I-0.4 - Mining Tax Act

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35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of subparagraph 1 of the second paragraph of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under any of paragraphs m, n and o of section 8, as they read before 13 May 1994, under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph c of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  (paragraph repealed);
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of subparagraph 1 of the second paragraph of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph g of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to a legal obligation, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  (paragraph repealed);
(8)  for the purposes of subparagraph d of subparagraph 1 of the second paragraph of section 8.0.0.1, the cumulative contributions account of a predecessor legal person, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the balance of the cumulative contributions account of the new legal person;
(8.1)  for the purposes of Division I.1 of Chapter V, the cumulative balance on account of a predecessor legal person’s minimum mining tax, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the cumulative balance on account of the new legal person’s minimum mining tax;
(9)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual profit under subparagraph h.1 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph e of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction;
(10)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph d of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(11)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph f of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(12)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.3 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph c of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(13)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual earnings from a mine under subparagraph h of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction;
(14)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph h of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(15)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph i of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction; and
(16)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.6, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph j of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction.
1994, c. 47, s. 38; 1996, c. 4, s. 11; 1996, c. 39, s. 5; 1997, c. 85, s. 26; 2011, c. 6, s. 63; 2015, c. 21, s. 78; 2019, c. 142019, c. 14, s. 52; 2020, c. 162020, c. 16, s. 22.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of subparagraph 1 of the second paragraph of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under any of paragraphs m, n and o of section 8, as they read before 13 May 1994, under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph c of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  (paragraph repealed);
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of subparagraph 1 of the second paragraph of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph g of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to a legal obligation, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  (paragraph repealed);
(8)  for the purposes of subparagraph d of subparagraph 1 of the second paragraph of section 8.0.0.1, the cumulative contributions account of a predecessor legal person, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the balance of the cumulative contributions account of the new legal person;
(8.1)  for the purposes of Division I.1 of Chapter V, the cumulative balance on account of a predecessor legal person’s minimum mining tax, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the cumulative balance on account of the new legal person’s minimum mining tax;
(9)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual profit under subparagraph h.1 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph e of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction;
(10)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph d of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(11)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph f of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(12)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.3 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph c of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(13)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual earnings from a mine under subparagraph h of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction;
(14)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph h of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction; and
(15)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph i of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction.
1994, c. 47, s. 38; 1996, c. 4, s. 11; 1996, c. 39, s. 5; 1997, c. 85, s. 26; 2011, c. 6, s. 63; 2015, c. 21, s. 78; 2019, c. 142019, c. 14, s. 52.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of subparagraph 1 of the second paragraph of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under any of paragraphs m, n and o of section 8, as they read before 13 May 1994, under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph c of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  (paragraph repealed);
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of subparagraph 1 of the second paragraph of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph g of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to a legal obligation, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  (paragraph repealed);
(8)  for the purposes of subparagraph d of subparagraph 1 of the second paragraph of section 8.0.0.1, the cumulative contributions account of a predecessor legal person, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the balance of the cumulative contributions account of the new legal person;
(8.1)  for the purposes of Division I.1 of Chapter V, the cumulative balance on account of a predecessor legal person’s minimum mining tax, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the cumulative balance on account of the new legal person’s minimum mining tax;
(9)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual profit under subparagraph h.1 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph e of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction;
(10)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph d of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(11)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph f of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(12)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.3 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph c of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction; and
(13)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual earnings from a mine under subparagraph h of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction.
1994, c. 47, s. 38; 1996, c. 4, s. 11; 1996, c. 39, s. 5; 1997, c. 85, s. 26; 2011, c. 6, s. 63; 2015, c. 21, s. 78.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of subparagraph 1 of the second paragraph of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under any of paragraphs m, n and o of section 8, as they read before 13 May 1994, under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph c of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  (paragraph repealed);
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of subparagraph 1 of the second paragraph of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph g of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to a legal obligation, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  for the purposes of Chapter V, the duties payable by a predecessor legal person for a fiscal year and its annual profit or annual loss for the fiscal year, as the case may be, are deemed to be the duties payable by the new legal person and its annual profit or annual loss, as the case may be, and the credit on duties refundable for losses of the predecessor legal person is deemed to be such a credit of the new legal person;
(8)  for the purposes of subparagraph d of subparagraph 1 of the second paragraph of section 8.0.0.1, the cumulative contributions account of a predecessor legal person, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the balance of the cumulative contributions account of the new legal person;
(9)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual profit under subparagraph h.1 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph e of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction;
(10)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph d of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(11)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph f of subparagraph 2 of the second paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(12)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of an expense referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph e.3 of paragraph 2 of section 8, as it read on 30 March 2010, or in computing its annual earnings from a mine under subparagraph c of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction; and
(13)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing its annual earnings from a mine under subparagraph h of subparagraph 2 of the fourth paragraph of section 8, is deemed to be an amount so allowed the new legal person as a deduction.
1994, c. 47, s. 38; 1996, c. 4, s. 11; 1996, c. 39, s. 5; 1997, c. 85, s. 26; 2011, c. 6, s. 63.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of paragraph 1 of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under paragraphs m, n and o of section 8 as they read before 13 May 1994, or under subparagraph e of paragraph 2 of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  each of the amounts that is an expense described in section 18 incurred by a predecessor legal person during the period beginning on 1 April 1975 and ending on 12 May 1994 or an expense in respect of which an investment allowance was claimed by the predecessor legal person is deemed to be, for the new legal person, an expense incurred or an expense in respect of which an investment allowance was claimed;
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of paragraph 1 of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to an obligation to do so, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  for the purposes of Chapter V, the duties payable by a predecessor legal person and the annual profit or the annual loss, as the case may be, of a predecessor legal person for a fiscal year are deemed to be the duties payable by the new legal person and the annual profit or the annual loss, as the case may be, of the new legal person, and the credit on duties, the deferrable credit on duties and the credit on duties refundable for losses and the credit on duties for losses of the predecessor legal person are deemed to be such credits of the new legal person;
(8)  for the purposes of subparagraph d of paragraph 1 of section 8.0.0.1, the cumulative contributions account of a predecessor legal person, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the balance of the cumulative contributions account of the new legal person;
(9)  each of the amounts allowed before the amalgamation to a predecessor legal person, as a deduction in computing annual profit under subparagraph h.1 of paragraph 2 of section 8, is deemed to be an amount so allowed the new legal person as a deduction.
1994, c. 47, s. 38; 1996, c. 4, s. 11; 1996, c. 39, s. 5; 1997, c. 85, s. 26.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of paragraph 1 of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under paragraphs m, n and o of section 8 as they read before 13 May 1994, or under subparagraph e of paragraph 2 of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  each of the amounts that is an expense described in section 18 incurred by a predecessor legal person during the period beginning on 1 April 1975 and ending on 12 May 1994 or an expense in respect of which an investment allowance was claimed by the predecessor legal person is deemed to be, for the new legal person, an expense incurred or an expense in respect of which an investment allowance was claimed;
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of paragraph 1 of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to an obligation to do so, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  for the purposes of Chapter V, the duties payable by a predecessor legal person and the annual profit or the annual loss, as the case may be, of a predecessor legal person for a fiscal year are deemed to be the duties payable by the new legal person and the annual profit or the annual loss, as the case may be, of the new legal person, and the credit on duties, the deferrable credit on duties and the credit on duties refundable for losses and the credit on duties for losses of the predecessor legal person are deemed to be such credits of the new legal person;
(8)  for the purposes of subparagraph d of paragraph 1 of section 8.0.0.1, the cumulative contributions account of a predecessor legal person, determined immediately before the amalgamation, is deemed, immediately after the amalgamation, to be the balance of the cumulative contributions account of the new legal person.
1994, c. 47, s. 38; 1996, c. 4, s. 11; 1996, c. 39, s. 5.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor legal person immediately before the amalgamation is deemed
(a)  to have been acquired by the new legal person at the time at which the predecessor legal person acquired it; and
(b)  to have a capital cost to the new legal person equal to its capital cost to the predecessor legal person;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor legal person, and each of the amounts that would have been deducted or included by the predecessor legal person in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new legal person in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor legal person as an expense referred to in subparagraph a or b of paragraph 1 of section 16.1, or allowed the predecessor legal person as a deduction in computing its annual profit under paragraphs m, n and o of section 8 as they read before 13 May 1994, or under subparagraph e of paragraph 2 of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(4)  each of the amounts that is an expense described in section 18 incurred by a predecessor legal person during the period beginning on 1 April 1975 and ending on 12 May 1994 or an expense in respect of which an investment allowance was claimed by the predecessor legal person is deemed to be, for the new legal person, an expense incurred or an expense in respect of which an investment allowance was claimed;
(5)  each of the amounts incurred before the amalgamation by a predecessor legal person in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of paragraph 1 of section 19.2, or allowed the predecessor legal person as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, is deemed to be an amount so incurred by the new legal person or an amount so allowed the new legal person as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to an obligation to do so, by a predecessor legal person before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new legal person;
(7)  for the purposes of Chapter V, the duties payable by a predecessor legal person and the annual profit or the annual loss, as the case may be, of a predecessor legal person for a fiscal year are deemed to be the duties payable by the new legal person and the annual profit or the annual loss, as the case may be, of the new legal person, and the credit on duties, the deferrable credit on duties and the credit on duties refundable for losses and the credit on duties for losses of the predecessor legal person are deemed to be such credits of the new legal person.
1994, c. 47, s. 38; 1996, c. 4, s. 11.
35.3. The following rules apply in the case of an amalgamation referred to in section 35.2 for the purposes of fiscal years ending after the amalgamation:
(1)  each property of each class described in section 9 belonging to a predecessor corporation immediately before the amalgamation is deemed
(a)  to have been acquired by the new corporation at the time at which the predecessor corporation acquired it; and
(b)  to have a capital cost to the new corporation equal to its capital cost to the predecessor corporation;
(2)  each of the amounts deducted or included in determining the undepreciated capital cost of property of a class of a predecessor corporation, and each of the amounts that would have been deducted or included by the predecessor corporation in determining such undepreciated capital cost for the first fiscal year ending after the amalgamation, assuming there were such a fiscal year, are deemed to be amounts deducted or included by the new corporation in determining the undepreciated capital cost of property of that class;
(3)  each of the amounts incurred before the amalgamation by a predecessor corporation as an expense referred to in subparagraph a or b of paragraph 1 of section 16.1, or allowed the predecessor corporation as a deduction in computing its annual profit under paragraphs m, n and o of section 8 as they read before 13 May 1994, or under subparagraph e of paragraph 2 of section 8, is deemed to be an amount so incurred by the new corporation or an amount so allowed the new corporation as a deduction;
(4)  each of the amounts that is an expense described in section 18 incurred by a predecessor corporation during the period beginning on 1 April 1975 and ending on 12 May 1994 or an expense in respect of which an investment allowance was claimed by the predecessor corporation is deemed to be, for the new corporation, an expense incurred or an expense in respect of which an investment allowance was claimed;
(5)  each of the amounts incurred before the amalgamation by a predecessor corporation in respect of exploration and underground core drilling work carried out in Québec and referred to in subparagraph a of paragraph 1 of section 19.2, or allowed the predecessor corporation as a deduction in computing its annual profit under subparagraph g of paragraph 2 of section 8, is deemed to be an amount so incurred by the new corporation or an amount so allowed the new corporation as a deduction;
(6)  each of the amounts of government assistance received or receivable, or repaid pursuant to an obligation to do so, by a predecessor corporation before the amalgamation is deemed to be an amount received or receivable, or so repaid, by the new corporation;
(7)  for the purposes of Chapter V, the duties payable by a predecessor corporation and the annual profit or the annual loss, as the case may be, of a predecessor corporation for a fiscal year are deemed to be the duties payable by the new corporation and the annual profit or the annual loss, as the case may be, of the new corporation, and the credit on duties, the deferrable credit on duties and the credit on duties refundable for losses and the credit on duties for losses of the predecessor corporation are deemed to be such credits of the new corporation.
1994, c. 47, s. 38.