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

Section 399r1 Disposition versions

2012-09-01

399R1. For the purposes of paragraph c of section 399 of the Act, in computing a taxpayer’s cumulative Canadian exploration expenses, a taxpayer is required to deduct an amount provided for in that paragraph, to the extent that the amount has been expended by the taxpayer as or on account of Canadian exploration and development expenses or Canadian exploration expenses incurred by the taxpayer and paid to the taxpayer

(a)  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.

s. 399R1; O.C. 1981-80, s. 399R1; R.R.Q., 1981, c. I-3, r. 1, s. 399R1; O.C. 1149-2006, s. 23; O.C. 134-2009, s. 1.