I-0.4 - Mining Tax Act

Section 30.2 Disposition versions

2015-10-21

30.2. For the purposes of section 30.1, an operator’s reduced-rate taxable amount for a fiscal year is equal to

(1)  if the operator is not a member of an associated group in the fiscal year, $80,000,000; and

(2)  if the operator is a member of an associated group in the fiscal year, an amount attributed for the fiscal year to the operator pursuant to the agreement described in the second paragraph and filed with the Minister in the prescribed form containing prescribed information or, if no amount is attributed to the operator under the agreement or in the absence of such an agreement, zero.

The agreement to which subparagraph 2 of the first paragraph refers is the agreement under which all the operators that are members of the associated group in the fiscal year attribute for the fiscal year to one or more of their number, for the purposes of this section, one or more amounts the total of which does not exceed $80,000,000.

If the aggregate of the amounts attributed, for a fiscal year, pursuant to an agreement described in the second paragraph and entered into with the operators that are members of an associated group in the fiscal year exceeds $80,000,000, the amount determined under subparagraph 2 of the first paragraph in respect of each of those operators for the fiscal year is deemed, for the purposes of this section, to be equal to the proportion of $80,000,000 that that amount is of the aggregate of the amounts attributed for the fiscal year under the agreement.

For the purposes of this section, an associated group in a fiscal year means all the operators that are associated with each other at any time in the fiscal year.

2015, c. 21, s. 72.