Interest rates for mineral tax

Last updated on February 13, 2024

For overdue balances and credits interest rates are set on a quarterly basis each year.

Overdue balances

If you paid your taxes after the due date, you’ll be charged interest at these rates:

Quarter Year
2024 2023 2022 2021 2020 2019 2018 2017
January 1 – March 31 10.20 9.45 5.45 5.45 6.95 6.95 6.20 5.70
April 1 – June 30   9.70 5.70 5.45 5.95 6.95 6.45 5.70
July 1 – September 30   9.95 6.70 5.45 5.45 6.95 6.45 5.70
October 1 – December 31   10.20 8.45 5.45 5.45 6.95 6.70 6.20

Note: Interest was not charged on any outstanding balances from March 24 to September 20, 2020.

Credits

If you overpaid your taxes by more than $10.00, you’ll earn interest at these rates:

Quarter Year
2024 2023 2022 2021 2020 2019 2018 2017
January 1 – March 31 5.20 4.45 0.45 0.45 1.95 1.95 1.20 0.70
April 1 – June 30   4.70 0.70 0.45 0.95 1.95 1.45 0.70
July 1 – September 30   4.95 1.70 0.45 0.45 1.95 1.45 0.70
October 1 – December 31   5.20 3.45 0.45 0.45 1.95 1.70 1.20
Make a payment

You can pay your tax:

If you can’t pay in full, contact us to request a short-term payment arrangement.

Investment allowance rate calculator

You can claim the investment allowance while you are producing minerals from your mine. To determine your investment allowance rate use the online investment allowance rate calculator.

Contact Information

Victoria Office
250-952-0192
Fax
250 952-0191
Toll Free
1-800-667-1182
Mailing
Mineral, Oil & Gas Revenue Branch
Ministry of Finance
PO BOX 9328 Stn Prov Govt
Victoria B.C. V8W 9N3