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

Section 91r1 Disposition versions

2012-09-01

91R1. For the purposes of section 91 of the Act, a prescribed amount is

(a)  an amount receivable by Her Majesty in right of Canada for the use and benefit of a band, within the meaning of the Indian Act (R.S.C. 1985, c. I-5), or by Petro-Canada;

(b)  an amount receivable after 11 December 1979, in respect of a period after that date, by a person described in section 90 of the Act,

i.  if that amount may be considered related to the leasing of property described in paragraph b or e of section 370 of the Act and if it becomes receivable before the beginning of production, in reasonable commercial quantities, of minerals obtained from that property, or

ii.  if that amount may be considered related to the leasing of a right, permit or privilege for underground storage in Canada of petroleum, natural gas or related hydrocarbons;

(c)  an amount paid under section 49 of the Canada Oil and Gas Act (R.S.C. 1985, c. O-6); or

(d)  an amount equal to the lesser of the following amounts:

i.  an amount that became receivable by a person referred to in section 90 of the Act as rental for property referred to in paragraph a of section 370 of the Act or for a portion of such property and that became receivable either in a taxation year in which there was no taking of petroleum, natural gas or related hydrocarbons in relation to the property or portion thereof, as the case may be, to which the rental relates, if the amount became receivable after 31 December 1984, or prior to the taking of petroleum, natural gas or related hydrocarbons in relation to the property or portion thereof, as the case may be, to which the rental relates, if the amount became payable after 31 October 1982 and before 1 January 1985, and

ii.  an amount obtained by multiplying $2.50 per year per hectare by the number of hectares to which the amount referred to in subparagraph i relates.

s. 91R1; O.C. 1981-80, s. 91R1; O.C. 1535-81, s. 2; R.R.Q., 1981, c. I-3, r. 1, s. 91R1; O.C. 2509-85, s. 1; O.C. 35-96, s. 86; O.C. 134-2009, s. 1.