It has been brought to our attention that a limited number of our investors in Maple Leaf Short Duration 2022 Flow-Through Limited Partnership (MLSD 2022), Maple Leaf Short Duration 2022-II Flow-Through Limited Partnership (MLSD 2022-II) and Maple Leaf 2022 Flow Through Limited Partnership (ML 2022 OM) have received standard-form request letters from the Canada Revenue Agency (CRA). These letters appear to be requesting additional information to support claims for the Critical Minerals Enhanced Tax Credit (CMETC) and the Mineral Exploration Tax Credit (METC) for affected investor’s personal income tax returns for the 2022 tax year.
If you have received a CRA request letter specifically and exclusively in relation to claiming both the CMETC and METC on eligible Canadian exploration expenses for the year, please respond to the CRA letter and provide (as per the instructions in the CRA request letter):
– T1229 – Statement of Resource Expenses and Depletion Allowance (from your 2022 tax return)
– T5013 issued to you from MLSD 2022 and/or MLSD 2022-II
– Such other forms as related exclusively to claiming the CMETC or METC or both
The CRA has confirmed that they will review the above documentation and allow investors to be able to claim both the CMETC and METC and receive all of the 2022 tax credits to which they are legally entitled.