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

Section 360r33 Disposition versions

2012-09-01

360R33. The expenses referred to in subparagraph a of the second paragraph of section 360R31 do not include

(a)  expenses renounced by the taxpayer under section 359.2 or 406 of the Act;

(b)  an amount included in the Canadian exploration and development overhead expenses of the taxpayer;

(c)  an amount related to financing, including the expenses incurred before the commencement of carrying on a business;

(d)  the eligible expenses, within the meaning of the Canadian Exploration Incentive Program Act (R.S.C. 1985, c. 27 (4th Suppl.)), in respect of which the taxpayer, a partnership of which the taxpayer is a member or a development corporation of which the taxpayer is a shareholder has received, is deemed to have received, is entitled to receive or may reasonable expect to receive, at any time, an incentive under that Act; or

(e)  where the taxpayer is an individual, the expenses referred to in section 360R90 and any expenditure that the taxpayer has included in computing the taxpayer’s exploration base relating to certain Québec exploration expenses under subparagraph i of paragraph a of section 726.4.10 of the Act.

s. 360R16.4; O.C. 2509-85, s. 18; O.C. 1746-88, s. 2; O.C. 91-94, s. 24; O.C. 35-96, s. 32; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.