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SOMBA K'E/YELLOWKNIFE
Minister of National Revenue Gail Shea met with members of the mining and small business community in Yellowknife this week. The closed-door roundtable discussion focused on federal government efforts to reduce costs for business in the North.

Participants at the meeting, which was held at the Chateau Nova Hotel and Suites on Tuesday morning, lauded the one-year renewal of a 15 per cent Canada Revenue Agency mineral exploration tax credit, intended to support junior exploration activities.

"Whether it's gold, uranium, nickel, potash, or diamonds, mining is a major contributor to our economy and a major source of jobs for Canadians," Shea said following the meeting, which ran for about 90 minutes.

Members of the Yellowknife business community who attended the meeting said they were interested to hear what the minister had to say about the tax credit.

"Northern businesses do take advantage of the mineral exploration tax credit and that's something certainly that's important to our fledgling mining industry," said roundtable participant Andy Wong, a tax consultant at MacKay LLP, Chartered Accountants, in Yellowknife.

Gary Vivian, president of exploration company Aurora Geosciences, attended the meeting for news on the mineral tax credit - which he said should be extended by more than one year at a time to accommodate the typical three- to five-year exploration programs.

Vivian said the minister was receptive to suggestions and knowledgeable about other issues facing the mining industry in the NWT, including high operating costs and lack of infrastructure.

"I found her to be very positive for sure and I think very understanding of some of the complex issues facing the NWT," Vivian said.

Other measures being introduced by the government through the recently-passed budget bill that were highlighted by Shea at the roundtable include the extension of the hiring credit for small business, and improvements to Canada Revenue Agency online business services.

Participants at the roundtable also raised the importance of initiatives specifically targeted to the North, including the Northern residency tax deduction, and concerns with the travel deduction in the North, Wong said.

"We simply listed a number of suggestions which she took to heart as far as I could tell," Wong said, noting Shea was seen "scribbling in her notebook.

"I think that's encouraging."

Other participants of the roundtable included Tom Hoefer, executive director of the NWT and Nunavut Chamber of Mines, Jack Rowe, director of the NWT Construction Association, William (Bill) Aho, member of the Prime Minister's Red Tape Reduction Commission, Hughie Graham, president of the NWT Chamber of Commerce, Darrell Beaulieu, president and CEO of Denendeh Investments Inc., and Doug Witty, owner of Force One.

Municipal issues being faced by small businesses, including the decline of the downtown retail market, were not brought up at the meeting, which focused on national tax issues.

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