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, government is proposing to extend the period to incur expenses for the B.C. MFTS tax credit from 24 months to 36 months:

  • When using the general rule, the 12-month extension to the period to incur expenses applies to share agreements entered on or after March 1, 2018 and before 2021

  • When using the look-back rule, the 12-month extension applies to share agreements entered in 2019 or 2020

The extension of the spending timelines for the B.C. MFTS tax credit aligns with the proposed temporary federal timelines extension to incur expenses 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: