Acts and Regulations

88-97 - General

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NEW BRUNSWICK
REGULATION 88-97
under the
Metallic Minerals Tax Act
(O.C. 88-345)
Filed April 29, 1988
Under section 32 of the Metallic Minerals Tax Act, the Lieutenant-Governor in Council makes the following Regulation:
1This Regulation may be cited as the General Regulation - Metallic Minerals Tax Act.
2In this Regulation
“Act” means the Metallic Minerals Tax Act.
3For purposes of the definition “depreciable assets” in subsection 1(1) of the Act, expenditures include the following:
(a) mine shafts;
(b) main ventilation shafts, main haulageways and other such underground passages designed for continual use or any extension of such a passage sunk or constructed after the mine came into production;
(c) housing used by the operator or an employee of the operator for a purpose related to operating the mine;
(d) rail spur lines used for a purpose related to the mining operations;
(e) wharfs and docks and their associated infrastructure used for a purpose related to the mining operations;
(f) dams and similar structures intended to protect the environment;
(g) utility connection costs; and
(h) access roads used for a purpose related to the mining operations.
4For purposes of the definition “eligible exploration expenditures” in subsection 1(1) of the Act, “work” includes the following activities if the activities are performed during actual exploration for new mineral occurrences and if the activities do not otherwise qualify as preproduction development expenses or as actual and proper working expenses of a mine:
(a) establishing grid lines;
(b) trenching, stripping and excavating pits;
(c) general prospecting;
(d) shaft sinking, tunnelling and other underground activities performed solely to gain knowledge about the nature, size, shape, position, characteristics and value of the mineral occurrence;
(e) geological, geophysical and geochemical surveys;
(f) drilling, where core or cuttings are taken and logged or analyzed, excepting drilling of drainage holes, pilot holes, ventilation holes, backfill holes and holes used to grout fractured rock;
(g) geophysical logging of drill holes;
(h) logging of drill core or cuttings;
(i) sample collection including bulk sampling, analyses and assays;
(j) metallurgical and beneficiation studies;
(k) petrographic, petrologic and mineralographic studies;
(l) photogeologic and remote imagery interpretations;
(m) boundary or control surveys and topographic mapping;
(n) protection, reclamation and rehabilitation of the environment;
(o) preparation of feasibility study reports and technical progress reports in compliance with the Mining Act and regulations under the Mining Act; and
(p) transporting drill core to a core storage facility provided by the Minister;
but does not include the following activities:
(q) work related to mining for the purpose of the production of a mineral; and
(r) required work performed in order to keep in good standing a mineral claim staked or a mining lease granted under the Mining Act.
5Amounts deducted under subsection 2.1(9) of the Act shall be fair and reasonable and shall not exceed market value.
N.B. This Regulation is consolidated to June 30, 1988.