I-0.4 - Mining Tax Act

Section 4.8 Disposition versions

2021-12-10

4.8. For the purpose of applying this Act to an operator for a functional currency year of the operator (in this section referred to as the “particular fiscal year”), the following amounts are to be converted from Canadian currency to the operator’s elected functional currency using the relevant spot rate for the last day of the operator’s last Canadian currency year:

(1)  the capital cost to the operator of a property that was acquired in a Canadian currency year of the operator;

(2)  any amount that

(a)  relates to the undepreciated capital cost of the operator’s property of a class within the meaning of section 9, the operator’s cumulative exploration, mineral deposit evaluation and mine development expenses within the meaning of section 16.1, the operator’s cumulative exploration expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.9, the operator’s cumulative pre-production development expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.11, the operator’s cumulative post-production development expenses in respect of a mine within the meaning of section 16.13, the cumulative critical and strategic mineral development expenses within the meaning of section 16.13.0.2, the cumulative community consultation expenses within the meaning of section 16.13.2, the cumulative environmental studies expenses within the meaning of section 16.13.4, the cumulative sustainable development certification expenses within the meaning of section 16.13.6, the operator’s cumulative exploration expenses in respect of expenses incurred before 31 March 2010 within the meaning of section 19.2, and the cumulative expenses relating to a Northern mine within the meaning of section 26.2 (each of which is in this paragraph referred to as a “pool amount”), and

(b)  was added or deducted in computing a pool amount of the operator in respect of a Canadian currency year of the operator; and

(3)  any other amount determined under this Act for or in respect of a Canadian currency year of the operator that is relevant in computing the Québec mining results of the operator for the particular fiscal year.

2011, c. 6, s. 18; 2019, c. 14, s. 43; 2020, c. 16, s. 13; 2021, c. 36, s. 36.

2020-09-24

4.8. For the purpose of applying this Act to an operator for a functional currency year of the operator (in this section referred to as the “particular fiscal year”), the following amounts are to be converted from Canadian currency to the operator’s elected functional currency using the relevant spot rate for the last day of the operator’s last Canadian currency year:

(1)  the capital cost to the operator of a property that was acquired in a Canadian currency year of the operator;

(2)  any amount that

(a)  relates to the undepreciated capital cost of the operator’s property of a class within the meaning of section 9, the operator’s cumulative exploration, mineral deposit evaluation and mine development expenses within the meaning of section 16.1, the operator’s cumulative exploration expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.9, the operator’s cumulative pre-production development expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.11, the operator’s cumulative post-production development expenses in respect of a mine within the meaning of section 16.13, the cumulative community consultation expenses within the meaning of section 16.13.2, the cumulative environmental studies expenses within the meaning of section 16.13.4, the cumulative sustainable development certification expenses within the meaning of section 16.13.6, the operator’s cumulative exploration expenses in respect of expenses incurred before 31 March 2010 within the meaning of section 19.2, and the cumulative expenses relating to a Northern mine within the meaning of section 26.2 (each of which is in this paragraph referred to as a “pool amount”), and

(b)  was added or deducted in computing a pool amount of the operator in respect of a Canadian currency year of the operator; and

(3)  any other amount determined under this Act for or in respect of a Canadian currency year of the operator that is relevant in computing the Québec mining results of the operator for the particular fiscal year.

2011, c. 6, s. 18; 2019, c. 14, s. 43; 2020, c. 16, s. 13.

2019-06-19

4.8. For the purpose of applying this Act to an operator for a functional currency year of the operator (in this section referred to as the “particular fiscal year”), the following amounts are to be converted from Canadian currency to the operator’s elected functional currency using the relevant spot rate for the last day of the operator’s last Canadian currency year:

(1)  the capital cost to the operator of a property that was acquired in a Canadian currency year of the operator;

(2)  any amount that

(a)  relates to the undepreciated capital cost of the operator’s property of a class within the meaning of section 9, the operator’s cumulative exploration, mineral deposit evaluation and mine development expenses within the meaning of section 16.1, the operator’s cumulative exploration expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.9, the 27 operator’s cumulative pre-production development expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.11, the operator’s cumulative post-production development expenses in respect of a mine within the meaning of section 16.13, the cumulative community consultation expenses within the meaning of section 16.13.2, the cumulative environmental studies expenses within the meaning of section 16.13.4, the operator’s cumulative exploration expenses in respect of expenses incurred before 31 March 2010 within the meaning of section 19.2, and the cumulative expenses relating to a Northern mine within the meaning of section 26.2 (each of which is in this paragraph referred to as a “pool amount”), and

(b)  was added or deducted in computing a pool amount of the operator in respect of a Canadian currency year of the operator; and

(3)  any other amount determined under this Act for or in respect of a Canadian currency year of the operator that is relevant in computing the Québec mining results of the operator for the particular fiscal year.

2011, c. 6, s. 18; 2019, c. 14, s. 43.

2011-06-06

4.8. For the purpose of applying this Act to an operator for a functional currency year of the operator (in this section referred to as the “particular fiscal year”), the following amounts are to be converted from Canadian currency to the operator’s elected functional currency using the relevant spot rate for the last day of the operator’s last Canadian currency year:

(1)  the capital cost to the operator of a property that was acquired in a Canadian currency year of the operator;

(2)  any amount that

(a)  relates to the undepreciated capital cost of the operator’s property of a class within the meaning of section 9, the operator’s cumulative exploration, mineral deposit evaluation and mine development expenses within the meaning of section 16.1, the operator’s cumulative exploration expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.9, the operator’s cumulative pre-production development expenses in respect of expenses incurred after 30 March 2010 within the meaning of section 16.11, the operator’s cumulative post-production development expenses in respect of a mine within the meaning of section 16.13, the operator’s cumulative exploration expenses in respect of expenses incurred before 31 March 2010 within the meaning of section 19.2, and the cumulative expenses relating to a Northern mine within the meaning of section 26.2 (each of which is in this paragraph referred to as a “pool amount”), and

(b)  was added or deducted in computing a pool amount of the operator in respect of a Canadian currency year of the operator; and

(3)  any other amount determined under this Act for or in respect of a Canadian currency year of the operator that is relevant in computing the Québec mining results of the operator for the particular fiscal year.

2011, c. 6, s. 18.