in which they incurred.

Line 59 - Non-capital reclamation cost transfer

Enter the amount from line 144.

Line 60 - Minesite general and administrative

Enter only general and administrative costs you incur at the minesite. Costs you incur at a head office or other location are entered on line 63.

Line 62 – Change in cost of mineral product inventory

Record your Opening Inventory and your Ending Inventory, then enter the difference.

Line 63 - Head office administrative costs

Enter costs you incurred at a head office or other location not located at the minesite. You can only deduct costs directly related to the operation of this mine.

Line 63a – Other

Enter the sum of other current operating costs you'd like to report.

You must provide a Schedule of Details (PDF) for any amounts entered on this line. You can provide the details online if you file your return in eTaxBC, otherwise you must attach the schedule to your paper return.

Line 64 - Total Current Operating Costs

Enter the sum of line 53 to line 63a.

Reconciliation with Net Earnings

Use this section to record adjustments that may be required to derive your Net Current Proceeds (NCP) from the Net Earnings of the mine in your financial statements. This section has two parts:

  1. Additions
  2. Deductions

Line 65 – Net earnings/loss per financial statement

Enter the net earnings/loss from the mine’s financial statements. If this amount is a loss, enter the amount in brackets.

Additions

Add back expenditures that are in net earnings/loss from the mine’s financial statements, but aren’t allowed as deductions from Gross Revenue in calculating your NCP, including: 

Line 66 - Income tax expense

Enter the income tax expense included in your net earnings/loss.

Line 67 - Lease/rental expense

Enter the lease and rental expenses.

Costs for the use of or right to use capital assets are prescribed to be on account of capital. You may add these payments to the Cumulative Expenditure Account (CEA) on line 120.

Line 68 - Reclamation expense added to the Reclamation Cost Account

Enter the amount from line 139a if it was deducted as an expense in your net earnings/loss. You must also complete and attach the Reclamation Cost Election Schedule (PDF). If you’re using eTaxBC, you can complete the schedule on line 139a.

Line 69 - Royalties

Enter the amount of payments made for the right to win minerals from a mine, other than to the Crown in right of the Province.

Line 70 - Business interruption insurance premiums

Enter the amount of any premiums paid for business interruption insurance.

Business interruption insurance policies are intended to compensate a business for loss of income during a period of disruption in its activities when it can't earn income by selling its products. If you receive a benefit from a business interruption claim, the proceeds wouldn’t be included in the revenue of the mine because it wouldn’t be from the disposition of the mineral products of the mine.

Line 71 - Expense provisions credited to reserves

Enter the amount of any expense provisions included in your net earnings/loss (line 65).

The only exception relates to employee remuneration. If reasonable, any provisions for future payments of legal obligations such as vacation pay, bonuses, and pensions are allowable and don’t need to be included in this amount.

Line 72 - Net realizable value of opening inventory less cost

Enter the net realizable value of opening finished product inventory to Net Earnings, and deduct its cost.

The value of a mineral product is determined when it is disposed of. This generally occurs when it is sold.

Line 73 - Unrelated overhead

Only overhead costs directly related to the operation of this mine can be deducted.  Enter any overhead cost items on your net earnings/loss caused by or attributable to business activities other than the mine.

Line 75 - Cost of purchased product sold

Enter the cost of mineral products purchased for resale.

Line 76 - Unrelated cost of sales

Enter the costs related to any revenue that isn't derived from the sale of minerals produced from the mine. This must include any general and administrative costs incurred at the mine and head office that may be attributable to this revenue.

Line 77 - Costs of financing and arranging financing

Enter the amount of any cost for financing or arranging financing that you included in your net earnings/loss (line 65).

Line 78 - Interest expense

Enter the amount of any interest expense included in your net earnings/loss (line 65).

Line 79 - Provisions for depreciation or depletion

Enter the amount of any provisions for depreciation or depletion included in your net earnings/loss (line 65).

Line 80 - Exploration expense

Enter the amount of any exploration expense included in your net earnings/loss (line 65).

You may be able to add exploration costs to your Cumulative Expense Account (CEA). However, the amounts you're allowed to add to your CEA (line 122) may be different from the amounts you include here.

Line 81 - Costs of incorporation, organization or reorganization

Enter the amount of any cost of incorporation, organization or reorganization included in your net earnings/loss (line 65).

Line 82 - Writedown of asset values

Enter the amount of any writedown of asset values included in your net earnings/loss (line 65).

Line 84 - Other

You must provide a Schedule of Details (PDF) for any amount you enter on this line when you submit your tax return. If you're using eTaxBC, you can click on “complete schedule” to provide the details.

Line 88 – Subtotal

Enter the sum of lines 65 to 84.

Deductions

These are expenditures that may not have been recorded as expenses in your net earnings/loss, but are allowable as deductions from Gross Revenue in calculating your NCP.  It also includes revenues in your net earnings/loss that aren't taxable.

Line 89 - Non-capital reclamation cost transfer

You can no longer add amounts on this line. Current reclamation costs and contributions to a Mine Reclamation Fund are now allowable as current operating costs.

Line 90 - Costs charged to reserves on financial statements

Enter cash costs that were charged to assets or liabilities during this fiscal year.

Line 91 - Net realizable value of closing inventory less cost

Enter the net realizable value of closing finished product inventory to Net Earnings, and add its cost.

Line 92 - Mine revenue from the sale of purchased product

Enter the revenue from the mineral product purchased for resale.

Line 93 - Net gains/losses on disposal of assets

Enter the net gains or losses on disposal of assets.  If this amount is a loss, enter the amount in brackets and add it to net earnings.

Line 94 - Hedging gains/losses

Enter the effect of gains or losses in respect of hedging transactions included in your net earnings/loss. If this amount is a loss, enter the amount in brackets and add it to net earnings.

Hedging transactions (both commodity and currency) are considered to be independent of a mine’s operations, so the effect of gains or losses from hedging transactions are removed from your net earnings/loss.

Line 95 - Unrelated sales revenue

Enter the amount of sales revenue that is unrelated to the sale of minerals produced from the mine, for example, sale of royalty interest. 

You need to determine whether a source of revenue is unrelated to the activity of the mine or if it's a recovery of costs of the mine.  For example:

  • Revenue from the use or disposal of capital assets should be entered on this line as a deduction from Net Earnings. Examples include renting out capital equipment or the sale of timber from cleared land. This type of revenue will reduce the CEA.
  • Revenue from the sale of items whose costs were included in the mine’s current operating costs shouldn’t be entered on this line for deduction from Net Earnings. Examples include revenue from sales of scrap or of process inputs recovered from milling. These would be a recovery of current operating costs of the mine.

When sales revenue is unrelated to the activity of the mine, you must add the cost of sales back to Net Earnings on line 76.

Line 96 – Interest income

Enter any interest income.

Line 97 – Dividend income

Enter any dividend income.

Line 100 - Other

You must provide a Schedule of Details (PDF) for any deductions you enter on this line when you submit your tax return. If you‘re using eTaxBC, you can click on “complete schedule” to provide the details.

Line 104 – Net Mineral Tax Earnings/Loss

Enter the amount from line 88, minus the sum of lines 89 to 100.

This amount should equal Gross Revenue (line 52) less Total Operating Costs (line 64).

Net Revenue Calculation

Line 105 – Gross Revenue

Enter the amount from line 52.

Line 106 - Grants, subsidies and other assistance in respect of capital assets

Enter only amounts relating to capital assets. Amounts relating to current operating costs are entered on line 46.

Line 107 - Insurance proceeds in respect of capital assets

Enter only amounts relating to capital assets. Proceeds relating to current operating costs are entered on line 47.

Line 108 - Revenue in the nature of capital asset cost recovery

Enter any revenue gained from the use of a capital asset whose cost was included in your Cumulative Expenditure Account (CEA). This includes revenue from short-term rentals or contracted services.

Line 109 - Proceeds on disposal of capital assets

Enter the proceeds from the sale of any capital assets. This is usually the total sale price. If your liability to a creditor is reduced as a result of the seizure of an asset, the amount of the reduction would also be proceeds on disposal and entered here.

Line 110 - Deemed disposition proceeds for assets taken out of use at the mine

Enter the deemed proceeds of assets taken out of use at the mine. The amount for each asset must be equal to the fair market value of the asset at the time you discontinued its use at the mine.

If you reduced an asset's use at the mine and used the asset elsewhere, enter an amount equal to the proportion of the fair market value of the asset at the time you reduced its use.

Line 111 – Subtotal C

Enter the sum of lines 105 to 110.

Line 112 – Deduct Cumulative Expenditure claim

Enter the lesser of line 127 and line 111.

Line 113 - Net Revenue

Enter the amount of line 111 minus line 112.

Cumulative Expenditure Account

Line 114 - Balance at the end of the preceding fiscal year

Enter the Cumulative Expenditure Account (CEA) Ending Balance (line 129) from the return filed for the preceding fiscal year.

You may add a balance that has been transferred from another operator on the purchase of an interest in the mine and a Joint Election of Disposition Proceeds (PDF) was filed. Attach a copy of the Joint Election of Disposition Proceeds to your return.

If you’re filing a Mineral Tax Return for the first time, enter any allowable costs incurred in prior years. This would include the cost of preproduction development or capital assets that are directly related to the operation of the mine and were acquired prior to the beginning of the fiscal year for which the return is being filed.

Line 115 - Adjustments

Enter any adjustments made to the CEA balance from the end of the preceding year. Adjustments may be the result of amended returns or audits of previous years.

You must attach an explanation for these adjustments to your return. If you’re using eTaxBC, you can attach it electronically on Step 6 of the return.

Line 116 - Pre-production discovery costs

Enter all pre-production discovery costs directly related to this mine during this fiscal year. Discovery costs are incurred while determining the existence, location, extent or quality of a mineral deposit in B.C. This may include costs for:

  • prospecting
  • geological, geophysical and geochemical surveys
  • drilling
  • trenching
  • digging test pits
  • preliminary sampling

These costs must have been incurred prior to the start of commercial production while you had the right to win minerals from the mine. Costs may only be included if:

  1. they were a reasonable basis for believing that a producing mine might be established, and
  2. the acquisitions of the right to win minerals was a direct result of incurring discovery costs

Don’t include costs that have been included in the costs of any other mine.

Property acquired from a previous operator

If you acquired an interest in this mine from another operator, you may be able to include the proportion of the pre-production discovery costs of the previous operator if:

  • the property wasn’t in commercial production at any time in the seven years preceding the acquisition, and
  • the preproduction discovery costs of the previous operator weren’t used to reduce revenues of any previous operator for the purposes of determining Net Revenue, and would’ve been available for deduction by the previous operator.

Line 117 - Development costs prior to commercial production

Enter costs incurred during the fiscal year of this mine to bring the property into commercial production, such as:

  • drilling
  • clearing
  • removing overburden
  • sinking a shaft
  • constructing an adit

You can only add these costs to the CEA for this mine if they were incurred at this mine.

Line 117a - New mine allowance

Calculate 1/3 of the costs entered on:

  • line 117, and
  • line 120 and line 121 if the assets are acquired for the purpose of production or distribution of mineral products from the mine.

Costs qualify for the new mine allowance if they were incurred:

  • after December 31, 1994,
  • before the mine began producing or the eligible expansion was completed, and
  • in the case of an expansion, in the course of and principally for the purpose of the expansion.

Line 118 –Total Current Operation Costs

Enter the amount from line 64.

Line 119 - Net increase/decrease in inventories

You must add any increase in the cost of inventories during the fiscal year to the CEA. Conversely, you must deduct any reduction in the cost of inventories from the CEA on this line.

Inventories include mineral product resulting from the mine’s operation and supplies and unused parts required for operating the mine.

Line 120 - Payments on leases and rentals

Enter any amounts added back on line 67 if they were paid or payable for this mine during the mine's fiscal year.

Line 121 - Cost of capital assets purchased

Enter only the cost of capital assets purchased that are necessary for the mine's operation.

Line 122 - Exploration cost allocation

Enter the exploration expenses you're allocating to this mine. You must also complete and attach the Election to Allocate Exploration Expenses (PDF). If you’re using eTaxBC, you can complete the election from line 122.

If you’re accumulating exploration expenditures in an Operator’s Exploration Account or you’re allocating exploration costs to one or more of your mines, you must also file an Exploration Account Return for this year.

Line 123 - Research costs

Enter the costs you incurred for scientific research and experimental development relating to your mineral activities. The results of this research must be public property.

Line 124 - Reclamation cost transfer

Enter the amount from line 146.

Line 125 – Subtotal D

Enter the sum of lines 114 to 124.

Line 126 - Investment Allowance

Enter the amount from line 135.

Line 127 -  Subtotal E

Enter the sum of lines 125 and 126.

Line 128 - Deduct amount claimed on line 112

Enter the amount from line 112.

Line 129 - Ending Balance

Enter the amount of line 127 minus line 128.

Investment Allowance Calculation

An annual investment allowance provides a return on capital you invested in the mine.

Line 130 – Cumulative Expenditure Account balance at the end of the preceding fiscal year

Enter the sum of line 114 and line 115.

Line 131 – Add the excess, if any, of Subtotal D over Subtotal C

If line 125 is more than line 111, enter the difference here (line 125 minus line 111).

Line 132 – Total

Enter the sum of line 130 and line 131.

Line 133 – Cumulative Expenditure Account average balance

Enter line 132 divided by 2.

Line 134 – Investment Allowance Rate

Use the Investment Rate Calculator and enter your investment allowance rate.

Line 135 – Investment Allowance

Enter the amount of line 133 multiplied by line 134.

Reclamation Cost Account

The balance in your Reclamation Cost Account (RCA) can be used to claim a Reclamation Tax Credit.

Prior to January 8, 1998, all reclamation costs were added to the reclamation cost account. However, they are now used as current operating costs or added to your Cumulative Expenditure Account (CEA). If your mine has no current income, you may elect to add these costs to your reclamation cost account in order to claim the credit.

Line 136 - Balance of the Reclamation Cost Account at the end of the preceding year

Enter the amount from line 148 of your previous year's Mineral Tax Return. If this is the first Mineral Tax Return filed for this mine, enter 0.

In some cases there may be a balance transferred from another operator on the purchase of an interest in a mine.

Line 137 - Reclamation fund contributions incurred before January 8, 1998

You can no longer add amounts on this line. Current reclamation fund contributions are now allowable as current operating costs.

Line 138 - Non-capital reclamation costs incurred before January 8, 1998

You can no longer add amounts on this line. Current reclamation costs are now allowable as current operating costs.

Line 139 - Costs of assets for reclamation purposes incurred before January 8, 1998

You can no longer add amounts on this line. Capital reclamation costs are now allowed as additions to the Cumulative Expenditure Account.

Line 139a - Amount elected to be added under s. 5(1) of the Reclamation Regulation

Enter costs you want to add to your Reclamation Cost Account. This would usually be done if your mine isn’t taxable in the current year but you paid Net Revenue Tax in prior years and want to claim it back as a Reclamation Tax Credit.

If you add an amount to this line, you must complete a Reclamation Cost Election (PDF) within 6 months from the fiscal year end of the mine. If you file using eTaxBC, you can complete this election by clicking on “complete Schedule” on line 139a.

If you report this amount as an expense in the Net Earnings Statement, you should also enter it on line 68.

Line 141 - Reclamation fund refunds received or receivable

Enter any amounts you were refunded during the fiscal year or you expected to receive from the reclamation fund for work done during the fiscal year.

Line 142 - Reclamation cost recoveries

Enter any amounts recovered from reclamation activities.

Line 143 - Amount used in respect of tax credit claimed in the preceding period

Enter the amount from line 42 of your preceding year’s Return, divided by 0.13.

If this is your first Mineral Tax Return filed, enter 0.

Line 144 - Non-capital reclamation cost transfer to Net Current Proceeds

You can no longer add amounts on this line. Current reclamation costs and contributions to a Mine Reclamation Fund are now allowable as current operating costs.

Line 145 – Subtotal H

Enter the sum of lines 141 to 144.

Line 146 - Reclamation cost transfer to the Cumulative Expenditure Account

Enter any amounts remaining in your Reclamation Cost Account (RCA) from the end of the 1998 fiscal year that you want to transfer to your Cumulative Expenditure Account (CEA).

You must file a Reclamation Cost Transfer Schedule (PDF) to show the details of the amounts being transferred and submit it with your return.

Line 147 – Subtotal I

Enter the sum of line 145 and line 146.

Line 148 - Ending balance

If the subtotal amount on line 140 is more than the subtotal amount on line 147, enter the excess on this line.

Line 149 - Reclamation Recovery

If the subtotal amount on line 147 is more than the subtotal amount on line 140, add the excess amount to revenue on line 49.

Reclamation Tax Credit

This section is a running balance of Net Revenue Tax paid less any reclamation tax credits you've claimed in prior years.

Line 34 – Balance of the account at the end of the preceding fiscal year

Enter the amount from line 37 of your previous year's Mineral Tax Return. If this is the first Mineral Tax Return filed for this mine, enter 0.

You may add a balance that has been transferred from another operator on the purchase of an interest in the mine and a Joint Election of Disposition Proceeds (PDF) was filed. Attach a copy of the Joint Election of Disposition Proceeds to your return.

Line 35 – Deduct reclamation tax credit claim of the preceding fiscal year

Enter the amount from line 42 of your previous year’s Mineral Tax Return.

Line 36 – Add Net Revenue Tax Payable

Enter the amount from line 19.

Line 37 – Ending Balance

Enter the amount of line 34 minus line 35, plus line 36.

Reclamation Tax Credit Claim

If your mine has reclamation costs but no current income to claim them against, you can use this section to claim a tax credit.

Line 38 – Reclamation Cost Account ending balance

Enter the amount from line 148.

Line 40 – Amount of Reclamation Cost Account creditable

Enter the amount of line 38 multiplied by line 39.

Line 41 – Reclamation Tax Credit Account ending balance

Enter the amount from line 37.

Line 42 – Reclamation Tax Credit Claim

You can claim an amount up to the lessor of lines 40 and 41.

Submit Your Tax Return

You can submit your completed and signed tax return, payment and supporting documents: