I-0.4 - Mining Tax Act

Full text
8.0.0.1. The cumulative contributions account of a particular operator relating to a mine, at any time (in this section referred to as that time ), is equal to the amount determined by the formula
A - B.
In the formula in the first paragraph,
(1)  A is the aggregate of
(a)  the total of all amounts each of which is a contribution paid by the particular operator after 12 May 1994 and before that time to an environmental trust under which the particular operator is a beneficiary, for the reclamation of land that is or was used for the operation of the mine,
(b)  the total of all amounts each of which is the consideration paid by the particular operator after 12 May 1994 and before that time for the acquisition, from another person or partnership, of all or part of the particular operator’s interest as a beneficiary under an environmental trust maintained for the sole purpose of financing the reclamation of land that is or was used for the operation of the mine, other than consideration that is the assumption of a reclamation obligation in respect of the trust,
(c)  the amount of an operator’s cumulative contributions account in respect of the environmental trust in which all or part of an interest as a beneficiary is acquired by the particular operator as consideration for the assumption of a reclamation obligation, in respect of the trust, in relation to land that is or was used for the operation of the mine, determined immediately before the time of acquisition, and
(d)  the aggregate of all amounts each of which is a balance of the cumulative contributions account of the particular operator in relation to the mine, as determined before that time under paragraph 8 of section 35.3; and
(2)  B is the aggregate of
(a)  all amounts each of which is an amount included, either under subparagraph d of paragraph 1 of section 8, as it read on 30 March 2010, in computing the operator’s annual profit for a fiscal year beginning before that date, or under subparagraph f of subparagraph 1 of the fourth paragraph of section 8 in computing the operator’s annual earnings from a mine, for a fiscal year ending before that time, and
(b)  the amount included in determining an operator’s cumulative contributions account relating to the mine, under subparagraph c of paragraph 1, because of the acquisition by that operator of all or part of the interest of the particular operator, as a beneficiary under an environmental trust.
1996, c. 39, s. 4; 2000, c. 5, s. 3; 2011, c. 6, s. 21.
8.0.0.1. The cumulative contributions account of a particular operator at any time is the amount by which
(1)  the aggregate of
(a)  the aggregate of all amounts each of which is a contribution paid by the particular operator after 12 May 1994 and before that time to an environmental trust under which the particular operator is a beneficiary, for the reclamation of land that is a mining operation ;
(b)  the aggregate of all amounts each of which is the consideration paid by the particular operator after 12 May 1994 and before that time for the acquisition, from another person or partnership, of all or part of the particular operator’s interest as a beneficiary under an environmental trust maintained for the sole purpose of financing the reclamation of land that is a mining operation, other than consideration that is the assumption of a reclamation obligation in respect of the trust ;
(c)  the amount of the cumulative contributions account of an operator in respect of the environmental trust all or part of whose interest as a beneficiary is acquired by the particular operator as consideration for the assumption of a reclamation obligation, in respect of the trust, in relation to land that is a mining operation, determined immediately before the time of acquisition ; and
(d)  the aggregate of all amounts each of which is a balance of the cumulative contributions account of the particular operator, as determined, before that time, under paragraph 8 of section 35.3; exceeds
(2)  the aggregate of
(a)  all amounts each of which is an amount included, under subparagraph d of paragraph 1 of section 8, in computing the operator’s annual profit for a fiscal period ending before that time, and
(b)  the amount included in determining an operator’s cumulative contributions account, under subparagraph c of paragraph 1, because of the acquisition by the operator of all or part of the interest of the particular operator, as a beneficiary under an environmental trust.
1996, c. 39, s. 4; 2000, c. 5, s. 3.
8.0.0.1. The cumulative contributions account of a particular operator at any time is the amount by which
(1)  the aggregate of
(a)  all amounts each of which is a contribution paid by the particular operator after 12 May 1994 and before that time to a mining reclamation trust under which the particular operator is a beneficiary,
(b)  all amounts each of which is the consideration paid by the particular operator after 12 May 1994 and before that time for the acquisition of all or part of the particular operator’s interest as a beneficiary under a mining reclamation trust from another person or partnership, other than consideration that is the assumption of a mining reclamation obligation in respect of the trust,
(c)  the amount of the cumulative contributions account of an operator in respect of the mining reclamation trust all or part of whose interest as a beneficiary is acquired by the particular operator as consideration for the assumption of a mining reclamation obligation in respect of the trust, determined immediately before the time of acquisition, and
(d)  the aggregate of all amounts each of which is a balance of the cumulative contributions account of the particular operator, as determined, before that time, under paragraph 8 of section 35.3; exceeds
(2)  the aggregate of
(a)  all amounts each of which is an amount included, under subparagraph d of paragraph 1 of section 8, in computing the operator’s annual profit for a fiscal period ending before that time, and
(b)  the amount included in determining the operator’s cumulative contributions account, under subparagraph c of paragraph 1, because of the acquisition by the operator of all or part of the interest of the particular operator, as a beneficiary under a mining reclamation trust.
1996, c. 39, s. 4.