Regulation 1211 - Prescribed Amounts

Administrative Policy

94 C.P.T.J. - Q.23

RC currently uses the provincial "well spacing" restrictions to distinguish between producing and non-producing portions of an oil and gas lease.

93 C.R. - Q.23

Where a Crown lease rental that otherwise qualifies as a prescribed amount in accordance with Regulation 1211(d) is prepaid for a five-year period, the amount of the prepayment that relates to each year of the prepaid period will be considered to be the amount that "became payable" during that year.

Tax Topics