Mining Association of Canada welcomes Finance Department's consultation on Budget 2024 priorities; focus on eligibility threshold challenges of Clean Technology Manufacturing – Investment Tax Credit

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August 13, 2024 (press release) –

August 13, 2024

The Mining Association of Canada Encouraged by Government of Canada Efforts to Address Unintended Consequences of Budget Commitments

Ottawa, August 13th, 2024 – The Mining Association of Canada (MAC) welcomes the Department of Finance’s consultation on advancing key Budget 2024 priorities. For the mining sector, this consultation focuses on addressing the eligibility threshold challenges posed by the Clean Technology Manufacturing – Investment Tax Credit’s (CTM-ITC) treatment of critical minerals found in polymetallic deposits and measures to address the negative impact of Budget 2024’s change to the inclusion rate for capital gains combined with Budget 2023’s change to the Alternative Minimum Tax (AMT), which significantly reduce the incentive to invest in flow-through shares.

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