Income Tax Act — I-3.3 66
of which depends on its mineral resource content other than where the mineral resource is a bituminous sands deposit or an oil shale deposit, (g) any right to or interest in — or, for civil law, any right to or in — any property described in any of paragraphs (a) to (e), other than a right or an interest that the taxpayer has because the taxpayer is a beneficiary under a trust or a member of a partnership, or (h) an interest in real property described in paragraph (f) or a real right in an immovable described in that paragraph, other than an interest or a right that the taxpayer has because the taxpayer is a beneficiary under a trust or a member of a partnership; ( avoir minier canadien ) drilling or exploration expense incurred on or in respect of exploring or drilling for petroleum or natural gas includes any expense incurred on or in respect of (a) drilling or converting a well for the disposal of waste liquids from a petroleum or natural gas well, (b) drilling for water or gas for injection into a petroleum or natural gas formation, or (c) drilling or converting a well for the injection of water or gas to assist in the recovery of petroleum or natural gas from another well; ( frais d’exploration ou de forage ) expense , incurred before a particular time by a taxpayer, (a) includes an amount designated by the taxpayer at that time under paragraph 98(3)(d) or (5)(d) of the Income Tax Act , chapter 148 of the Revised Statutes of Canada, 1952, as a cost in respect of property that is a Canadian resource property or a foreign resource property, but (b) for greater certainty, does not include any amount paid or payable (i) as consideration for services to be rendered after that time, or (ii) as, on account or in lieu of payment of, or in satisfaction of, rent in respect of a period after that time; ( dépenses ) flow-through share means a share (other than a prescribed share) of the capital stock of a principal-business corporation, or a right (other than a prescribed right) to acquire a share of the capital stock of a principal-business corporation, issued to a person under an agreement in writing made between the person and the corporation under which the corporation, for consideration that does not include property to be exchanged or transferred by the person under the agreement in circumstances to which any of sections 51, 85, 85.1, 86 and 87 applies, agrees (a) to incur, in the period that begins on the day on which the agreement was made and ends 24 months after the month that includes that day, Canadian exploration expenses or Canadian development expenses in an amount not less than the consideration for which the share or right is to be issued, and (b) to renounce, in prescribed form and before March of the first calendar year that begins after that period, to the person in respect of the share or right, an amount in respect of the Canadian exploration expenses or Canadian development expenses so incurred by it not exceeding the consideration received by the corporation for the share or right; ( action accréditive ) foreign exploration and development expenses incurred by a taxpayer means (a) any drilling or exploration expense, including any general geological or geophysical expense, incurred by the taxpayer after 1971 on or in respect of exploring or drilling for petroleum or natural gas outside Canada, (b) any expense incurred by the taxpayer for the purpose of determining the existence, location, extent or quality of a mineral resource outside Canada, including any expense incurred in the course of (i) prospecting, (ii) carrying out geological, geophysical or geochemical surveys, (iii) drilling by rotary, diamond, percussion or other method, or (iv) trenching, digging test pits and preliminary sampling, (c) the cost to the taxpayer of any foreign resource property acquired by him, (d) subject to section 66.8, the taxpayer’s share of the foreign exploration and development expenses incurred after 1971 by a partnership