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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department. Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
933205
XXXXXXXXXX A.A. Cameron
(613) 957-8975
Attention: XXXXXXXXXX
November 8, 1993
Dear Sirs:
Re: XXXXXXXXXX Private Placement—Share Purchase Agreements
As requested during our recent telephone conversation, this will confirm that, in our opinion, once a mineral deposit is certified pursuant to paragraph (d)(i) of the definition of "mineral resource" in subsection 248(1) of the Income Tax Act (the "Act"), the deposit would be considered as a mineral resource for purposes of determining a taxpayer's Canadian exploration expenses, notwithstanding that the expenses may have been incurred prior to the date of certification.
The foregoing comments represent our general view. In accordance with paragraph 21 of Information Circular 70-6R2, this opinion does not constitute an advance income tax ruling and consequently is not binding on Revenue Canada, Customs, Excise and Taxation.
If you have any further questions, please contact the writer.
Yours truly, for Director Manufacturing Industries, Partnerships and Trusts Division Rulings Directorate Legislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1993
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, 1993
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