I-0.4 - Mining Tax Act

Article 10.11 Versions de la disposition

2015-10-21

10.11. Subject to section 9.1.1, the amount that an operator may deduct, under subparagraph b of subparagraph 2 of the second paragraph of section 8.1.1, in respect of class 4A property as a depreciation allowance in computing the mine-mouth output value in respect of a mine it operates, for a fiscal year, must not exceed the portion, reasonably attributable to the operation of the mine, of the lesser of

1°  the amount obtained by multiplying the undepreciated capital cost of the property of that class at the end of the fiscal year before any deduction under that subparagraph b at the end of the fiscal year, by 30%; and

2°  where the operator no longer owns property of that class at the end of the fiscal year, zero.

Despite the first paragraph, an operator may deduct an amount as a depreciation allowance in respect of class 4A property in computing the mine-mouth output value in respect of a mine it operates, for a fiscal year, only if it deducts the maximum amount as a depreciation allowance in respect of class 1A property, class 2A property and class 3A property in computing the mine-mouth output value in respect of the mine, for the fiscal year.

2015, c. 21, s. 61.