I-0.4 - Mining Tax Act

Section 26.2 Disposition versions

2011-06-06

26.2. Cumulative northern mine expenses, at any time, are equal to the amount by which the amount described in the second paragraph is exceeded by the aggregate of all amounts each of which is 166 2/3% of the capital cost to a northern mine operator of each asset situated in Québec that is used immediately before that time in processing ore from the mine and that is acquired after 9 May 1995 and before that time.

The amount to which the first paragraph refers is equal to the aggregate of all amounts each of which is an amount deducted by the operator, for a fiscal year ending before the time referred to in that paragraph, as an additional allowance for a northern mine under subparagraph j of paragraph 2 of section 8, as it read on 30 March 2010, or under subparagraph g of subparagraph 2 of the fourth paragraph of section 8.

1996, c. 4, s. 8; 2011, c. 6, s. 56.

1996-06-13

26.2. Cumulative northern mine expenses, at any time, are the amount by which

(1)  the aggregate of all amounts each of which is 1662/3% of the capital cost to the northern mine operator of each asset situated in Québec that is used immediately before that time in processing ore from the mine, and that is acquired after 9 May 1995 and before that time,

exceeds

(2)  the aggregate of all amounts each of which is an amount granted to the operator, for a fiscal year ending before that time, as an additional allowance for a northern mine under subparagraph j of paragraph 2 of section 8.

1996, c. 4, s. 8.