B.C. Mining Flow-Through Share Income Tax Credit

The B.C. mining flow-through share (B.C. MFTS) tax credit allows individuals who invest in flow-through shares to claim a non-refundable tax credit of 20% of their B.C. flow-through mining expenditures.

B.C. flow-through mining expenditures are specific exploration expenses incurred after July 30, 2001 and renounced by a corporation issuing the flow-through shares.

Budget 2019 removed the expiry date for the B.C. MFTS.

As part of our COVID-19 supports, the B.C. mining flow-through share (B.C. MFTS) tax credit eligibility period is being extended from 24 months to 36 months for 2019 and 2020 flow-through share purchases. This is the eligibility period during which an expenditure must be incurred by the issuer in order to be renounced in favour of flow-through shares.

This extension aligns the eligibility period for the B.C. MFTS tax credit with the temporary federal timelines for flow-through shares

Claiming the Credit

You can claim the credit when you file your T1 Income Tax Return, using the British Columbia Mining Flow-Through Share Tax Credit form (T1231). Enter the amount of the credit you’re claiming on the British Columbia Tax form (BC428).

The tax credit is non-refundable. Any unused credit at the end of a tax year may be carried back 3 years or forward 10 years.


The following legislation applies to the B.C. MFTS tax credit: