Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
| |
March 29, 1990 |
| TO - EDMONTON DISTRICT OFFICE |
FROM - HEAD OFFICE |
| Bob Kisinger |
Resource Industries Section |
| Chief of Business and Basic Files |
G.R. White |
| |
(613) 957-8585 |
| Robert Mah |
| Business Audit Section |
File No. 7-4476 |
SUBJECT: Resource Allowance and Class 29 Classification
We are writing in reply to your memorandum dated October 27, 1989 24(1) . Your questions and our responses thereto are as follows:
(1) Are the joint venture participants entitled to claim resource allowance?
24(1)
Accordingly, we advise that the joint venture participants do not have resource profits as defined in Regulation 1204 and as a result do not meet the requirements for the deduction described in paragraph 20(1)(v.1) of the Act and Regulation 1210.
Paragraph 3 of IT-492 defines an industrial mineral as a non-metallic mineral capable of being used in industry, and the word mineral has its ordinary meaning of any chemical or compound occurring naturally as a product of organic processes.
24(1)
(2) Is the joint venture involved in processing activities to qualify the plant for inclusion under Class 29?
EMR has informed us 24(1) . In view of this statement, we believe the better view is that the joint venture is engaged in the manufacturing or processing of goods for sale and that the plant would be eligible for inclusion in Class 29.
Enclosed herewith, is a copy of EMR's letter to us for your records.
J.T. GauvreauSection ChiefResource Industries SectionBilingual Services and Resource Industries DivisionRulings Directorate
All rights reserved. Permission is granted to electronically copy and to print in hard copy for internal use only. No part of this information may be reproduced, modified, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or stored in a retrieval system for any purpose other than noted above (including sales), without prior written permission of Canada Revenue Agency, Ottawa, Ontario K1A 0L5
© Her Majesty the Queen in Right of Canada, 1990
Tous droits réservés. Il est permis de copier sous forme électronique ou d'imprimer pour un usage interne seulement. Toutefois, il est interdit de reproduire, de modifier, de transmettre ou de redistributer de l'information, sous quelque forme ou par quelque moyen que ce soit, de facon électronique, méchanique, photocopies ou autre, ou par stockage dans des systèmes d'extraction ou pour tout usage autre que ceux susmentionnés (incluant pour fin commerciale), sans l'autorisation écrite préalable de l'Agence du revenu du Canada, Ottawa, Ontario K1A 0L5.
© Sa Majesté la Reine du Chef du Canada, 1990
Email this Content