I-3 - Taxation Act

Section 395.2 Disposition versions

2015-10-26

395.2. For the purposes of paragraph c.3 of section 395, “eligible oil sands mine development expense” means the aggregate of all amounts each of which is the product obtained by multiplying, by the percentage specified in the second paragraph, an expense (other than an expense that is a specified oil sands mine development expense described in section 395.3) that is incurred by a taxpayer after 21 March 2011 but on or before 31 December 2015 and that would be described in paragraph c.1 of section 395 if that paragraph were read without reference to “and before 21 March 2013” and “, other than a bituminous sands deposit or an oil shale deposit,”.

The percentage to which the first paragraph refers, in relation to an expense, is

(a)  100% if the expense is incurred on or before 31 December 2012;

(b)  80% if the expense is incurred in the calendar year 2013;

(c)  60% if the expense is incurred in the calendar year 2014; and

(d)  30% if the expense is incurred in the calendar year 2015.

2012, c. 8, s. 52; 2015, c. 24, s. 65.

2012-05-09

395.2. For the purposes of paragraph c.3 of section 395, “eligible oil sands mine development expense” means the aggregate of all amounts each of which is the product obtained by multiplying, by the percentage specified in the second paragraph, an expense (other than an expense that is a specified oil sands mine development expense described in section 395.3) that is incurred by a taxpayer after 21 March 2011 but on or before 31 December 2015 and that would be described in paragraph c.1 of section 395 if that paragraph were read without reference to “, other than a bituminous sands deposit or an oil shale deposit,”.

The percentage to which the first paragraph refers, in relation to an expense, is

(a)  100% if the expense is incurred on or before 31 December 2012;

(b)  80% if the expense is incurred in the calendar year 2013;

(c)  60% if the expense is incurred in the calendar year 2014; and

(d)  30% if the expense is incurred in the calendar year 2015.

2012, c. 8, s. 52.