WebAs a result of the extension, the corporation will have until 31 December 2024 versus 31 December 2024 for a flow-through share agreement entered into in 2024 and renounced by 31 December 2024. Relief provided in respect of Part XII.6 tax for flow-through share agreements entered into in 2024 and 2024 under the look-back rules. WebPart XII.6 of the Act levies a tax on flow-through share issuers that use the "look-back" rule under subsection 66 (12.66). Under that subsection, certain CEE incurred in a …

Finance Canada announces extension to incur flow-through ... - EY

WebLook-back Rule. Under the look-back rule, a FT Share Issuer may enter into a flow-through share agreement with an investor in a calendar year and renounce certain … WebAug 19, 2024 · The Department of Finance has indicated that it will extend the deadline for an issuer of flow-through shares to incur qualifying expenses renounced to the investor by 12 months. The proposal will add 12 months to the period for incurring expenses under both the general rule and the look back rule. For expenses incurred under the general rule ... candy store display fixtures

Budget 2024: Changes to Canadian Exploration Expense and Flow-Through ...

Webgovernment extended the "look-back" period to one year. In order to be eligible to have expenses treated as having been incurred at the end of a calendar year under the … WebFlow-through shares are a financing tool available to a Canadian resource company that allows it to issue new equity (shares) to investors at a higher price than it would receive for “normal” shares, thereby assisting it in … WebApr 4, 2024 · In a typical flow-through share issuance, the PBC will rely on the look-back rule to renounce CEE on December 31 of year 1, providing the investor with a deduction in that year, but will incur CEE in year 2, using the funds raised on the share issuance. candy store fore street portland maine