Income Tax Act — I-3.3 66.7
ded as attributable to (A) the amount included in computing its income for the year under paragraph 59(3.2)(c) that may reasonably be regarded as being attributable to the disposition by it in the year or a preceding taxation year of any interest in or right to — or, for civil law, any right in or to — the particular property to the extent that the proceeds have not been included in determining an amount under clause 29(25)(d)(i)(A) of the Income Tax Application Rules , this clause, clause (1)(b)(i)(A) or paragraph (10)(g) for a preceding taxation year, (B) its reserve amount for the year in respect of the original owner and each predecessor owner, if any, of the particular property, or (C) production from the particular property, computed as if no deduction were allowed under section 29 of the Income Tax Application Rules , this section or any of sections 65 to 66.5, exceeds the total of (ii) all other amounts deducted under subsection 29(25) of the Income Tax Application Rules , this subsection and subsections 66.7(1), 66.7(4) and 66.7(5) for the year that can reasonably be regarded as attributable to the part of its income for the year described in subparagraph 66.7(3)(b)(i) in respect of the particular property, and (iii) all amounts added because of subsection 80(13) in computing the amount determined under subparagraph 66.7(3)(b)(i). Successor of Canadian development expense (4) Subject to subsections 66.7(6) and 66.7(7), where after May 6, 1974 a corporation (in this subsection referred to as the “successor”) acquired a particular Canadian resource property (whether by way of a purchase, amalgamation, merger, winding-up or otherwise), there may be deducted by the successor in computing its income for a taxation year an amount not exceeding the total of all amounts each of which is an amount determined in respect of an original owner of the particular property that is the lesser of (a) 30% of the amount, if any, by which (i) the amount, if any, by which (A) the cumulative Canadian development expense of the original owner determined immediately after the disposition of the particular property by the original owner to the extent that it has not been (I) deducted by the original owner or any predecessor owner of the particular property in computing income for any taxation year, (I.1) otherwise deducted in computing the income of the successor for the year, (II) deducted by the successor in computing its income for any preceding taxation year, or (III) designated by the original owner pursuant to subsection 66(14.2) for any taxation year, (B) any amount required to be deducted under paragraph (9)(e) from the cumulative Canadian development expense of the original owner in respect of a predecessor owner of the particular property or the successor, as the case may be, at any time after the disposition of the particular property by the original owner and before the end of the year, exceeds the total of (ii) all amounts each of which is an amount (other than any portion thereof that can reasonably be considered to result in a reduction of the amount otherwise determined under this paragraph in respect of another original owner of a relevant mining property who is not a predecessor owner of a relevant mining property or who became a predecessor owner of a relevant mining property before the original owner became a predecessor owner of a relevant mining property) that became receivable by a predecessor owner of the particular property or the successor in the year or a preceding taxation year and that (A) was included by the predecessor owner or the successor in computing an amount determined under paragraph (a) of the description of F in the definition cumulative Canadian development expense in subsection 66.2(5) at the end of the year, and (B) can reasonably be regarded as attributable to the disposition of a property (in this subparagraph referred to as a “relevant mining property”) that is the particular property or another Ca