I-0.4 - Mining Tax Act

Section 60 Disposition versions

2015-10-21

60. Where an overpayment by an operator is refunded or allocated to another liability, interest shall be paid to the operator on the amount of the overpayment for the period ending on the day of such refund or allocation and commencing on the latest of

(1)  the day on which the overpayment was made following a notice of assessment;

(2)  the forty-sixth day following the day on which the overpayment was made otherwise than following a notice of assessment;

(3)  the forty-sixth day following the day on or before which the return giving rise to the overpayment was required to be filed under section 36;

(4)  the forty-sixth day following the day on which, pursuant to section 36, the operator filed the return giving rise to the overpayment, except where the return was filed on the day on or before which it was required to be filed; and

(5)  where an overpayment is determined for a fiscal year following an application for the amendment of a return filed under section 36, 36.1 or 37 for the fiscal year, the forty-sixth day following the day on which the Minister received the application in writing.

For the purposes of this section, the overpayment referred to in the first paragraph must be reduced by an amount equal to that determined by the Minister as a refundable duties credit for losses.

1975, c. 30, s. 60; 1989, c. 43, s. 6; 1994, c. 47, s. 55; 2015, c. 21, s. 88.

1994-12-21

60. Where an overpayment by an operator is refunded or allocated to another liability, interest shall be paid to the operator on the amount of the overpayment for the period ending on the day of such refund or allocation and commencing on the latest of

(1)  the day on which the overpayment was made following a notice of assessment;

(2)  the forty-sixth day following the day on which the overpayment was made otherwise than following a notice of assessment;

(3)  the forty-sixth day following the day on or before which the return giving rise to the overpayment was required to be filed under section 36;

(4)  the forty-sixth day following the day on which, pursuant to section 36, the operator filed the return giving rise to the overpayment, except where the return was filed on the day on or before which it was required to be filed; and

(5)  where an overpayment is determined for a fiscal year following an application for the amendment of a return filed under section 36, 36.1 or 37 for the fiscal year, the forty-sixth day following the day on which the Minister received the application in writing.

For the purposes of this section, the overpayment referred to in the first paragraph must be reduced by an amount equal to that determined by the Minister as a credit on duties refundable for losses.

1975, c. 30, s. 60; 1989, c. 43, s. 6; 1994, c. 47, s. 55.

1989-06-22

60. Where an overpayment by an operator is refunded or applied to another liability, interest at the rate fixed in accordance with section 50 is paid to him on such excess for the period ending on the day of such refund or application and commencing on the latest of the following dates:

(a)  the day when the overpayment was made;

(b)  the day on or before which the return giving rise to the payment of the duties was required to be filed; or

(c)  the day when the operator filed such return.

However, no interest shall be paid when the amount computed under this section is less than $1.

For the purposes of this section, the overpayment referred to in the first paragraph must be reduced by an amount equal to that determined by the Minister as a credit on duties refundable for losses.

1975, c. 30, s. 60; 1989, c. 43, s. 6.

1977-12-31

60. Where an overpayment by an operator is refunded or applied to another liability, interest at the rate fixed in accordance with section 50 is paid to him on such excess for the period ending on the day of such refund or application and commencing on the latest of the following dates:

(a)  the day when the overpayment was made;

(b)  the day on or before which the return giving rise to the payment of the duties was required to be filed; or

(c)  the day when the operator filed such return.

However, no interest shall be paid when the amount computed under this section is less than $1.

1975, c. 30, s. 60.