PwC Federal Budget instant reaction: Mineral Exploration Tax Credit extended
for another year

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

Promoting the exploration and development of Canada's rich mineral resources offers important benefits in terms of employment, investment and infrastructure, especially for rural communities. The continuation of the temporary 15% Mineral Exploration Tax Credit (METC) is intended to help companies raise capital for mining exploration by providing an incentive to individuals who invest in flow-through shares issued to finance exploration.

Budget 2010 proposes to extend the METC for an additional year, to March 31, 2011.

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, [email protected], 416-947-8983 or visit www.pwc.com/ca/budget.

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For further information: Kiran Chauhan, [phone], [email protected]