Acts and Regulations

M-11.01 - Metallic Minerals Tax Act

Section 1
Disposition versions

Full text
Definitions and interpretation
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“Commissioner” means the Commissioner as defined in the Revenue Administration Act;(Commissaire)
“Court of Appeal” means The Court of Appeal of New Brunswick, and includes any judge of that court;(Cour d’appel)
“Court of King’s Bench” means The Court of King’s Bench of New Brunswick, and includes any judge of that court;(Cour du Banc du Roi)
“Court of Queen’s Bench” Repealed: 2023, c.17, s.156
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Natural Resources and Energy Development under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” Repealed: 2010, c.1, s.1
“Minister” means the Minister of Finance and Treasury Board;(Ministre)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(production)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“tax” means the tax imposed under this Act;(impôt)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“taxpayer” means a person who is required by this Act to pay a tax;(contribuable)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1; 2010, c.1, s.1; 2016, c.37, s.106; 2019, c.29, s.88; 2019, c.29, s.187; 2023, c.17, s.156
Definitions and interpretation
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“Commissioner” means the Commissioner as defined in the Revenue Administration Act;(Commissaire)
“Court of Appeal” means The Court of Appeal of New Brunswick, and includes any judge of that court;(Cour d’appel)
“Court of Queen’s Bench” means The Court of Queen’s Bench of New Brunswick, and includes any judge of that court;(Cour du Banc de la Reine)
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Natural Resources and Energy Development under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” Repealed: 2010, c.1, s.1
“Minister” means the Minister of Finance and Treasury Board;(Ministre)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(production)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“tax” means the tax imposed under this Act;(impôt)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“taxpayer” means a person who is required by this Act to pay a tax;(contribuable)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1; 2010, c.1, s.1; 2016, c.37, s.106; 2019, c.29, s.88; 2019, c.29, s.187
Definitions
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“Commissioner” means the Commissioner as defined in the Revenue Administration Act;(Commissaire)
“Court of Appeal” means The Court of Appeal of New Brunswick, and includes any judge of that court;(Cour d’appel)
“Court of Queen’s Bench” means The Court of Queen’s Bench of New Brunswick, and includes any judge of that court;(Cour du Banc de la Reine)
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Energy and Resource Development under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” Repealed: 2010, c.1, s.1
“Minister” means the Minister of Finance;(Minister)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(production)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“tax” means the tax imposed under this Act;(impôt)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“taxpayer” means a person who is required by this Act to pay a tax;(contribuable)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
Valuation of depreciable assets
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
Valuation of depreciable assets
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1; 2010, c.1, s.1; 2016, c.37, s.106
Definitions
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“Commissioner” means the Commissioner as defined in the Revenue Administration Act;(Commissaire)
“Court of Appeal” means The Court of Appeal of New Brunswick, and includes any judge of that court;(Cour d’appel)
“Court of Queen’s Bench” means The Court of Queen’s Bench of New Brunswick, and includes any judge of that court;(Cour du Banc de la Reine)
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Natural Resources under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” Repealed: 2010, c.1, s.1
“Minister” means the Minister of Finance;(Minister)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(production)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“tax” means the tax imposed under this Act;(impôt)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“taxpayer” means a person who is required by this Act to pay a tax;(contribuable)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
Valuation of depreciable assets
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
Valuation of depreciable assets
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1; 2010, c.1, s.1
Definitions
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“Commissioner” means the Commissioner as defined in the Revenue Administration Act;(Commissaire)
“Court of Appeal” means The Court of Appeal of New Brunswick, and includes any judge of that court;(Cour d’appel)
“Court of Queen’s Bench” means The Court of Queen’s Bench of New Brunswick, and includes any judge of that court;(Cour du Banc de la Reine)
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Natural Resources under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” Repealed: 2010, c.1, s.1
“Minister” means the Minister of Finance;(Minister)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(production)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“tax” means the tax imposed under this Act;(impôt)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“taxpayer” means a person who is required by this Act to pay a tax;(contribuable)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
Valuation of depreciable assets
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
Valuation of depreciable assets
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1; 2010, c.1, s.1
Definitions
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Natural Resources under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” means the tax payable under this Act;(impôt minier)
“Minister” means the Minister of Finance;(Minister)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(production)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
Valuation of depreciable assets
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
Valuation of depreciable assets
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1
Definitions
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“date of commencement of production” means the day determined by the mine assessor, from information provided by the Minister of Natural Resources under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” means the tax payable under this Act;(impôt minier)
“Minister” means the Minister of Finance;(Minister)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(produit)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
Valuation of depreciable assets
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
Valuation of depreciable assets
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37; 2007, c.17, s.1
Definitions
1(1)In this Act
“arm’s length” means arm’s length within the meaning of the Income Tax Act (Canada);(lien de dépendance)
“date of commencement of production” means the day determined by the mine assessor, from information supplied to the Minister under the Mining Act, as the first day of the three month period throughout which the mine operates, during each month of the three-month period, at sixty per cent or more of its planned capacity;(date du début de la production)
“depreciable assets” means, subject to subsection (2) and (3), the assets resulting from(biens amortissables)
(a) the preproduction development costs in respect of a mine,
(b) the aggregate expenditures for the purchase and installation of mining, milling, smelting, refining and power plant and equipment in the Province essential to the production of the output of a mine in the Province,
(c) those expenditures prescribed by regulation, and
(d) any other expenditures that, in the opinion of the mine assessor, are fair and reasonable expenditures that are related to the production of the output of a mine in the Province and that are not deducted under paragraphs 2.1(6)(b), (d) and (d.1),
but does not include expenditures made for the purchase of, or in acquiring an option to purchase, mining properties;
“director” Repealed: 1985, c.M-14.1, s.133
“eligible exploration expenditures” means expenditures on actual exploration for new mineral ore in the Province for work, as defined by regulation, if(dépenses d’exploration admissibles)
(a) such expenditures are borne by the person subject to taxation under this Act,
(b) separate accounts of such expenditures are kept,
(c) a detailed analysis of such expenditures is submitted with the statement required under section 8, and
(d) any expenditures so allowed are not a part of the depreciable assets of a mine,
but excludes sums paid in the purchase, or acquisition of an option to purchase, mineral rights;
“eligible process research expenditures” means the actual costs incurred after the date of commencement of production of any research approved by the mine assessor prior to being undertaken that has as its objective the recovery of additional mineral products;(dépenses de recherches techniques admissibles)
“gross income” means(revenu brut)
(a) the amount received or receivable in the taxation year for the sale or exchange of the output of the mine,
(b) the amount received or receivable in the taxation year from hedging, and
(b.1) for the purpose of calculating net profit, the amount received in the taxation year under paragraph 111.2(5)(b) of the Mining Act,
less
(c) the actual and proper costs incurred as a result of hedging, and
(d) any smelter or further processing charges for mineral ore
(i) processed outside the Province by persons other than the operator,
(ii) processed outside the Province by the operator or by persons who, in the opinion of the Minister, are associates of the operator if, in the opinion of the Minister, the smelter or further processing charges are fair and reasonable, or
(iii) processed within the Province by persons other than
(A) the operator,
(B) a subsidiary of the operator, or
(C) persons who, in the opinion of the Minister, are associated with the operator;
“hedging” means(opération de courverture)
(a) the fixing of a price before delivery for a mineral commodity produced by the operator by means of a forward sale or a futures contract on a recognized commodity exchange, or
(b) the purchase or forward sale of a foreign currency related directly to the proceeds of the sale of the processed mineral product
but does not include speculative currency hedging except to the extent that the transactions referred to in paragraphs (a) or (b) determine the final price and proceeds for the processed mineral product;
“metallic mineral” means any natural solid inorganic substance but does not include coal, bituminous shale, limestone, granite, slate, marble or other quarriable stone, gypsum, shale, salt, potash, clay, marl, gravel or sands or such other minerals the Lieutenant-Governor in Council may designate;(minéral métallique)
“mine” includes any work or undertaking in which mineral ore is extracted or produced, including a quarry;(mine)
“mineral” means a metallic mineral;(minéral)
“mineral ore” includes unprocessed minerals or mineral bearing substances;(minerai)
“mine assessor” means the mine assessor provided for under this Act, and any other person directed by the Minister to perform any duty or exercise any power or authority required by this Act to be performed or exercised by a mine assessor;(répartiteur minier)
“mining operations” means the extraction or production of mineral ore from or in any mine or its transportation to, or any part of the distance to the point of egress from the mine including any processing thereof prior to or in the course of such transportation and the sale or exchange of the output of the mine but not including any processing thereof after removal from the mine;(opérations miniéres)
“mining right” means a mining or mineral claim, a mining licence or lease or a right granted under the Ownership of Minerals Act, section 25 of the Mining Act or any predecessor of that section or in a Crown grant;(droit minier)
“mining tax” means the tax payable under this Act;(impôt minier)
“Minister” means the Minister of Natural Resources;(Ministre)
“net income” Repealed: 1977, c.33, s.1
“net profit” means the net profit as calculated under subsections 2.1(6), (7), (7.01), (7.1), (8) and (9);(profit net)
“net revenue” means the net revenue as calculated under subsection 2.1(5), (7), (7.01), (7.1), (8) and (9);(recettes nettes)
“new mine” includes a mine where mining operations are recommenced after a ten year period of discontinuance;(nouvelle mine)
“new mineral ore” means mineral ore, the existence of which is possible, but does not include proven mineral ore or probable mineral ore;(nouveau minerai)
“operator” means where used in relation to any mine a person who is the owner, lessee, tenant, holder or other occupier of the mine, or any part thereof; but does not include a person who merely receives a royalty or rent from a mine or is merely the proprietor of a mine that is subject to a lease, grant, or licence, to another person for the working thereof, or who is merely the owner of the soil and has no right or title to the minerals of the mine;(exploitant)
“original cost” of an asset means the original cost to the operator, a subsidiary of the operator or persons who, in the opinion of the Minister, are associated with the operator, without deducting amounts in respect of government grants associated with the acquisition of the asset;(prix initial)
“output” means the minerals taken or gained from the mine, and the mineral products derived from the processing of those minerals;(produit)
“person” includes corporation, company, syndicate, trust, firm, partnership, co-owners, or party and the heirs, executors, administrators, successors, assigns or other legal representative of such person if the context applies;(personne)
“preproduction development costs” means the aggregate expenses incurred by the operator of a mine, other than those claimed as eligible exploration expenditures, on the mining right from the date of acquiring the mining right to the date of commencement of production;(frais de mise en valeur engagés avant la production)
“probable mineral ore” means mineral ore, the existence of which is for all essential purposes assured but not absolutely certain;(minerai probable)
“proven mineral ore” means mineral ore that is so completely exposed that its existence as to tonnes and tenor is essentially certain;(minerai reconnu)
“taxation year” means the fiscal period, not exceeding twelve months, for which the accounts of the business of a taxpayer have been or are ordinarily made up and accepted for purposes of assessment under this Act, and in the absence of such an established practice the fiscal period shall be that adopted by the taxpayer, but no change in a usual and accepted fiscal period may be made for the purpose of this Act without concurrence of the Minister;(année d’imposition)
“undepreciated depreciable assets” means those depreciable assets in respect of which the original cost exceeds the aggregate of allowances that have been deducted under paragraph 2.1(6)(g) in respect of those assets.(biens amortissables non amortis)
Valuation of depreciable assets
1(2)In the case of a mine that has been in production prior to April 1, 1982, the value of the undepreciated depreciable assets as of April 1, 1982, for the purposes of paragraph 2.1(6)(g), shall be the value as of March 31, 1982, as accepted by the mine assessor.
Valuation of depreciable assets
1(3)Where depreciable assets are acquired in a non-arm’s length transaction, the original cost to be placed on such assets shall be deemed not to exceed the depreciated value of those assets as shown on the books of the previous owner except that, if the previous owner was not subject to this Act, the original cost shall be the fair market value, as determined by the mine assessor, at the time of the transaction.
1954, c.10, s.1; 1955, c.27, s.1; 1957, c.20, s.2-6; 1969, c.54, s.1; 1977, c.33, s.1; 1981, c.46, s.2; 1982, c.39, s.1; 1985, c.M-14.1, s.133; 1986, c.8, s.74; 1987, c.35, s.1; 2001, c.11, s.1; 2002, c.31, s.1; 2004, c.20, s.37