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

Section 385r1 Disposition versions

2012-09-01

385R1. In computing a taxpayer’s Canadian exploration and development expenses, a taxpayer must deduct an amount provided for in the first paragraph of section 385 of the Act to the extent that the amount is paid to the taxpayer

(a)  after 31 December 1971 under the Northern Mineral Exploration Assistance Regulations made under an appropriation Act of the Parliament of Canada that provides for payments in respect of the Northern Mineral Grants Program; or

(b)  pursuant to any agreement entered into between the taxpayer and Her Majesty in right of Canada under the Northern Mineral Grants Program or the Development Program of the Department of Indian Affairs and Northern Development of Canada, to the extent that the amount has been expended by the taxpayer as or on account of Canadian exploration and development expenses incurred by the taxpayer.

s. 385R1; O.C. 1981-80, s. 385R1; R.R.Q., 1981, c. I-3, r. 1, s. 385R1; O.C. 1149-2006, s. 22; O.C. 134-2009, s. 1.