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Income Tax Regulations

Version of section 1210.1 from 2004-08-31 to 2007-01-31:


 For the purpose of paragraph 12(1)(z.5) of the Act, a taxpayer’s prescribed resource loss for a taxation year is the amount determined by the formula

A - B

where

A
is the total of all amounts each of which is a Canadian exploration and development overhead expense made or incurred by the taxpayer in the year, other than an amount included therein because of subsection 21(2) or (4) of the Act, and
B
is the taxpayer’s adjusted resource profits for the year (as defined by subsection 1210(2)).
  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  •  SOR/99-179, s. 9
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