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I-0.4 - Mining Tax Act

Section 32.0.1
Disposition versions

Full text
32.0.1. For the purposes of subparagraph a of subparagraphs 1 to 5 of the first paragraph of section 32, the adjusted annual loss of an operator for a fiscal year is equal to the amount by which the annual loss sustained by the operator for the fiscal year exceeds the lesser of
(1)  the amount determined under section 20.1 or 21 for the fiscal year, as if that section were read without reference to subparagraph 2 of its first paragraph; and
(2)  the amount of the annual loss sustained by the operator for the fiscal year multiplied by
(a)  if the fiscal year ends before 31 March 2010, 65%,
(b)  if the fiscal year ends after 30 March 2010 and includes that date, the total of the following rates:
i.  65% multiplied by the proportion that the number of days in the fiscal year that precede 31 March 2010 is of the number of days in the fiscal year, and
ii.  55% multiplied by the proportion that the number of days in the fiscal year that follow 30 March 2010 is of the number of days in the fiscal year,
(c)  if the fiscal year begins after 30 March 2010 but before 1 January 2014, 55%, or
(d)  if the fiscal year begins after 31 December 2013, 75%.
1994, c. 47, s. 33; 2011, c. 6, s. 61; 2015, c. 21, s. 77.
32.0.1. For the purposes of subparagraph a of subparagraphs 1 to 5 of the first paragraph of section 32, the adjusted annual loss of an operator for a fiscal year is equal to the amount by which the annual loss sustained by the operator for the fiscal year exceeds the lesser of
(1)  the amount determined under section 21 for the fiscal year, as if that section were read without reference to its paragraph 2; and
(2)  the amount of the annual loss sustained by the operator for the fiscal year multiplied by
(a)  if the fiscal year ends before 31 March 2010, 65%,
(b)  if the fiscal year ends after 30 March 2010 and includes that date, the total of the following rates:
i.  65% multiplied by the proportion that the number of days in the fiscal year that precede 31 March 2010 is of the number of days in the fiscal year, and
ii.  55% multiplied by the proportion that the number of days in the fiscal year that follow 30 March 2010 is of the number of days in the fiscal year, or
(c)  if the fiscal year begins after 30 March 2010, 55%.
1994, c. 47, s. 33; 2011, c. 6, s. 61.
32.0.1. For the purposes of subparagraph a of paragraph 2 of section 32, the adjusted annual loss of an operator for a fiscal year is the amount by which the annual loss, for that fiscal year, exceeds the lesser of
(1)  the amount determined under section 21 for that fiscal year, as if the said section were read without reference to paragraph 2 thereof; and
(2)  65% of the annual loss sustained by the operator for that fiscal year.
1994, c. 47, s. 33.
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