Energy, Mines, and Resources

Amending a Royalty Return

Quartz Mining Act, Section 102 – Annual Royalty
Interpretation Bulletin: Amending a Royalty Return
January 26, 2007

A royalty return as filed may be subject to amendment to adjust the revenues and costs to reflect numbers updated since the time of previous filing, specifically where:

  • the royalty return filed was based on good faith estimates of value of output of the mine, and for which actual proceeds have been received or become known, or of treatment charges or costs;
  • the royalty return filed was based on good faith estimates of treatment charges or costs, and for which actual charges or costs have become known;
  • income tax deductions included in the royalty return require adjustment; and
  • corrections are required to be made in any other calculation inputs.

The amended royalty return shall be submitted in the same form as the return previously submitted, with the changes highlighted. 

If amendment of a royalty return subsequent to the payment date results in an increase to the royalty owing, the additional royalty owing shall be immediately due for payment, together with interest at the chartered bank administered prime business rate quoted monthly by the Bank of Canada (series V122495) from the due date of the original royalty payment for the subject year. If an amendment of a royalty return subsequent to the payment date results in a decrease to the royalty owing, the overpayment will be credited to the company’s royalty account.