I-0.4 - Mining Tax Act

Section 16.13.0.2 Disposition versions

2021-12-10

16.13.0.2. The cumulative critical and strategic mineral development expenses of an eligible operator, at any time (in this section referred to as “that time”), are the amount determined by the formula

A – B.

In the formula in the first paragraph,

(1)  A is the aggregate of

(a)  subject to sections 16.14 to 16.17, the aggregate of all amounts each of which is expenses described in section 16.13.0.3 and incurred by the operator after 25 March 2021 and before that time, and

(b)  the aggregate of all amounts each of which is an amount repaid by the operator before that time pursuant to a legal obligation to repay, in whole or in part, government assistance relating to an amount referred to in subparagraph a; and

(2)  B is the aggregate of

(a)  the aggregate of all amounts each of which is an amount deducted by the operator in computing its annual profit for a fiscal year that ends after 25 March 2021 and before that time, as a critical and strategic mineral development allowance under subparagraph g.1 of subparagraph 2 of the second paragraph of section 8, and

(b)  the aggregate of all amounts each of which is an amount of government assistance relating to an amount referred to in subparagraph a of subparagraph 1, that the operator received or was entitled to receive before that time.

2021, c. 36, s. 42.