Note: This regulation has been placed in the Regulations Point in Time collection. This regulation is not repealed.
| B.C. Reg. 269/80 O.C. 1489/80 | Filed July 14, 1980 effective July 31, 1979 |
Mining Tax Act
Processing Allowance Formula Regulation
Maximum percentage
1 For the purposes of section 4 (1) (c) of the Mining Tax Act the maximum percentage shall be the lesser of
(a) 70%, or
(b) the figure, expressed as a percentage, obtained by
(i) dividing the original cost to the taxpayer of the manufacturing assets owned by him and used by him during the fiscal year in the manufacture of processed mineral ore into products by the original cost to the taxpayer of the processing assets owned by him and used by him during the fiscal year in the processing of mineral ore,
(ii) multiplying the result by 20,
(iii) adding 50 to that result, and
(iv) dividing the result obtained under subparagraph (iii) by 100, for example:
original cost of manufacturing assets: $1.2 million
original cost of processing assets: $1.6 million
 | 1.2 1.6 | x 20 |  | + 50 | |
| = 0.65 = 65% | |||||
| 100 | |||||
[Provisions of the Mining Tax Act, R.S.B.C. 1996, c. 295, relevant to the enactment of this regulation: section 4 (2)]