Resource Deduction (courtesy translation)
CO-400-T

Form CO-400 must be filed by any corporation that, in a given taxation year, is claiming one of the following deductions on one of lines 150a through 150l of form CO-17.A.1, Revenu net fiscal:

  • the deduction for Canadian exploration expenses;
  • the deduction for Canadian oil and gas property expenses (including the amount for accelerated Canadian oil and gas property expenses);
  • the deduction for Canadian development expenses (including the amount for accelerated Canadian development expenses);
  • the depletion allowance for natural resources;
  • the deduction for foreign resource expenses;
  • the deduction for foreign exploration and development expenses (including the deduction for specified foreign expenses).

A corporation must also file form CO-400 if amounts were added to or subtracted from its balance of cumulative expenses (including the earned depletion balance) that can give entitlement to one of these deductions at the beginning of the taxation year.

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End of note

2021-02 version

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