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.
QUESTION
7. A mineral deposit of a taxpayer has been certified by Energy Mines and Resources Canada (EMR) as a "mineral resource" pursuant to subparagraph (d)(i) of the definition of mineral resource in subsection 248(1) of the Act. The taxpayer subsequently sells the property including the mineral deposit to another taxpayer. Would the mineral deposit also be a mineral resource of the new owner?
ANSWER
7. It is our view that a mineral deposit that has been certified as a mineral resource by EMR under the definition of mineral resource in subsection 248(1) of the Act would not cease to be a mineral resource solely by virtue of the change of ownership of the mineral deposit.
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© Her Majesty the Queen in Right of Canada, 1991
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© Sa Majesté la Reine du Chef du Canada, 1991
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