I-0.4 - Mining Tax Act

Section 32 Disposition versions

2021-12-10

32. An operator that sustains an annual loss in a fiscal year may claim, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, an amount as a refundable duties credit for losses which must not exceed

(1)  for a fiscal year that ends before 31 March 2010, 12% of the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of the following amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, in computing its annual profit for the fiscal year:

i.  the amount that is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses, and provided that such expenses, despite section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, and

ii.  the aggregate of all amounts each of which is the amount by which an amount referred to in subparagraph b.1 of paragraph 1 of section 16.1, as it read on 30 March 2010, that relates to expenses incurred by the operator during the fiscal year and declared by the operator to be deductible expenses, on or before the date provided in subparagraph i, exceeds the amount that is 25% of the government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses;

(2)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010,

ii.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, and

iii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(3)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is not an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(4)  if the operator is an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of;

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph d of subparagraph 2 of the second paragraph of section 8,

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8,

ii.1.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.0.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph g.1 of subparagraph 2 of the second paragraph of section 8,

iii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph h of subparagraph 2 of the second paragraph of section 8,

iv.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph i of subparagraph 2 of the second paragraph of section 8, and

v.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.6 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph j of subparagraph 2 of the second paragraph of section 8; and

(5)  if the operator is not an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8,

ii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph h of subparagraph 2 of the second paragraph of section 8,

iii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph i of subparagraph 2 of the second paragraph of section 8, and

iv.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.6 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph j of subparagraph 2 of the second paragraph of section 8.

For the purpose of determining the amount of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 1 of the first paragraph, of the expenses referred to in subparagraphs i to iii of subparagraph b of subparagraph 2 of that paragraph, of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 3 of that paragraph, of the expenses referred to in subparagraphs i to v of subparagraph b of subparagraph 4 of that paragraph and of the expenses referred to in subparagraphs i to iv of subparagraph b of subparagraph 5 of that paragraph that were incurred by an operator for a fiscal year, the following rules apply:

(1)  the amount of the expenses is to be reduced by the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to the expenses; and

(2)  despite section 16.14, the expenses incurred by the operator in the fiscal year may be included in the expenses referred to in those subparagraphs only if the operator declares them as such to the Minister on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year.

For the purposes of subparagraph i of subparagraph b of subparagraph 1 of the first paragraph, “exploration”, “mine deposit evaluation”, “mine development”, “mineral deposit”, “mining operation” and “orebody” have the meaning assigned by section 1, as it read on 30 March 2010.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32; 1999, c. 83, s. 17; 2011, c. 6, s. 61; 2015, c. 21, s. 76; 2019, c. 14, s. 51; 2020, c. 16, s. 21; 2021, c. 36, s. 48.

2020-09-24

32. An operator that sustains an annual loss in a fiscal year may claim, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, an amount as a refundable duties credit for losses which must not exceed

(1)  for a fiscal year that ends before 31 March 2010, 12% of the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of the following amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, in computing its annual profit for the fiscal year:

i.  the amount that is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses, and provided that such expenses, despite section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, and

ii.  the aggregate of all amounts each of which is the amount by which an amount referred to in subparagraph b.1 of paragraph 1 of section 16.1, as it read on 30 March 2010, that relates to expenses incurred by the operator during the fiscal year and declared by the operator to be deductible expenses, on or before the date provided in subparagraph i, exceeds the amount that is 25% of the government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses;

(2)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010,

ii.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, and

iii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(3)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is not an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(4)  if the operator is an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of;

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph d of subparagraph 2 of the second paragraph of section 8,

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8;

iii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph h of subparagraph 2 of the second paragraph of section 8,

iv.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph i of subparagraph 2 of the second paragraph of section 8; and

v.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.6 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph j of subparagraph 2 of the second paragraph of section 8; and

(5)  if the operator is not an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8;

ii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph h of subparagraph 2 of the second paragraph of section 8,

iii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph i of subparagraph 2 of the second paragraph of section 8; and

iv.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.6 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph j of subparagraph 2 of the second paragraph of section 8.

For the purpose of determining the amount of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 1 of the first paragraph, of the expenses referred to in subparagraphs i to iii of subparagraph b of subparagraph 2 of that paragraph, of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 3 of that paragraph, of the expenses referred to in subparagraphs i to v of subparagraph b of subparagraph 4 of that paragraph and of the expenses referred to in subparagraphs i to iv of subparagraph b of subparagraph 5 of that paragraph that were incurred by an operator for a fiscal year, the following rules apply:

(1)  the amount of the expenses is to be reduced by the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to the expenses; and

(2)  despite section 16.14, the expenses incurred by the operator in the fiscal year may be included in the expenses referred to in those subparagraphs only if the operator declares them as such to the Minister on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year.

For the purposes of subparagraph i of subparagraph b of subparagraph 1 of the first paragraph, “exploration”, “mine deposit evaluation”, “mine development”, “mineral deposit”, “mining operation” and “orebody” have the meaning assigned by section 1, as it read on 30 March 2010.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32; 1999, c. 83, s. 17; 2011, c. 6, s. 61; 2015, c. 21, s. 76; 2019, c. 14, s. 51; 2020, c. 16, s. 21.

2019-06-19

32. An operator that sustains an annual loss in a fiscal year may claim, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, an amount as a refundable duties credit for losses which must not exceed

(1)  for a fiscal year that ends before 31 March 2010, 12% of the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of the following amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, in computing its annual profit for the fiscal year:

i.  the amount that is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses, and provided that such expenses, despite section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, and

ii.  the aggregate of all amounts each of which is the amount by which an amount referred to in subparagraph b.1 of paragraph 1 of section 16.1, as it read on 30 March 2010, that relates to expenses incurred by the operator during the fiscal year and declared by the operator to be deductible expenses, on or before the date provided in subparagraph i, exceeds the amount that is 25% of the government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses;

(2)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010,

ii.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, and

iii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(3)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is not an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(4)  if the operator is an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of;

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph d of subparagraph 2 of the second paragraph of section 8,

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8;

iii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph h of subparagraph 2 of the second paragraph of section 8, and

iv.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph i of subparagraph 2 of the second paragraph of section 8; and

(5)  if the operator is not an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8,

ii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.2 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph h of subparagraph 2 of the second paragraph of section 8, and

iii.  the aggregate of all amounts each of which is the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.13.4 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph i of subparagraph 2 of the second paragraph of section 8.

For the purpose of determining the amount of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 1 of the first paragraph, of the expenses referred to in subparagraphs i to iii of subparagraph b of subparagraph 2 of that paragraph, of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 3 of that paragraph, of the expenses referred to in subparagraphs i to iv of subparagraph b of subparagraph 4 of that paragraph and of the expenses referred to in subparagraphs i to iii of subparagraph b of subparagraph 5 of that paragraph that were incurred by an operator for a fiscal year, the following rules apply:

(1)  the amount of the expenses is to be reduced by the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to the expenses; and

(2)  despite section 16.14, the expenses incurred by the operator in the fiscal year may be included in the expenses referred to in those subparagraphs only if the operator declares them as such to the Minister on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year.

For the purposes of subparagraph i of subparagraph b of subparagraph 1 of the first paragraph, “exploration”, “mine deposit evaluation”, “mine development”, “mineral deposit”, “mining operation” and “orebody” have the meaning assigned by section 1, as it read on 30 March 2010.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32; 1999, c. 83, s. 17; 2011, c. 6, s. 61; 2015, c. 21, s. 76; 2019, c. 14, s. 51.

2015-10-21

32. An operator that sustains an annual loss in a fiscal year may claim, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, an amount as a refundable duties credit for losses which must not exceed

(1)  for a fiscal year that ends before 31 March 2010, 12% of the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of the following amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, in computing its annual profit for the fiscal year:

i.  the amount that is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses, and provided that such expenses, despite section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, and

ii.  the aggregate of all amounts each of which is the amount by which an amount referred to in subparagraph b.1 of paragraph 1 of section 16.1, as it read on 30 March 2010, that relates to expenses incurred by the operator during the fiscal year and declared by the operator to be deductible expenses, on or before the date provided in subparagraph i, exceeds the amount that is 25% of the government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses;

(2)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010,

ii.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, and

iii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(3)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is not an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(4)  if the operator is an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of;

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph d of subparagraph 2 of the second paragraph of section 8, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8; and

(5)  if the operator is not an eligible operator, the amount obtained by multiplying, for a fiscal year that begins after 30 March 2010 but before 1 January 2014, its tax rate for that fiscal year and, for a fiscal year that begins after 31 December 2013, 16% by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8.

For the purpose of determining the amount of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 1 of the first paragraph, of the expenses referred to in subparagraphs i to iii of subparagraph b of subparagraph 2 of that paragraph, of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraphs 3 and 4 of that paragraph and of the expenses referred to in subparagraph b of subparagraph 5 of that paragraph that were incurred by an operator for a fiscal year, the following rules apply:

(1)  the amount of the expenses is to be reduced by the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to the expenses; and

(2)  despite section 16.14, the expenses incurred by the operator in the fiscal year may be included in the expenses referred to in those subparagraphs only if the operator declares them as such to the Minister on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year.

For the purposes of subparagraph i of subparagraph b of subparagraph 1 of the first paragraph, “exploration”, “mine deposit evaluation”, “mine development”, “mineral deposit”, “mining operation” and “orebody” have the meaning assigned by section 1, as it read on 30 March 2010.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32; 1999, c. 83, s. 17; 2011, c. 6, s. 61; 2015, c. 21, s. 76.

2011-06-06

32. An operator that sustains an annual loss in a fiscal year may claim, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, an amount as a credit on duties refundable for losses which must not exceed

(1)  for a fiscal year that ends before 31 March 2010, 12% of the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of the following amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, in computing its annual profit for the fiscal year:

i.  the amount that is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses, and provided that such expenses, despite section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year, and

ii.  the aggregate of all amounts each of which is the amount by which an amount referred to in subparagraph b.1 of paragraph 1 of section 16.1, as it read on 30 March 2010, that relates to expenses incurred by the operator during the fiscal year and declared by the operator to be deductible expenses, on or before the date provided in subparagraph i, exceeds the amount that is 25% of the government assistance that the operator received or was entitled to receive for the fiscal year and that relates to those expenses;

(2)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010,

ii.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.1 of paragraph 2 of section 8, as it read on 30 March 2010, and

iii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(3)  for a fiscal year that ends after 30 March 2010 and includes that date, if the operator is not an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  the expenses referred to in subparagraph b of subparagraph 1 of the second paragraph of section 16.1 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e of paragraph 2 of section 8, as it read on 30 March 2010, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph e.2 of paragraph 2 of section 8, as it read on 30 March 2010;

(4)  for a fiscal year that begins after 30 March 2010, if the operator is an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the aggregate of

i.  50% of the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.9 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph d of subparagraph 2 of the second paragraph of section 8, and

ii.  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8; and

(5)  for a fiscal year that begins after 30 March 2010, if the operator is not an eligible operator, the amount obtained by multiplying its tax rate for the fiscal year by the lesser of

(a)  its adjusted annual loss for the fiscal year, and

(b)  the amount of the expenses referred to in subparagraph a of subparagraph 1 of the second paragraph of section 16.11 that were incurred by the operator for the fiscal year, without exceeding the amount deducted by the operator for the fiscal year under subparagraph f of subparagraph 2 of the second paragraph of section 8.

For the purpose of determining the amount of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraph 1 of the first paragraph, of the expenses referred to in subparagraphs i to iii of subparagraph b of subparagraph 2 of that paragraph, of the expenses referred to in subparagraphs i and ii of subparagraph b of subparagraphs 3 and 4 of that paragraph and of the expenses referred to in subparagraph b of subparagraph 5 of that paragraph that were incurred by an operator for a fiscal year, the following rules apply:

(1)  the amount of the expenses is to be reduced by the amount of government assistance that the operator received or was entitled to receive for the fiscal year and that relates to the expenses; and

(2)  despite section 16.14, the expenses incurred by the operator in the fiscal year may be included in the expenses referred to in those subparagraphs only if the operator declares them as such to the Minister on or before the date on or before which the operator is required to file its return under section 36 for the fiscal year.

For the purposes of subparagraph i of subparagraph b of subparagraph 1 of the first paragraph, “exploration”, “mine deposit evaluation”, “mine development”, “mineral deposit”, “mining operation” and “orebody” have the meaning assigned by section 1, as it read on 30 March 2010.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32; 1999, c. 83, s. 17; 2011, c. 6, s. 61.

1999-12-20

32. An operator who sustains an annual loss in a fiscal year may claim, on or before the date on or before which he is required to file his return under section 36 for that fiscal year, an amount as a credit on duties refundable for losses which shall not exceed

(1)  for a fiscal year ending before 13 May 1994, 18% of the lesser of

(a)  the annual loss for that fiscal year; and

(b)  the aggregate of

i.  subject to paragraph c of section 27, as it read before 13 May 1994, the total of the amounts each of which is an amount deducted for that fiscal year, under paragraph m or n of section 8, as it read before 13 May 1994, as mining exploration and development expenses incurred after 23 April 1985 by an operator for work carried out in Québec, except expenses incurred for work carried out in respect of the mining of surface mineral substances, as defined in section 1 of the Mining Act (chapter M-13.1), and the mining of mineral substances the rights in or over which have been surrendered to the owner of the soil as provided in section 5 of that Act; and

ii.  the amount deducted by the operator for that fiscal year in respect of property actually used by him in Québec, as a depreciation allowance under paragraph o of section 8, as it read before 13 May 1994, from which amount shall be deducted the part thereof relating to property acquired before 24 April 1985;

(2)  for a fiscal year ending after 12 May 1994, 12% of the lesser of

(a)  the adjusted annual loss for that fiscal year; and

(b)  the total of the following amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8 in computing the operator’s annual profit for that fiscal year :

i.  the amount that is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for that fiscal year and that relates to those expenses, and provided that such expenses, notwithstanding section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which the operator is required to file the operator’s return, in accordance with section 36, for that fiscal year, and

ii.  the total of all amounts each of which is the amount by which an amount referred to in subparagraph b.1 of paragraph 1 of section 16.1 that relates to expenses incurred by the operator during that fiscal year and declared by the operator to be deductible expenses, on or before the date provided in subparagraph i, exceeds the amount that is 25% of the government assistance that the operator received or was entitled to receive for that fiscal year and that relates to those expenses.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32; 1999, c. 83, s. 17.

1994-12-21

32. An operator who sustains an annual loss in a fiscal year may claim, on or before the date on or before which he is required to file his return under section 36 for that fiscal year, an amount as a credit on duties refundable for losses which shall not exceed

(1)  for a fiscal year ending before 13 May 1994, 18 % of the lesser of

(a)  the annual loss for that fiscal year; and

(b)  the aggregate of

i.  subject to paragraph c of section 27, as it read before 13 May 1994, the total of the amounts each of which is an amount deducted for that fiscal year, under paragraph m or n of section 8, as it read before 13 May 1994, as mining exploration and development expenses incurred after 23 April 1985 by an operator for work carried out in Québec, except expenses incurred for work carried out in respect of the mining of surface mineral substances, as defined in section 1 of the Mining Act (chapter M-13.1), and the mining of mineral substances the rights in or over which have been surrendered to the owner of the soil as provided in section 5 of that Act; and

ii.  the amount deducted by the operator for that fiscal year in respect of property actually used by him in Québec, as a depreciation allowance under paragraph o of section 8, as it read before 13 May 1994, from which amount shall be deducted the part thereof relating to property acquired before 24 April 1985;

(2)  for a fiscal year ending after 12 May 1994, 12 % of the lesser of

(a)  the adjusted annual loss for that fiscal year; and

(b)  the total of the amounts, without however exceeding the amount deducted by the operator under subparagraph e of paragraph 2 of section 8 in computing his annual profit for that fiscal year, each of which is the amount by which the expenses in respect of exploration, mineral deposit evaluation and mine development work, incurred by the operator for the fiscal year in connection with mining operation, exceeds the amount of government assistance that the operator received or was entitled to receive for that fiscal year and that relates to those expenses, and provided that such expenses, notwithstanding section 16.2, have been declared by the operator to be deductible expenses, on or before the date on or before which he is required to file his return, in accordance with section 36, for that fiscal year.

1975, c. 30, s. 32; 1985, c. 39, s. 6; 1994, c. 47, s. 32.

1985-12-19

32. An operator who sustains an annual loss in a fiscal year may claim, as a refundable credit on duties, an amount equal to the lesser of 18% of

(a)  the annual loss, and

(b)  the allowable amount.

1975, c. 30, s. 32; 1985, c. 39, s. 6.

1977-12-31

32. Notwithstanding section 30, where several operators have been related to each other at any time during a fiscal year, the total duties payable by them for the fiscal year ending in the same calendar year shall be computed on the aggregate annual profit of each of such operators, less a single exemption referred to in section 30, and the duties payable by each shall be the proportion of such total duties that his annual profit is of the aggregate annual profit of such operators.

Nevertheless, if before the expiry of the delay for filing his return under section 36, each of such operators sends to the office of the Minister an agreement respecting the apportionment among them of their total profit for the purposes of computing the duties, the total duties payable shall be apportioned according to such agreement.

1975, c. 30, s. 32.