Mineral Tax Exemptions for Placer Gold Mines
You may not need to file or pay mineral tax if you’re eligible for a tax exemption. There are two exemptions:
However, you can’t use exemptions from one mine to reduce the tax owing on other mines.
You’re exempt from placer gold mine mineral tax if you’re an individual and both:
- The fair-market value of the placer minerals produced from the entire mine is less than $50,000 in the calendar year
- The total value of placer minerals sold or disposed of from the entire mine is less than $50,000 in the calendar year
Under the Nisga’a Nation Taxation Agreement a mine operating on or under Nisga’a Lands is exempt from provincial Mineral Tax.