Consolidation Period: From December 14, 2017 to the e-Laws currency date .
Last amendment: 2017, c. 34, Sched. 25 .
1 (1) In this Act,
“assessment” includes a reassessment; (“cotisation”)
“associated corporations” has the meaning given to that expression by section 256 of the Income Tax Act (Canada); (“sociétés associées”)
“Deputy Minister” means the Deputy Minister of Finance; (“sous-ministre”)
“exploration and development expenditures” means any outlay or expense made or incurred that is,
(a) for the purpose of determining the existence, location, extent or quality of a mineral substance in Ontario,
(b) for the purpose of bringing a mine in Ontario into production,
(c) for the purpose of developing a mine in Ontario after the mine comes into production, including sinking or constructing a mine shaft, mine haulage way or similar underground work designed for continuing use, and any extension thereof, or
(d) any outlay or expense referred to in clause (a), (b) or (c) made or incurred pursuant to an agreement whereby the outlay or expense represents consideration for the acquisition of,
(i) interest in a mine or in a right to mine a property, or
(ii) shares of the capital stock of a corporation or any interest in or right to acquire such shares,
but, for greater certainty, shall not include,
(e) any consideration given for any mine, right to mine a property or any share or interest therein or right thereto, except as provided by clause (d), or
(f) any outlay or expense described in clause (d) to the extent that the outlay or expense was, by virtue of that clause, an exploration and development expenditure of another operator; (“frais d’exploration et d’aménagement”)
“fair market value” means the amount that could be expected to be realized on a sale in the open market by a willing seller to a willing buyer; (“juste valeur marchande”)
“hedging” means the fixing of a price for output of a mine before delivery by means of a forward sale or a futures contract on a recognized commodity exchange, or the purchase or sale forward of a foreign currency related directly to the proceeds of the output of a mine, but does not include speculative currency hedging except to the extent that the hedging transaction determines the final price and proceeds for the output; (“couverture”)
“mine” means any opening in the ground, any working of the ground and any tailings source from or by which any mineral substance is taken, and comprises the mining claim, mining location and the whole parcel of land in which any such tailings source does or did exist or such workings are or have been carried on in Ontario; (“mine”)
“mineral substance” means every type and kind of ore, rock, mineral and tailings, whether organic or inorganic, but does not include diatomaceous earth, limestone, marl, peat, clay, building stone, stone for ornamental or decorative purposes, non-auriferous sand or gravel, or natural gas or petroleum, or sodium chloride recovered by solution method; (“substance minérale”)
“mining assets” means the plant, equipment, machinery and buildings acquired for the purpose of the extraction of mineral substances from the ground and ancillary activities, but does not include processing assets or social assets; (“actif minier”)
“Minister” means the Minister of Finance; (“ministre”)
“Ministry” means the Ministry of Finance; (“ministère”)
(a) a person who has the right to work a mine and win mineral substances therefrom, personally or through agents or employees or together with one or more other persons, and
(b) a person who has the right to receive a share of the proceeds or the profits of a mine or who has an interest in a mine, whether as a member of a joint venture, as a member of a partnership, or as a beneficiary of a trust that has the right to work the mine and win mineral substances therefrom, but does not include any person whose only right or interest is the right to receive royalties; (“exploitant”)
(a) the mineral substances raised, taken or obtained from any mine in Ontario, if those mineral substances are sold as such, or
(b) the product of a processing operation, where the mineral substances are raised, taken or gained from any mine in Ontario, if the processed product is sold; (“production”)
“proceeds” means the total consideration that is received or is receivable from another person or persons, in any currency, whether in cash or non-cash form, from the output of the mine, including all by-products sold, or the amount determined in the prescribed manner, and all consideration received or receivable from hedging and future sales or forward sales of the output of the mine, converted at the date of receipt of the consideration to the equivalent in Canadian funds or, if applicable, the operator’s elected functional currency as defined in subsection 6.1 (1), if receivable in funds of another country; (“recettes”)
“processing” means, with respect to mineral substances, any form of beneficiation, concentrating, smelting, refining, fabricating of metallic mineral substances, manufacturing of non-metallic mineral substances and any combination thereof; (“traitement”)
“processing assets” means processing plants, machinery, equipment and structures acquired for the purpose of processing mineral substances and ancillary activities, but does not include,
(a) the value of spare parts held in inventory for such assets,
(b) stockpiles or inventories of processed mineral substances,
(c) assets used for the transportation of processed mineral substances to market, or
(d) mining assets or social assets; (“actif servant au traitement”)
“social asset” means a tangible asset owned by an operator that is incidental to mining and processing operations and that relates directly to the provision of housing, recreational or service facilities, if the asset,
(a) is necessary to attract or retain employees, and
(b) is available for the use of all employees; (“élément d’actif social”)
“remote mine” means a mine that is certified under section 4 as a remote mine; (“mine éloignée”)
“stone for ornamental or decorative purposes”,
(a) does not include diamonds for taxation years ending before March 23, 2007, and
(b) includes diamonds for taxation years ending after March 22, 2007; (“pierre servant à des fins ornementales ou décoratives”)
“taxation year” means the period for which the accounts of the operator of a mine are ordinarily made up and accepted for the purposes of assessment under this Act, and any change in a usual and accepted taxation year shall, for the purposes of this Act, be made only with the approval of the Minister, but no taxation year shall be for a period greater than fifty-three consecutive weeks; (“année d’imposition”) R.S.O. 1990, c. M.15, s. 1 (1); 1994, c. 18, s. 6 (1-4); 2000, c. 42, s. 70; 2001, c. 23, s. 150; 2004, c. 16, Sched. D, Table; 2007, c. 7, Sched. 23, s. 1; 2011, c. 9, Sched. 24, s. 1.
(2) For the purposes of this Act, in the determination of whether two or more persons are not dealing at arm’s length, section 251 of the Income Tax Act (Canada) applies with necessary modifications. R.S.O. 1990, c. M.15, s. 1 (2).
Amount of tax payable
(3) The amount of the tax payable by an operator for a taxation year under this Act is the amount of tax as assessed or reassessed by the Minister, subject to variation on any objection or appeal under this Act. 1994, c. 18, s. 6 (5).
Corporations Tax Act references
(4) Any reference to the Corporations Tax Act in this Act shall be deemed to be a reference to that Act as it applied to corporations for taxation years under that Act ending on or before December 31, 2008. 2008, c. 19, Sched. V, s. 5.
Section Amendments with date in force (d/m/y)
1994, c. 18, s. 6 (1-5) - 23/06/1994
2000, c. 42, s. 70 - 07/05/1996
2001, c. 23, s. 150 - 05/12/2001
2004, c. 16, Sched. D, Table - 01/01/2004
2007, c. 7, Sched. 23, s. 1 - 17/05/2007
2008, c. 19, Sched. V, s. 5 - 01/01/2009
2011, c. 9, Sched. 24, s. 1 - 12/05/2011
Calculation and time of tax payments
When taxes accrue
2 (1) The tax payable under this Act by an operator for a taxation year shall be deemed to accrue proportionately during the taxation year. R.S.O. 1990, c. M.15, s. 2 (1).
Payment of taxes
(2) Every operator liable to pay tax under this Act for a taxation year shall pay the tax by monthly instalments during the taxation year with the balance of the tax, if any, payable not later than two months after the end of the taxation year. R.S.O. 1990, c. M.15, s. 2 (2).
Amount of instalments
(3) The amount of each monthly instalment payable under this section for the taxation year is the lesser of,
(a) the amount of tax payable by the operator for the taxation year divided by the number of months commencing in the taxation year; or
(b) the amount of tax payable by the operator for the taxation year ending immediately before the taxation year for which the instalment is being calculated, divided by the number of months commencing in that immediately preceding taxation year. R.S.O. 1990, c. M.15, s. 2 (3).
Instalments after amalgamation
(4) If the taxation year of an operator is the first taxation year after an amalgamation within the meaning of section 87 of the Income Tax Act (Canada), the amount of each monthly instalment payable under this section for the taxation year is the lesser of,
(a) the amount determined under clause (3) (a); or
(b) the aggregate of all amounts each of which is the amount of tax payable by a predecessor corporation of the operator, within the meaning of section 87 of the Income Tax Act (Canada), for its last taxation year divided by the number of months commencing in the year. R.S.O. 1990, c. M.15, s. 2 (4); 2004, c. 16, Sched. D, Table.