40‑5 Meaning of valuation point40‑5 Meaning of valuation point

#### 40‑5 Meaning of valuation point Resource is stored on run‑of‑mine stockpile (1) The valuation point for a \*taxable resource is the point just before the resource is removed from the run‑of‑mine stockpile on which it is stored. Resource is not stored on run‑of‑mine stockpile (2) The valuation point for a \*taxable resource that is not stored on a run‑of‑mine stockpile is: (a) if the resource is moved away from the immediate point of extraction to a place, at or adjacent to the point of extraction, where the resource enters the first beneficiation process after extraction—the point at which the resource enters that beneficiation process; or (b) if paragraph (a) does not apply—the point at which the resource is first moved away from the immediate point of extraction. Resource is in gaseous state (3) However, the valuation point for a \*taxable resource that is in a gaseous state at the point mentioned in subsection (2) is the first point at which the gaseous resource exits a wellhead. Exception where supply happens first (4) Despite subsections (1), (2) and (3), the valuation point for a \*taxable resource is instead the point just before the \*initial supply of the resource, if the time the resource is at that point is before the time it would be at the valuation point for the resource under subsection (1), (2) or (3). > Note: Example: If, under an agreement, a resource is supplied to another party when the resource is delivered to the run‑of‑mine stockpile, the valuation point is just before the resource is delivered to the stockpile.