What payments do you have to declare?

If you are subject to the Act, you must declare monetary payments or payments in kind that meet the following criteria:

  • they are in relation to exploration for or development of mineral substances or hydrocarbons;
  • they fall within any of the following categories:
    • taxes and income tax, other than consumption taxes and personal income taxes;
    • royalties;
    • fees, including rental fees, entry fees, regulatory charges and any other consideration for licences, permits or concessions;
    • production entitlements;
    • dividends other than those paid as an ordinary shareholder;
    • bonuses, including signature, discovery and production bonuses;
    • contributions for infrastructure construction or improvement.
  • they were made to a payee such as a government, a body established by two or more governments, a municipality or any body that exercises, or is established to exercise, powers or duties of government for a payee;
  • they were made during any fiscal year beginning on or after October 22, 2015;
  • and the total amount paid in the same fiscal year to the same payee for the same category of payment is equal to or greater than $100,000.
  • Exception: You are not required to declare a payment made before June 1, 2017 to any of the following payees:
    • the Kativik Regional Government;
    • a Native nation represented by all the band councils, or councils in the case of northern villages, of the communities forming the Native nation, the Makivik Corporation, the Cree Nation Government, a Native community represented by its band council, a group of communities so represented or, in the absence of such councils, any other Native group;
    • a body established by at least two Native groups;
    • any body that exercises, or is established to exercise, powers or duties of government for such payees.

When and to whom do you have to declare these payments?

You must file a statement with the AMF within 150 days following the end of the fiscal year in which any of the above payments were made.

End of the insight

What is the form of the statement and how to transmit it?

The statement must be in the form provided in Schedule 1 to the Regulation (pdf - 176 KB)This link will open in a new windowUpdated on August 28, 2017.

The statement must be accompanied by one of the following documents:

  • a certificate signed by an officer or director of the entity subject to the Act to the effect that the information contained in the statement is true, accurate and complete in every major respect for the purposes of the Act;
  • a report from an independent auditor, prepared in accordance with generally accepted auditing standards in Canada, expressing an unaltered opinion to the effect that the entity subject to the Act has complied with every significant aspect of the Act’s provisions.

Substitution of the statement

Substitution of the statement A statement filed in compliance with the requirements of a competent authority whose rules have been designated in the Regulation as acceptable may be substituted for the statement required by the Act. The substitution may be made on the condition that the statement and the certificate or independent auditor’s report, as the case may be, are filed with the AMF via SEDAR+.

The statement and, as the case may be, the accompanying certificate or independent auditor’s report must be filed with the AMF in electronic form (PDF) using the System for Electronic Data Analysis and Retrieval Plus This link will open in a new window (SEDAR+).

Please note that the AMF maintains a register of entities that have been filed statements under the Act.