Line 224 - Exploration and development expenses

If you invested in a petroleum, natural gas, or mining venture in 1999, but did not participate actively, you can deduct your expenses on this line. If you participated actively, follow the instructions at line 135.

How to claim

• Complete Part V of Schedule 4 using the information that the principals of the venture give you.
• Attach to your paper return either a T5 or T5013 slip, or a statement that gives details of the deduction.

The statement has to identify you as a participant in the venture, show your allocation (the number of units you own, the percentage assigned to you, or the ratio of your units to those of the whole partnership), and give the name and address of the fund.

If you have a tax shelter, see "Tax shelters" on page 12.

Renounced resource expenses - If you received a T101, T102, or T5013 slip, use the instructions on the back to calculate your deduction. Attach to your paper return your slip and a note showing how you calculated your deduction.

Depletion allowances - Claim these amounts on line 232.

If you have any questions about these expenses, contact the Business Enquiries section of your tax services office. For the address and telephone number, see the listings in the government section of your telephone book.