I-0.4 - Mining Tax Act

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16.7. The amount that an eligible operator may deduct as an exploration allowance in respect of expenses incurred after 30 March 2010 under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, in computing its annual profit for its fiscal year that ends after 30 March 2010 and includes that date, or under subparagraph d of subparagraph 2 of the second paragraph of section 8 in computing its annual profit for a fiscal year that begins after 30 March 2010, must not exceed its cumulative exploration expenses in respect of such expenses at the end of the fiscal year.
2011, c. 6, s. 43.