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

Section 130r218 Disposition versions

2021-03-10

130R218. If the taxpayer has not been granted an allowance in respect of a mine or right in computing income for a previous taxation year, the rate to which section 130R217 refers is the rate determined by the following formula:

A × (B − C) / D.

In the formula in the first paragraph,

(a)  A is one of the following factors:

i.  1.5, if the property is an accelerated investment incentive property acquired before 1 January 2024,

ii.  1.25, if the property is an accelerated investment incentive property acquired after 31 December 2023, and

iii.  1, in any other case;

(b)  B is the capital cost of the mine or right to the taxpayer;

(c)  C is the estimated value of the property if the merchantable mineable material were removed; and

(d)  D is,

i.  if the taxpayer has acquired a right to remove only a specified number of units, the specified number of units of material that the taxpayer has acquired a right to remove, and

ii.  in any other case, the number of units of merchantable mineable material estimated as being in the mine when the mine or right was acquired.

s. 130R114; O.C. 1981-80, s. 130R114; R.R.Q., 1981, c. I-3, r. 1, s. 130R114; O.C. 134-2009, s. 1; O.C. 164-2021, s. 26.

2012-09-01

130R218. Where the taxpayer has not been granted an allowance in respect of a mine or right in computing the taxpayer’s income for a previous taxation year, the rate referred to in section 130R217 is the amount equal to the quotient obtained by dividing the amount by which the capital cost to the taxpayer of the mine or right exceeds the estimated value of the property if all merchantable mineable material were removed by the specified number of units of material that the taxpayer acquired the right to remove or, in any other case, the number of units of merchantable mineable material estimated as being in the mine when the mine or right was acquired.

s. 130R114; O.C. 1981-80, s. 130R114; R.R.Q., 1981, c. I-3, r. 1, s. 130R114; O.C. 134-2009, s. 1.