I-0.4 - Mining Tax Act

Section 19.2 Disposition versions

2011-06-06

19.2. The cumulative exploration expenses of an operator, at any time (in this section referred to as “that time”), in respect of expenses incurred before 31 March 2010, 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 19.4 to 19.7, the aggregate of all amounts each of which is an expense incurred by the operator after 12 May 1994 and before 31 March 2010, in respect of exploration or underground core drilling work carried out in Québec, where the mineral substances in respect of which the work is carried out form part of the domain of the State and where the work is performed in connection with the operator’s mining operation

i.  elsewhere than on land under a mining lease or mining concession, and before ore is extracted, or

ii.  on land under a mining lease or mining concession, except land from which ore has been or was extracted in the five fiscal years preceding 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 expenses referred to in subparagraph a; and

(2)  B is the aggregate of

(a)  the aggregate of all amounts each of which is twice an amount deducted by an operator under subparagraph g of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph g of subparagraph 2 of the second paragraph of section 8 in computing its annual profit for a fiscal year ending before that time, 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 paragraph 1 that the operator received or was entitled to receive before that time.

For the purposes of subparagraph a of subparagraph 1 of the second paragraph and sections 19.4 to 19.7, “exploration”, “mine development”, “mineral deposit”, “mineral deposit evaluation”, “mining operation” and “orebody” have the meaning assigned by section 1, as it read on 30 March 2010.

1994, c. 47, s. 19; 1999, c. 40, s. 111; 2011, c. 6, s. 45.

1999-10-22

19.2. The cumulative exploration expenses of an operator at any time are the amount by which

(1)  the aggregate of

(a)  subject to sections 19.4 to 19.7, the total of all amounts each of which is an expense incurred by the operator after 12 May 1994 and before that time, in respect of exploration or underground core drilling work carried out in Québec, where the mineral substances in respect of which the work is carried out form part of the domain of the State and where the work is performed in connection with the operator’s mining operation

i.  elsewhere than on land under a mining lease or mining concession, and performed before ore is extracted; or

ii.  on land under a mining lease or mining concession, except land from which ore has been or was extracted in the five fiscal years preceding that time; and

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

exceeds

(2)  the aggregate of

(a)  the total of all amounts each of which is twice an amount allowed to an operator, in computing his annual profit for a fiscal year ending before that time, as an additional exploration allowance under subparagraph g of paragraph 2 of section 8; and

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

1994, c. 47, s. 19; 1999, c. 40, s. 111.

1994-12-21

19.2. The cumulative exploration expenses of an operator at any time are the amount by which

(1)  the aggregate of

(a)  subject to sections 19.4 to 19.7, the total of all amounts each of which is an expense incurred by the operator after 12 May 1994 and before that time, in respect of exploration or underground core drilling work carried out in Québec, where the mineral substances in respect of which the work is carried out form part of the public domain and where the work is performed in connection with the operator’s mining operation

i.  elsewhere than on land under a mining lease or mining concession, and performed before ore is extracted; or

ii.  on land under a mining lease or mining concession, except land from which ore has been or was extracted in the five fiscal years preceding that time; and

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

exceeds

(2)  the aggregate of

(a)  the total of all amounts each of which is twice an amount allowed to an operator, in computing his annual profit for a fiscal year ending before that time, as an additional exploration allowance under subparagraph g of paragraph 2 of section 8; and

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

1994, c. 47, s. 19.