Ok we got another Dump of Snow! How is land rent with flooding in 2013!

[oneoff]

Good question; not fully sure;

But I know a non-resident who had an interest in mineral rights in Sask and never had any taxes to pay to anyone on that asset. I think the taxmmen get interested at income tax time.
Will do a litle research.

[oneoff]

This from the Gov't web site. Taxes applicable only if an individual has more than 3200 acres. Farm Corporations must meet guidelines and other corporations pay a tax.




History

Geological exploration has occurred in Saskatchewan for more than 100 years. Metallic and industrial minerals, as well as fossil fuels have been discovered and developed throughout the province.

In 1870, the Hudson's Bay Company transferred the lands, including mineral rights, it had held in what is now Saskatchewan to the Dominion of Canada. Two years later, the Canadian government introduced the Dominion lands policy. In part this policy allowed the issuance of homestead grants which included mineral rights.

Any homestead grants issued by the government after the late 1800's were for surface rights only. Mineral rights remained the property of the Crown under the federal government.

About this time, other Saskatchewan settlers purchased lands from either railway companies or private land holding companies. In some cases, these settlers also received mineral rights along with their surface rights.

In 1930, Canada transferred ownership of the mineral rights held by the federal Crown since 1870 to Saskatchewan. Approximately 62.4 million acres in the surveyed area are under the jurisdiction of Saskatchewan. Today these provincially held mineral rights are administered by Saskatchewan Energy and Mines. The remaining mineral rights, 17.2 million acres, are held by individuals, companies and corporations.

This private ownership is termed freehold. Fractionally, four-fifths of Saskatchewan's surveyed area is held by the Crown under the jurisdiction of the provincial government and one-fifth is freehold.



Current Status of Mineral Rights

To obtain the status of mineral ownership on any freehold property, the title must be checked at the appropriate land titles office.

Mineral Land Tax

The Mineral Taxation Act provides for a mineral tax to be levied against all owners of mineral rights. An individual is taxed only on the mineral rights owned in excess of five nominal sections, (3,200 acres).

All mineral rights owned by corporations are taxable, with the exception of those minerals within the corporate limits of cities, towns and villages, minerals underlying railway right of ways and cemeteries, and farm corporations which meet certain guidelines. In addition, an exemption from tax is available to mineral rights purchased for reserve creation under Saskatchewan Treaty Land Entitlement Agreements.

Freehold Mineral Rights

Mineral rights may be disposed of under any terms and conditions the owner chooses. A nonresident may own mineral rights in Saskatchewan and is subject to the same rules of taxation and transfer as apply to resident owners

[Hopperbin]

Very interesting. Every now and then there is some very good learning opportunity on this site.

[SASKFARMER3]

Good info thanks

[Hopperbin]

On that last paragraph oneoff? By non resident does that mean non resident of Sask. or Canada?

[oneoff]

Just about fully sure that all Canadian citizens are residents for Sask Farmland purchase purposes. In fact one of the reasons that the Farm Land Security Board grants exemptions (with conditios) is to give non-Canadian persons time to become Canadian citizens.