CCOGPE definition

CCOGPE means cumulative Canadian oil and gas property expense, as defined in the Tax Act;
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Examples of CCOGPE in a sentence

  • In most cases the CCOGPE (Cumulative Canadian Oil and Gas Property Expense) pool is relevant only if you have an opening balance.

  • The CCOGPE pool will be negative if the subtractions from the pool exceed the additions to the pool.

  • Profound's Tax Pools on a consolidated basis were not less than $200.8 million in the aggregate as at December 31, 2008, comprised approximately as follows: $66.1 million CCEE $55.7 million CCDE $21.1 million CCOGPE $38.6 million UCC $15.1 million Non-Capital Losses $4.2 million Financing Expenses and Profound has no reason to believe that its Tax Pools on a consolidated basis were materially less on the date hereof than as set forth above.

  • For example, if Mr. A's CCOGPE pool had an opening balance of $25,000, the CCOGPE pool would be in a credit balance of $75,000, computed as follows: Opening Balance + Rights to Royalties - Proceeds of Disposition = Closing Balance‌‌ $25,000 + $300,000 - $100,000 - $300,000 = ($75,000).

  • The term CCOGPE is defined in subsection 66.4(5) of the Act.‌ In addition, the proceeds of disposition of the CRP (i.e. the rights to explore for, drill for or take the oil & gas) were subtracted from the CCOGPE pool under variable F.

  • If Mr. A's CCOGPE pool is negative in respect of a taxation year, the excess is deducted from his Cumulative Canadian Development Expense ("CCDE") pool under variable L.

  • As such, in this example, the net adjustment to the CCOGPE pool will be equal to the amount of the upfront bonus payment of $100,000.‌‌‌ Since Mr. A has disposed of TCP, he is taxable under subsection 2(3) of the Act.

  • Mr. A may deduct such amounts as are relevant in computing his income from the business for the taxation year, including any amount not exceeding 10% of the balance of the CCOGPE pool existing at the end of the taxation year pursuant to subsection 66.4(2) of the Act.‌‌‌‌‌ Under paragraph 805(a) of the Regulations, the oil & gas royalties paid to Mr. A are not taxable under Part XIII of the Act if the royalties are reasonably attributable to a business carried on by him through a PE in Canada (footnote 2) .

  • Since the $300,000 is both added and subtracted from the CCOGPE pool, in effect, a formal valuation of the right is not required.

  • With these programs in place, the ultimate goal of accreditation has become much easier to attain.

Related to CCOGPE

  • GP means Gottbetter & Partners, LLP.

  • Distribution Company means a distribution company as defined in Section 1 of Chapter 164 of the Massachusetts General Laws.3

  • Production company means a person or entity engaged in the business of making motion picture, television, or radio images for theatrical, commercial, advertising, or education purposes; Reserved

  • MLP has the meaning given such term in the introduction to this Agreement.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • CMP means Construction Management Plan;

  • BCP means BCP Asset Management Limited and its successors, assigns and transferees.

  • CW means current City of Winnipeg Standard Construction Specification;

  • ESMP means an environmental and social management plan (including any pest management plan), acceptable to the Association and consistent with the ESMF, adopted for the purposes of a Micro-project, and giving details of the magnitude of the environmental impacts, as well as the specific actions, measures and policies designed to facilitate the achievement of the objective of the ESMF under the Micro-project, including the budget and cost estimates, and sources of funding, along with the institutional and procedural measures needed to implement such actions, measures and policies, as such ESMP may be amended form time to time with the prior written agreement of the Association.

  • GP LLC means Plains All American GP LLC, a Delaware limited liability company.

  • Renewable Energy Certificates or “RECs” shall mean all of the Certificates and any and all other Environmental Attributes associated with the Products or otherwise produced by the Facility which conform with the eligibility criteria set forth in the applicable Rhode Island regulations and are eligible to satisfy the Renewable Energy Standard, and shall represent title to and claim over all Environmental Attributes associated with the specified MWh of generation from such Newly Developed Renewable Energy Resource.

  • Renewable energy means the grid quality electricity generated from renewable energy sources;

  • Atlas means Automated Transportation Logistics Activity System. ATLAS is a computerized information system to which all Shippers have access upon request. ATLAS enables Shippers to nominate and release product and to monitor and coordinate the movement of Petroleum Products while on Carrier's system.

  • PERC means the Washington State Public Employee Relations Commission.

  • Renewable Energy Certificate or "REC" means a certificate

  • Beacon means a highway traffic signal with one or more signal sections that operate in a flashing mode. (ORC 4511.01(KKK))