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"Point in Time" Regulation Content

Mineral Tax Act

Mineral Tax Costs and Expenditures Regulation

B.C. Reg. 405/89

NOTE: Links below go to reg content as it was prior to the changes made on the effective date. (PIT covers changes made from September 19, 2009 to present)
SECTIONEFFECTIVE DATE
Section 2 January 1, 1990
[retro from November 24, 2014]
Section 5 May 25, 2015
May 13, 2019
Schedule December 1, 2015

 Section 2 (1) (t) BEFORE amended by BC Reg 210/2014, effective January 1, 1990 [retro from November 24, 2014].

(t) costs or losses on hedging transactions,

 Section 5 (1) (a) BEFORE amended by 85/2015, effective May 25, 2015.

(a) were incurred by the operator for the purpose of earning gross revenue from the operation of a mine that meets one of the following criteria:

(i) the mine is located on a property from which minerals had not previously been produced in reasonable commercial quantities and began producing minerals in reasonable commercial quantities after December 31, 1994 and before January 1, 2016;

(ii) the mine was, before January 1, 1995 a closed or abandoned mine within the meaning of the Mines Act and began producing minerals in reasonable commercial quantities after December 31, 1994 and before January 1, 2016;

(iii) the mine had ceased operations and had laid off substantially all of its operating work force before January 1, 1995 and began producing minerals in reasonable commercial quantities after December 31, 1994 and before January 1, 2016;

(iv) the mine was expanded after December 31, 1994 and before January 1, 2016 to the extent that the greatest designed capacity, measured in tonnes of input of ore, of the mill that processed the ore from the mine was not less than 25% greater in the fiscal year of the mine immediately following the expansion than it was in the fiscal year of the mine immediately preceding the expansion,

 Section 5 (1) (a) (i) to (iv) BEFORE amended by BC Reg 101/2019, effective May 13, 2019.

(i) the mine is located on a property from which minerals had not previously been produced in reasonable commercial quantities and began producing minerals in reasonable commercial quantities after December 31, 1994 and before January 1, 2020;

(ii) the mine was, before January 1, 1995 a closed or abandoned mine within the meaning of the Mines Act and began producing minerals in reasonable commercial quantities after December 31, 1994 and before January 1, 2020;

(iii) the mine had ceased operations and had laid off substantially all of its operating work force before January 1, 1995 and began producing minerals in reasonable commercial quantities after December 31, 1994 and before January 1, 2020;

(iv) the mine was expanded after December 31, 1994 and before January 1, 2020 to the extent that the greatest designed capacity, measured in tonnes of input of ore, of the mill that processed the ore from the mine was not less than 25% greater in the fiscal year of the mine immediately following the expansion than it was in the fiscal year of the mine immediately preceding the expansion,

 Schedule BEFORE amended by BC Reg 187/2015, effective December 1, 2015.

Schedule

[en. B.C. Reg. 300/2002.]

Election to Allocate Exploration Expenses

Name of operator..............................................................................................................................................................
Fiscal year end of mine....................................................................................................................................................
Mine file number..............................................................................................................................................................
Calculation of amount available for allocation:
Ending balance of the operator's exploration account return for the accounting year: $.............................................
Add: Exploration expenditures incurred during the allocation year of the mine and after the operator's accounting year:...........................................
Subtotal:$............................................
Less: Amount of above subtotal allocated to other mines:(............................................)
Total exploration expenditures available for allocation to the mine:$.............................................
Election statement:
The operator hereby elects under section 4 of the Mineral Tax Costs and Expenditures Regulation to the Mineral Tax Act to allocate $................ of exploration expenditures to the ............ [name of mine] .................................. mine.
 ................................
(Date) 
 ..........................................................................................
(Authorized Signature)
 ..............................................
(Title)