I-0.4 - Mining Tax Act

Full text
16.11. The cumulative pre-production development expenses of an operator in respect of expenses incurred after 30 March 2010, at any time (in this section referred to as that time ), are the amount determined by the formula
A - B.
In the formula in the first paragraph,
(1)  A is the aggregate of
(a)  subject to sections 16.14 to 16.18, the aggregate of all amounts each of which is expenses incurred by the operator, after 30 March 2010 and before that time, to bring a new mine for a mineral substance into production in reasonable commercial quantities, including expenses incurred in clearing, removing overburden and stripping, sinking a mine shaft and constructing an adit or other underground entry, to the extent that those expenses were incurred before the mine came into production in reasonable commercial quantities, and
(b)  the aggregate of all amounts each of which is an amount repaid by the operator before that time pursuant to a legal obligation to repay, in whole or in part, government assistance relating to an amount referred to in subparagraph a; and
(2)  B is the aggregate of
(a)  the aggregate of all amounts each of which is an amount deducted by the operator in computing its annual profit for a fiscal year that ends after 30 March 2010 and before that time, as a pre-production development allowance in respect of expenses incurred after 30 March 2010, under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010, or under paragraph f of subparagraph 2 of the second paragraph of section 8, and
(b)  the aggregate of all amounts each of which is an amount of government assistance relating to an amount referred to in subparagraph a of subparagraph 1 that the operator received or was entitled to receive before that time.
2011, c. 6, s. 43.