Instructions for Placer Gold Mine Tax Return

You must file a Placer Gold Mine Tax Return for each placer gold mine you operate, unless you qualify for an exemption.

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

Complete Your Tax Return

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

Part 1 - 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).

If you don’t have a business number leave this field blank and a business number will be assigned to you.

Driver’s Licence/BCID

If you don’t have a business number, enter either your driver’s licence number or your B.C. Identification number.

Mine Number

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

Account number

Enter the account number (e.g. MTP-XXXX-XXXX) shown on the top right corner of all Mineral Tax correspondence sent to you about the mine.

If this is your first time filing a Placer Gold Mine tax return, leave this field blank and a number will be assigned to you.

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.

Part 2 – Return Information

Calendar Year

Enter the calendar year you’re filing for.

Proportionate Share of the Mine

Enter the share of mineral product sold that 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.

Part 3 – Inventory Reconciliation

When you enter inventory totals in this section, report each placer mineral separately. Report gold in ounces and specify what unit of measure you are using for each of the other placer minerals. Attach a schedule if you need more columns.

Line 1 – Inventory at Beginning of Year

Enter the quantity of gold and other placer minerals on hand from the production of the mine at the beginning of the calendar year. If you filed a return for the previous year, this should be equal to the inventory at the end of that year.

Quantities must be rounded to four decimal places.

Line 2 – Placer minerals produced during the year

Enter the quantity of gold and other placer minerals produced from the mine during the calendar year. Quantities must be rounded to four decimal places.

Line 3 – Subtotal

Enter the sum of line 1 and line 2.  Enter separate totals for gold and each of the other placer minerals.

Line 4 – Placer minerals sold during the year

Enter the quantity of gold and other placer minerals sold during the calendar year. Quantities must be rounded to four decimal places.

Line 5 – Inventory at End of Year

Enter line 3 minus the placer minerals sold from line 4. Enter separate totals for gold and each of the other placer minerals.

Part 4 – Calculation of Mineral Tax

When you enter the sales of placer minerals, include the transaction value. The transaction value is determined by the price received by the operator, unless:

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

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

Line 6 – Sales of Placer Gold During the Year

Enter the total sales of placer gold during the calendar year.

Line 7 – Sales of Other Placer Minerals During the Year

Enter the total sales of other placer minerals during the calendar year.

Line 8 – Total Sales

Enter the sum of line 6 and line 7.

Line 10 – Mineral Tax Payable

Enter the amount of line 8 multiplied by line 9.

If you have a balance payable, submit this amount with your return. Interest will apply if this amount isn’t paid by the due date.

Line 11 – Payment Amount Enclosed

Enter the total payment amount you’ve included with this return.

Part 5 – Required Supporting Documents

Attach a copy of the financial statements of the mine for the calendar year. If your fiscal year doesn’t coincide with the calendar year, you must also submit a copy of last fiscal year's financial statements

Part 6 - Certification

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

Submit Your Tax Return

You can submit your completed and signed tax return and payment: