http://www.rev.gov.on.ca/en/tax/mining/index.html

https://www.rev.gov.on.ca/en/guides/mining/pdf/2011.pdf

Hi Mynot,

Two links above provide some info.

What I am reading is : If you are a REMOTE NEW mine in the province of Ontario, you get an exemption on up to 10 million of profit for a period of 10 years. If you are not remote then the exemption is only for 3 years.

"Mining Tax Exemption (MTE) on up to $10 million of profit during an exempt period is available for each new mine. The exempt period for a non-remote mine is three years, and the exempt period for a remote mine is ten years. "

Hodgeson's comments were:

"He also said his organization is lobbying government to reinstate the mine tax, which collects revenues insignificant to government but would provide a boon to communities. The tax only applies to new mines and typically brings in close to $60 million per mine."

I don't clearly know what he means by his statement.

There is tax on new remote mines for profit over 10 million & full tax after 10 years. When he mentions, "re-instate mine-tax," I wonder if he means "no 10 million dollar exemption for 10 years for new remote mines?"