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.
Principal Issues: What are the types of expenses that would normally qualify as exploration costs under paragraph (f) of the definition of "Canadian exploration expense" in subsection 66.1(6) in the context of a mining project?
Position: See attached table.
Reasons: See attached table.
February 21, 2019
Gord Parr
Director
Large Business Audit Division
International and Large Business Directorate
International, Large Business and Investigations
Branch |
Income Tax Rulings
Directorate
Kimberley Wharram
(416) 973-3066 |
2019-079679
Mining Expenditure Review Table
Further to our discussions with Industry Specialist Services and Natural Resources Canada, I am attaching a copy of the mining expenditure review table that describes expenditures that would normally qualify as exploration costs under paragraph (f) of the definition of Canadian exploration expense (CEE) in subsection 66.1(6) of the Income Tax Act (Canada). The table is intended as a guide only. The actual treatment of a particular expense incurred by a taxpayer will depend on the facts relevant to the particular situation and, therefore, may differ from that outlined in this table.
Yours truly,
Kimberley J. Wharram
Manager, Resources Section
Reorganizations Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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