Contents
6 OVERVIEW OF THE CANADIAN TAX REGIME
6 Mining Activities
6 Forms of Organization
7 Income Taxation
8 Capital Gains
8 Utilization of Losses
9 Tax Administration
9 Filing Requirements and Tax Payments
9 Corporations
9 Individuals
9 Trusts
10 Partnerships
10 Federal Requirements
10 Québec Requirements
11 Joint Ventures
11 Functional Currency Tax Reporting
2 INTRODUCTION
2 Canada’s Mining Industry
3 The Tax Environment
5 About This Book
12 DEDUCTIONS, ALLOWANCES, AND CREDITS
12 Canadian Exploration Expenses
13 Canadian Development Expenses
14 Canadian Oil and Gas Property Expenses
14 Foreign Resource Expenses
14 Successor Corporation Rules
15 Original Owner
15 Successor
15 Predecessor Owner
© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
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A Guide to Canadian Mining Taxation