103 (1) An individual who is a qualifying individual for a taxation year and who complies with the requirements of this section may claim an amount for the year in respect of and not exceeding his or her Ontario focused flow-through share tax credit for the year.  2007, c. 11, Sched. A, s. 103 (1). Qualifying individual (2) An individual is a qualifying individual for a taxation year for the purposes of this section if the individual is resident in Ontario on the last day of the taxation year.  2010, c. 26, Sched. 20, s. 7. Amount of tax credit, before 2023 (3) The amount of a qualifying individual’s Ontario focused flow-through share tax credit for a taxation year ending before January 1, 2023 is five per cent of the amount of the individual’s eligible Ontario exploration expenditures for the year in respect of each Ontario focused flow-through share that was issued by a mining exploration company and acquired by the individual under an agreement made after October 17, 2000. 2023, c. 21, Sched. 13, s. 5 (1). Amount of tax credit, taxation years after 2022 (3.1) The amount of a qualifying individual’s Ontario focused flow-through share tax credit for a taxation year ending after December 31, 2022 is the sum of the following amounts: 1. Five per cent of the individual’s eligible Ontario exploration expenditures for the year in respect of each Ontario focused flow-through share that was issued by a mining exploration company and acquired by the individual under an agreement made after October 17, 2000. 2. Five per cent of the individual’s eligible Ontario critical mineral exploration expenditures for the year incurred after December 31, 2022 in respect of each Ontario focused flow-through share that was issued by a mining exploration company and acquired by the individual under an agreement made after April 7, 2022. 2023, c. 21, Sched. 13, s. 5 (1). Eligible Ontario exploration expenditures (4) The amount of an individual’s eligible Ontario exploration expenditures for a taxation year in respect of an Ontario focused flow-through share is the amount that would be the individual’s flow-through mining expenditure in respect of the share for the year, as determined under the definition of that term in subsection 127 (9) of the Federal Act, if, (a) any reference to “Canada” in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1 (6) of the Federal Act, as that definition applies for the purpose of the definition of “flow-through mining expenditure” in subsection 127 (9) of that Act, were read as a reference to “Ontario”; (b) the amount of the individual’s flow-through mining expenditure for the year were reduced by the amount of any government assistance or non-government assistance in respect of expenses, in respect of expenses included in the individual’s flow-through mining expenditure for the year that, on the individual’s filing-due date for the year, the individual has received, is entitled to receive or may reasonably expect to receive; and (c) paragraph (a) of the definition of “flow-through mining expenditure” in subsection 127 (9) of the Federal Act were read as “that is a Canadian exploration expense incurred by a corporation after May 1, 2006 in conducting mining exploration activity from or above the surface of the earth for the purpose of determining the existence, location, extent or quality of a mineral resource described in paragraph (a) or (d) of the definition of “mineral resource” in subsection 248 (1) of that Act”. 2007, c. 11, Sched. A, s. 103 (4); 2023, c. 21, Sched. 13, s. 5 (2-4). Eligible Ontario critical mineral exploration expenditures (4.1) The amount of an individual’s eligible Ontario critical mineral exploration expenditures for a taxation year in respect of an Ontario focused flow-through share is the amount that would be the individual’s flow-through critical mineral mining expenditure in respect of the share for the year, as determined under the definition of that term in subsection 127 (9) of the Federal Act, if, (a) any reference to “Canada” in paragraph (f) of the definition of “Canadian exploration expense” in subsection 66.1 (6) of the Federal Act, as that definition applies for the purpose of the definition of “flow-through critical mining expenditure” in subsection 127 (9) of that Act, were read as a reference to “Ontario”; and (b) the amount of the individual’s flow-through critical mineral mining expenditure for the year were reduced by the amount of any government assistance or non-government assistance in respect of expenses included in the individual’s flow-through critical mineral mining expenditure for the year that, on the individual’s filing-due date for the year, the individual has received, is entitled to receive or may reasonably expect to receive. 2023, c. 21, Sched. 13, s. 5 (5). Bankruptcy (5) The amount of an individual’s eligible Ontario exploration expenditures and eligible Ontario critical mineral exploration expenditures for a taxation year in respect of an Ontario focused flow-through share is deemed to be nil if the individual is a bankrupt at any time in the calendar year containing the taxation year. 2007, c. 11, Sched. A, s. 103 (5); 2021, c. 40, Sched. 21, s. 7; 2023, c. 21, Sched. 13, s. 5 (6). Application and certificate (6) A qualifying individual is not eligible to receive a tax credit under this section for a taxation year unless he or she, (a) obtains a certificate in a form approved by the Ontario Minister from the mining exploration company that issued the share, setting out the amount of Canadian exploration expenditures renounced by the company in its taxation year to the holder of the share; and (b) submits an application for the tax credit and the certificate referred to in clause (a) with the return required to be filed for the year for which the individual claims the tax credit.  2007, c. 11, Sched. A, s. 103 (6). Definitions (7) In this section, “government assistance” means assistance from a government, municipality or other public authority in any form, including a grant, subsidy, forgivable loan, tax credit or deduction from tax and investment allowance, but does not include a tax credit under this section or an investment tax credit under section 127 of the Federal Act; (“aide gouvernementale”) “mining exploration company” means a corporation that, (a) has a permanent establishment in Ontario at the time any expenditures are incurred that are renounced to the holder of the share, and (b) is a principal-business corporation as defined in subsection 66 (15) of the Federal Act; (“compagnie d’exploration minière”) “Ontario focused flow-through share” means a flow-through share, as defined in subsection 66 (15) of the Federal Act that is issued by a mining exploration company. (“action accréditive ciblée de l’Ontario”)  2007, c. 11, Sched. A, s. 103 (7). Section Amendments with date in force (d/m/y) 2010, c. 26, Sched. 20, s. 7 - 01/01/2009 2021, c. 40, Sched. 21, s. 7 - 01/01/2022 2023, c. 21, Sched. 13, s. 5 (1-6) - 01/01/2023 Ontario seniors’ public transit tax credit