I-3, r. 1 - Regulation respecting the Taxation Act

Section 87r6 Disposition versions

2012-09-01

87R6. For the purposes of paragraph z.4 of section 87 of the Act, a taxpayer’s resource loss for a taxation year is equal to the amount determined by the formula

A – B.

In the formula referred to in the first paragraph,

(a)  A is the aggregate of all amounts each of which is a Canadian exploration and development overhead expense, within the meaning given to that expression by section 360R2, made or incurred by the taxpayer in the year, other than an amount included therein because of section 181 or 182 of the Act; and

(b)  B is the taxpayer’s adjusted resource profits for the year within the meaning of section 145R2.

s. 87R5; O.C. 1470-2002, s. 4; O.C. 134-2009, s. 1.