Flow-through shares

A development corporation that has agreed to issue flow-through shares and, consequently, to renounce its deduction respecting resource expenses in favour of investors must complete the RL-11 slip.

You must use the RL-11 slip to provide information concerning

• the renunciation of expenses incurred from the date the agreement was entered into to the end of the 24th month following the month in which the agreement was entered into (the renunciation can be made at any time before the end of the month of February of the year following this period);
• the allocation of amounts of assistance it received or was entitled to receive as an agent respecting the expenses mentioned in the previous point; and
• the revision of previously renounced expenses.

Before filing RL-11 slips, you must complete form CO-359.12-T, Renunciation of Expenses or Allocation of Assistance by a Corporation. Then use the data entered on the form to allocate, on RL-11 slips, expenses and assistance to investors.

The RL-11 slip is also used to report share issue expenses renounced by the corporation on form CO-726.4.17.15-V, Summary of the Renunciation of Certain Issue Expenses with Respect to Québec Resources, in favour of an individual (or a partnership whose members include an individual) who holds flow-through shares.

Forms

CO-359.10
Déclaration de renseignements concernant les actions accréditives

CO-726.4.17.15-V
Summary of the Renunciation of Certain Issue Expenses with Respect to Québec Resources

RL-11
Relevé 11 – Actions accréditives

RL-11.G-V
Guide to Filing the RL-11 Slip: Flow-Through Shares