Replies to post #118868 on Sarissa Resources Inc (SRSR)

[supermegadope]

I do not see any evidence but if I had to guess based on the following I would say mining profits will be taxed at a higher rate. Time will tell.

Ontario Budget Proposes Review of Provincial Mining Tax System

Most important to the mining community is the Budget’s announcement that the government will be reviewing the provincial mining tax system in Ontario “to ensure that Ontario receives fair compensation for its non-renewable resources.” While no details were offered (see the relevant excerpt from the Budget materials below), clearly the government is interested in increasing its share of revenues from mining within the province. Mining companies considering new projects or the expansion of existing ones will need to consider the possibility of higher Ontario mining taxes in making business decisions, and the mining community should prepare to get actively involved in the review process in order to ensure that its concerns are heard and accounted for in any revision to the provincial mining tax regime.