I-0.4 - Mining Tax Act

Section 16.13.4 Disposition versions

2019-06-19

16.13.4. The cumulative environmental studies expenses of an 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 and 16.15, 50% of the aggregate of all amounts each of which is expenses incurred by the operator after 27 March 2018 and before that time to carry out environmental studies in relation to a mining operation project, including those incurred before the exploration stage, but not including

i.  expenses for environmental studies referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9,

ii.  an expense that may reasonably be considered to be attributable to a mine which has come into production in reasonable commercial quantities or to an actual or potential extension of such a mine, or

iii.  fees payable under an Act or a regulation as rates, administrative costs, guarantees, compensatory measures or other fees of a similar nature, and

(b)  50% of 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 27 March 2018 and before that time, as an allowance for environmental studies under subparagraph i of subparagraph 2 of the second paragraph of section 8, and

(b)  50% of 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.

2019, c. 14, s. 48.