Calculating Instalment Payments Related to the Mining Tax

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You can use form IM-46-V, Calculation of Instalment Payments Related to the Mining Tax, to calculate an operator's instalment payments related to the mining tax.

The following amounts are used in the calculation:

  • the estimated duties payable by the operator for the current fiscal year;
  • the amount of the first instalment payment;
  • the amount of the second instalment payment.

The first instalment payment of an operator corresponds to the duties payable for the first previous fiscal year.

The second instalment payment of an operator corresponds to the duties payable for the second previous fiscal year.

Calculation methods

There are two methods for calculating the amount of the instalment payments related to the mining tax.

Method A

With method A, each of the operator's 12 monthly payments is equal to 1/12 of the lesser of the following amounts:

  • the estimated duties for the current fiscal year;
  • the first instalment payment.

Method B

With method B, each of the operator's first two monthly payments is equal to 1/12 of the amount of the second instalment payment.

Each of the next ten monthly payments is equal to 1/10 of the amount by which the first instalment payment (referred to in method A above) exceeds the total of the monthly payments for the first two months of the fiscal year.

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