I-0.4 - Mining Tax Act

Section 10.15 Disposition versions

2015-10-21

10.15. For the purposes of subparagraph f of subparagraph 2 of the fourth paragraph of section 8 and subparagraph e of subparagraph 2 of the second paragraph of section 8.1.1, if, at the end of a fiscal year, an operator no longer owns class 1A property or class 2A property, the amount that the operator is required to deduct in computing its annual earnings from a mine for the fiscal year, and in computing the mine-mouth output value in respect of the mine for the fiscal year, in respect of property of that class, is equal to the proportion of the amount determined under the second paragraph that the use of the property of the class that is reasonably attributable to the operation of the mine for the fiscal year is of the total use of that property in the fiscal year.

The amount referred to in the first paragraph is equal to the amount by which the aggregate of the amounts referred to in subparagraphs a to d of paragraph 1 of the definition of “undepreciated capital cost” in the first paragraph of section 9, in respect of the class, exceeds the aggregate of the amounts referred to in subparagraphs a to h of paragraph 2 of the definition of that expression.

2015, c. 21, s. 61.