### I-0.4 - Mining Tax Act

10.4. For the purposes of subparagraph f of subparagraph 2 of the fourth paragraph of section 8, if, at the end of a particular fiscal year, an operator is no longer the owner of class 1 property or class 2 property, the amount that the operator is required to deduct in computing its annual earnings from a mine for that particular fiscal year, in respect of property of that class, is equal to the proportion of the amount determined under the second paragraph that the use of the property of the class that is reasonably attributable to the operation of the mine for the particular fiscal year is of the total use of that property in that fiscal year.
The amount referred to in the first paragraph is equal to the amount by which the aggregate of the amounts referred to in subparagraphs a to d of paragraph 1 of the definition of “undepreciated capital cost” in the first paragraph of section 9, in respect of the class, exceeds the aggregate of the amounts referred to in subparagraphs a to h of paragraph 2 of the definition of that expression.
1994, c. 47, s. 12; 2011, c. 6, s. 35; 2015, c. 21, s. 59.
10.4. For the purposes of subparagraph f of subparagraph 2 of the fourth paragraph of section 8, if, at the end of a particular fiscal year, an operator is no longer the owner of class 1 property or class 2 property, the amount that the operator is required to deduct in computing its annual earnings from a mine for that particular fiscal year, in respect of property of that class, is equal to the proportion of the amount determined under the second paragraph that the use of the property of the class that is reasonably attributable to the operation of the mine for the particular fiscal year is of the total use of that property in that fiscal year.
The amount referred to in the first paragraph is equal to the amount by which the aggregate of the amounts referred to in subparagraphs a to d of paragraph 1 of the definition of “undepreciated capital cost” in section 9, in respect of the class, exceeds the aggregate of the amounts referred to in subparagraphs a to h of paragraph 2 of the definition of that expression.
1994, c. 47, s. 12; 2011, c. 6, s. 35.
10.4. For the purposes of subparagraph i of paragraph 2 of section 8, where at the end of a particular fiscal year an operator is no longer the owner of property of the first or second class, the amount that he is required to deduct in computing his annual profit for that particular fiscal year, in respect of the class, is the proportion of the amount determined under the second paragraph that the use of the property for the purposes of the operator’s mining operation for the particular fiscal year is of the total use of the property of the class in that fiscal year.
The amount referred to in the first paragraph is the amount by which the aggregate of the amounts referred to in subparagraphs a to d of paragraph 1 of the definition of “undepreciated capital cost” in section 9, in respect of the class, exceeds the aggregate of the amounts referred to in subparagraphs a to h of paragraph 2 of the definition of that expression.
1994, c. 47, s. 12.