I-0.4 - Mining Tax Act

Section 16 Disposition versions

2011-06-06

16. The amount that an operator may deduct as an exploration, mineral deposit evaluation and mine development allowance in respect of expenses incurred before 31 March 2010 in computing its annual profit for a fiscal year under subparagraph c of subparagraph 2 of the second paragraph of section 8 must not exceed its cumulative exploration, mineral deposit evaluation and mine development expenses at the end of that fiscal year.

1975, c. 30, s. 16; 1994, c. 47, s. 16; 2011, c. 6, s. 37.

1994-12-21

16. The amount that an operator may deduct as an exploration, mineral deposit evaluation and mine development allowance in computing his annual profit for a fiscal year under subparagraph e of paragraph 2 of section 8 shall not exceed the cumulative exploration, mineral deposit evaluation and mine development expenses at the end of that fiscal year.

1975, c. 30, s. 16; 1994, c. 47, s. 16.

1977-12-31

16. An operator may deduct as development allowance, for each fiscal year, an amount not exceeding the aggregate of the expenses contemplated in paragraphs m and n of section 8 incurred during a previous fiscal year that have not been deducted from the gross value of the output for that previous fiscal year, until those expenses have been wholly allowed.

However, expenses incurred before 1 January 1965 shall not be included in an allowance under this section.

1975, c. 30, s. 16.