I-0.4 - Mining Tax Act

Section 27.1 Disposition versions

1994-12-21

27.1. (Repealed).

1985, c. 39, s. 5; 1989, c. 43, s. 3; 1994, c. 47, s. 27.

1989-06-22

27.1. For the purposes of sections 9 to 26, the cost of a property is reduced by

(a)  the amount of any outlay or expense incurred in respect of the property to the extent that the outlay or expense constitutes an expense incurred

i.  by a person, including a partnership, pursuant to an agreement entered into with the operator or another corporation or partnership, under which the person incurs such expense solely as consideration for a share of the capital stock of the operator or of another corporation or partnership, for an interest in a partnership, or for an interest or right attaching to the share or interest; or

ii.  by a corporation, including the operator, where a share of the capital stock of the corporation was issued to a person, including a partnership, pursuant to an agreement in writing entered into between the person and the corporation, under which the corporation, for any purpose, agreed to incur such expense and to renounce to the person an amount in respect of the expense so incurred by the corporation not exceeding the consideration received by it for the share;

(b)  the amount of a subsidy or any other assistance received from a government, a municipality or another public body in respect of the property whether as a grant, a premium, a conditional repayment loan or a tax deduction in any other form.

1985, c. 39, s. 5; 1989, c. 43, s. 3.

1988-12-12

27.1. For the purposes of sections 9 to 26, the cost of a property is reduced by

(a)  the amount of any outlay or expense incurred in respect of the property to the extent that the outlay or expense constitutes an expenditure incurred by a person under an agreement entered into with an operator or another corporation or partnership, whereby the person incurs such expenditure solely as consideration for a share of the capital stock of the operator or of another corporation or partnership, for an interest in a partnership, or for an interest or right attaching to the share or interest;

(b)  the amount of a subsidy or any other assistance received from a government, a municipality or another public body in respect of the property whether as a grant, a premium, a conditional repayment loan or a tax deduction in any other form.

1985, c. 39, s. 5.

1985-12-19

27.1. For the purposes of sections 9 to 26, the cost of a property is reduced by

(a)  the amount of any outlay or expense incurred in respect of the property to the extent that the outlay or expense constitutes an expenditure incurred by a person under an agreement entered into with an operator or another corporation or partnership, whereby the person incurs such expenditure solely as consideration for a share of the capital stock of the operator or of another corporation or partnership, for an interest in a partnership, or for an interest or right attaching to the share or interest;

(b)  the amount of a subsidy or any other assistance received from a government, a municipality or another public body in respect of the property whether as a grant, a premium, a conditional repayment loan or a tax deduction in any other form, including a payment under the Emergency Gold Mining Assistance Act (Revised Statutes of Canada, 1970, Chapter E-5).

1985, c. 39, s. 5.