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I-3 - Taxation Act

Section 385
Disposition versions

Full text
385. A taxpayer must deduct, in computing Canadian exploration and development expenses, any amount paid to him, before 7 May 1974 in the case of an oil business or before 1 April 1975 in the case of a mining business, as a subsidy, grant or assistance under an Act of Canada, to the extent provided by regulation.
He may however include any amount he pays after 1971 but before 7 May 1974 in the case of an oil business or before 1 April 1975 in the case a mining business, under such an Act of Canada, except interest.
1972, c. 23, s. 352; 1972, c. 26, s. 48; 1975, c. 22, s. 87.
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