ARCHIVED - 1995 General Income Tax Guide
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ARCHIVED - Line 224 - Exploration and development expenses
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If you invested in a petroleum, natural gas, or mining venture in 1995, but did not participate actively, you can deduct your expenses on this line. If you participated actively, claim your expenses on line 135.
How to claim
- Complete Part V of Schedule 4 using the information which the principals of the venture give you.
- Attach to your return either a copy of the statement that gives details of the deduction or a T5013 slip.
The statements have to identify you as a participant in the venture, show your allocation (the number of units you own, the percentage assigned to you, or your ratio to the total partnership), and give the name and address of the fund.
Renounced resource expenses - If you received a T101 or T102 slip, use the instructions on the back of the slip to calculate your deduction. Attach to your return your slip and a schedule showing how you calculated your deduction.
Depletion allowances - Claim these amounts on line 232.
If you have any questions about these expenses, call the Businesses number at your tax services office. See the telephone listings for "Revenue Canada" in the Government of Canada section of your telephone book.
- Date modified:
- 2002-02-04