TheDMAWay

Alberta Update - Should You Receive a Refund for GCA Submissions?

by User Not Found | Jun 09, 2017
DMA_Blog_2017_AlbertaGCAUpdate
Royalty clients receive estimated monthly Gas Cost Allowance (GCA) deductions for the 2016 production year based on the most recent (2015) annual GCA submissions. Beginning on this month's Crown invoice, the information from the AC2, AC3, and AC5 documents is used to calculate the actual GCA credits. The monthly GCA previously received is reconciled with the actual GCA credits which may result in an additional amount owing or a refund.

By conducting a thorough review of your GCA submission, it may be possible to identify additional eligible credits. Significant acquisitions or divestitures can also impact the monthly GCA credits that you should be receiving for the remainder of 2017. It is also possible to reliably estimate the amount owing or owed as a result of your GCA submissions.

For more information about Gas Cost Allowance credits please click here to contact us.