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.
COST AMOUNT OF CANADIAN RESOURCE PROPERTY
QUESTION 28
The term "cost amount" is defined for the purposes of the Income Tax Act at subsection 248(1) thereof. The definition makes no reference to Canadian or foreign resource properties. In Revenue Canada's view, how is the cost amount of a Canadian or foreign resource property to be determined?
DEPARTMENT'S POSITION
Our views with regard to the "cost amount" of Canadian resource property, which also apply to foreign resource property, remain as indicated in our response to a similar question at the 1992 CPTS roundtable.
CPTS June 17, 1993
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© Her Majesty the Queen in Right of Canada, 1993
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© Sa Majesté la Reine du Chef du Canada, 1993
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