I-0.4 - Mining Tax Act

Section 26.5 Disposition versions

2011-06-06

26.5. For the purposes of subparagraph 2 of the first paragraph of section 26.4, the following rules apply:

(1)  an operator’s eligibility period in respect of a mine means the period that begins on the date on which the mine comes into production in reasonable commercial quantities and that ends 36 months after that date; and

(2)  the part of an operator’s annual earnings from a mine for a fiscal year that is attributable to the operator’s eligibility period in respect of the mine is equal to the annual earnings from the mine for the fiscal year, computed without reference to subparagraph h of subparagraph 2 of the fourth paragraph of section 8, multiplied by the proportion that the number of days in the fiscal year that are included in the operator’s eligibility period in respect of the mine is of the number of days in the fiscal year.

2011, c. 6, s. 58.