33 King Street West PO Box 627 Oshawa ON L1H 8H5
Enquiries
Toll Free: 1 866 ONT-TAXS (1 866 668-8297)
Teletypewriter (TTY): 1 800 263-7776
Fax: 1 866 888-3850
Website: ontario.ca/finance
Mining Tax Act
Name of Operator Identification Number Taxation Year End (mm/dd/yyyy) Name of Mine Location of Mine
Information used in this form applies to an eligible new Remote Mine and a Remote Mine as provided in s3.2 and s3.8 of the Mining Tax Act. This form may also be used to compute the profit or loss from a Remote Mine.
The mining tax exemption is subject to a 120-month maximum claim period for profits earned after May 7, 1996 with a $10,000,000 limitation per mine.
Separate schedules are required for each qualifying new Remote Mine and each Remote Mine showing the calculation of profits earned in the current taxation year.
Total proceeds applicable to the eligible New Remote Mine or Remote Mine $
Mining expenses $ Processing expenses $ Operating or maintenance expenses re social assets in Ontario $ Administrative and overhead expenses $ Scientific/Product use development research conducted in Canada $ Allowance for Depreciation: • Mining Assets - Maximum $ • Processing and Transportation Assets - Maximum $ Transportation expenses and outlays re delivery of output to purchasers $ Other reserves and deductions as prescribed by Regulation $ Sub Total $ Less: Reduction in processing costs per s.3(21)(a) & (b) (attach calculation) $ Sub Total $ Donations (charitable, educational or benevolent) $ Exploration and development expenditures incurred in respect of remote mine $ Sub Total $ Less: Recaptured depreciation - • Mining Assets $ • Processing and Transportation Assets $ Sub Total $
Profit (loss) before processing allowance $ Less: Processing allowance applicable to the eligible mine (attach calculation) $ Profit otherwise eligible for the Mining Tax Exemption or Subject to Tax $ (A) Unused portion of operator’s exempt amount for profits earned after May 7, 1996 for mine $ (B) Profit eligible for the Mining Tax Exemption • for profits earned after May 7, 1996, amount cannot exceed the lesser of (A) and (B) $