Petroleum and Gas Revenue Tax Act — P-12 2
, whichever is applicable; ( reversement ) petroleum means crude oil or heavy oil recovered from a natural reservoir in Canada and any liquid or solid hydrocarbon recovered from a bituminous sands, oil sands or oil shale deposit in Canada; ( pétrole ) production revenue means petroleum and gas production revenue within the meaning of section 5; ( revenu de production ) production royalty means an amount computed by reference to the amount or value of production after December 31, 1981 of petroleum or gas, including any minimum or advance royalty payment with respect to the amount or value of production, but does not include (a) a resource royalty, or (b) an amount to which paragraph 7(e) applies paid to a person referred to therein; ( redevance de production ) resource royalty means an amount, other than an amount to which paragraph 7(e) applies paid to a person referred to therein, computed by reference to the amount or value of production (a) after December 31, 1980 and before January 1, 1982, of petroleum or gas, including any minimum or advance royalty payment with respect to the amount or value of production, or (b) after December 31, 1981, of petroleum or gas, including any minimum or advance royalty payment with respect to the amount or value of such production, but not including an amount computed by reference to the amount or value of such production of petroleum or gas where (i) the recipient of the amount so computed would have a Crown royalty in respect of (A) such production, or (B) the ownership of property to which such production relates where the Crown royalty is computed by reference to an amount of production from the property if the definition Crown royalty were read without reference to a taxation year and if the determination of the amount of the Crown royalty under that definition were made only in respect of such production or such ownership, or (ii) the recipient of the amount so computed would, but for an exemption or allowance, other than a rate of nil, that is provided by statute by a person referred to in paragraph 7(e), have a Crown royalty determined pursuant to subparagraph (i); ( redevance pétrolière ) synthetic production means the production of petroleum from a mine in a bituminous sands deposit; ( production par synthèse ) synthetic production revenue means that portion of production revenue that is derived from synthetic production; ( revenu de production par synthèse ) taxable incremental oil revenue [Repealed, R.S., 1985, c. 2 (2nd Supp.), s. 1] taxation year of a person means (a) the taxation year of that person as determined for the purposes of the Income Tax Act , (b) where that person has no taxation year referred to in paragraph (a), the period for which his accounts have been ordinarily made up for the purposes of assessment under this Act, or (c) where neither paragraph (a) nor (b) applies in respect of the person, such taxation year as may be adopted by the person, but in no case shall a taxation year exceed fifty-three weeks. ( année d’imposition ) Other words and expressions (2) All words and expressions used in this Act and not otherwise defined have, with such modifications as the circumstances require, the same meanings as in the Income Tax Act . Trusts (3) A trust shall, for the purposes of this Act, and without affecting the liability of the trustee or legal representative for his own tax under this Act, be deemed to be, in respect of the trust property, an individual. Changes in taxation year (4) No change in the taxation year of a person shall be made for the purposes of this Act unless the Minister consents in writing to the change. Interpreting tax imposed (5) For greater certainty and notwithstanding anything in any other Act of Parliament or anything approved, made or declared to have the force of law thereunder, a tax imposed under this Act shall, for all purposes, be deemed not to be an income or profits tax, a surtax or an excess profits tax. Associated corporation