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Newfoundland and Labrador
Regulation 2018


NEWFOUNDLAND AND LABRADOR REGULATION 89/18

NEWFOUNDLAND AND LABRADOR
REGULATION 89/18

Revenue Administration Regulations (Amendment)
under the
Revenue Administration Act
(O.C. 2018-201)

(Filed October 4, 2018)

Under the authority of sections of 107, 110 and 113 of the Revenue Administration Act, the Lieutenant-Governor in Council makes the following regulations.

Dated at St. John’s, October 3, 2018.

Ann Marie Hann
Clerk of the Executive Council

REGULATIONS

Analysis


        1.   S.60 Amdt.
Depreciation expenses

        2.   S.61 Amdt.
Processing allowance

        3.   S.61.1 Amdt.
Operating expenses

        4.   Commencement


NLR 73/11
as amended

        1. Subsection 60(1.2) of the Revenue Administration Regulations is repealed and the following substituted:

         (1.2)  Where an asset referred to in subsection (1) is used to mine, process or smelt both ore originating inside and outside the province, the depreciation expense referred to in subsection (1) shall be reduced by the proportion that the asset is used by a taxpayer in processing or smelting ore from outside the province as compared to the total use of the asset during a year.

 

        2. Subsection 61(3) of the regulations is repealed and the following substituted:

             (3)  For the purpose of subsection (1) where a processing asset or smelting asset referred to in that subsection is used to process or smelt both ore originating inside and outside the province, the processing allowance referred to in subsection (1) shall be reduced by the proportion that the asset is used by a taxpayer in processing or smelting ore from outside the province as compared to the total use of the asset during a year.

 

        3. Subsection 61.1(3) of the regulations is repealed and the following substituted:                    

             (3)  Where mining operations, processing or smelting activity by a taxpayer relates to ore originating both inside and outside the province, the operating expenses referred to in subsection (1) and section 82 of the Act shall be reduced by the proportion that the taxpayer processes or smelts ore from outside the province as compared to the total ore processed or smelted in the province by a taxpayer during the year.

 

        4. These regulations are considered to have come into force on November 3, 2015.