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I-3 - Taxation Act

Section 392.1
Disposition versions

Full text
392.1. A taxpayer shall, in computing his cumulative Canadian oil and gas property expense, deduct under paragraph c of section 418.6 the amount which, at a particular time, becomes receivable by him from a person with whom he has entered into an agreement to unitize an oil or gas field in Canada in respect of Canadian oil and gas property expense incurred by the taxpayer in respect of that field or any part thereof.
Furthermore, the person who must pay such amount shall, in computing his Canadian oil and gas property expense, include it at that time under paragraph a of section 418.2.
1982, c. 5, s. 88.
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