File & Pay Placer Gold Mine Taxes
You must file your placer gold mine tax return and pay any mineral tax you owe on or before March 31 following the end of the calendar year. If the due date falls on a weekend or statutory holiday, the due date is the next business day.
Placer Gold Mine Tax Return
Your Placer Gold Mine Tax Return reports the results of your mining operation and the tax you owe. Each operator must file a separate tax return for each mine they operated in the last calendar year.
When you prepare your return, all amounts must be in Canadian dollars and rounded to the nearest dollar.
If you file your tax return after the due date you’ll be charged a penalty of:
- $25 per day, to a maximum of $2500, and
- 5% of the taxes owing
You don’t need to file a return if:
- You’re an individual and the fair-market value of the placer minerals produced from the entire mine is less than $50,000 in the calendar year, and
- The total value of placer minerals sold or disposed of from the entire mine is less than $50,000 in the calendar year
However, you need to file a return if we request one directly and you are still required to pay mineral tax even if you are not required to file a return.
You can amend a tax return up to five years after the end of the year you want to change. To amend a return:
- Complete a new copy of the tax return with the changes you want to make
- Write “Amendment” and the current date clearly at the top of the tax return
- Submit the amended tax return