An accounting colleague has reported to me on a CRA audit involving a price adjustment clause. The CRA challenged the valuation used for a transfer of property. The taxpayer and the CRA eventually agreed on a valuation that was about…
Price adjustment clauses per CRA
The following is my summary of a presentation on price adjustment clauses (PACs) given by Nicholas Correia, CRA, to the CICBV Annual Conference, June, 2017. My comments and questions are in brackets.