,canada ,cu/oms                       #a
& ,rev5ue ,ag5cy

          ,9t]pret,n ,bullet9
    
,subject3 ,9come ,tax ,act
  ,price ,adju/;t ,clauses
,numb]3 ,,it-#afi
,date3 ,augu/ #f1 #aigd
,ref];e3 ,sec;n #c 7al sec;n #fi &
  subsec;n #ae7#a77

#a4 ,": prop]ty is transf]r$ 9 a non-
  >m's l5g? transac;n1 ! "pies "s"ts
  9clude a price adju/;t clause 9 !
  cov]+ agree;t4 ,? bullet9 d1ls ) ^?
  agree;ts : /ate t if ! ,de"p;t
  det]m9es t ! fair m>ket value (!
  prop]ty is grt] or less ?an ! price
  o!rwise det]m9$ 9 ! agree;t1 t price w
  2 adju/$ 6take 96a3.t ! excess or !
  %ortfall4 ,! ,de"p;t is only 3c]n$ 9 !
  valu,n = purposes ( adm9i/]+ ! ,act &
  det]m9+ ! tax 3sequ;es4 ,x is nei a
  valuator nor an >bitrator =!        #a
               ,,it-#afi             a#a
  "pies4 ,if ! "pies h agre$ t1 if !
  ,de"p;t's value is di6]5t f _!s1 !y w
  use ! ,de"p;t's value 9 _! transac;n1
  t is _! *oice &! ,de"p;t w recognize t
  agree;t 9 -put+ ! 9come ( all "pies1
  provid$ t all (! foll[+ 3di;ns >e met3
  7a7 ,! agree;t reflects a bona fide
    9t5;n (! "pies 6transf] ! prop]ty at
    fair m>ket value & >rives at t value
    =! purposes (! agree;t 0a fair &
    r1sona# me?od4
  7b7 ,ea* (! "pies 6! agree;t notifies
    ! ,de"p;t 0a lr atta*$ 6his return
    =! ye> 9 : ! prop]ty 0 transf]r$
    7;i7 t he is prep>$ 6h ! price 9 !
      agree;t review$ 0! ,de"p;t
      pursuant 6! price adju/;t clause1
    7;ii7 t he w take ! nec /eps 6settle
      any result+ excess or %ortfall 9 !
      price1 &
    7;iii7 t a copy (! agree;t w 2 fil$
      )! ,de"p;t if & :5 dem&$4
    
                                      #b
               ,,it-#afi             b#a
  7c7 ,! excess or %ortfall 9 price is
    actu,y refund$ or pd1 or a legal
    liabil;y "!= is adju/$4
#b4 ,:e!r ! me?od us$ 0! "pies 6det]m9e
  fair m>ket value is fair & r1sona# 9 !
  ,de"p;t's view w dep5d on ! circum/.es
  9 ea* case4
#c4 ,9 recogniz+ ! price adju/;t clause1
  appropriate adju/;ts 9 -put+ ! 9come (
  all "pies 6! agree;t w 2 made 9 _!
  tax,n ye>s 9 : ! prop]ty 0 transf]r$4
  ,if ! pur*as] has
--------------------------------------#b
  fil$ returns & claim$ capital co/
  all[.es1 deduc;ns f 9come bas$ on
  cumulative eligi# capital1 or explor,n
  & develop;t exp5ses 9 respect (!
  prop]ty = tax,n ye>s subsequ5t 6t 9 :
  x 0 transf]r$1 any nec adju/;ts w 2
  made 9 ^? subsequ5t ye>s4 ,likewise1
  any res]ves claim$ 0! v5dor 6def] !
  report+ ( 9come w 2 adju/$4

                                      #c
               ,,it-#afi             a#b
#d4 ,am5d$ ,=ms ,t#bjbb on ! sale (
  a3.ts receiva# or am5d$ agree;ts on !
  price pd = 9v5tory may 2 requir$4
#e4 ,if all ! 3di;ns m5;n$ 9 p>agraph #a
  >e met1 ! ,de"p;t w n apply subsec;n
  #ae7#a7 6tax a b5efit 6%>ehold]s4
#f4 ,": taxpay]s h 9clud$ price adju/;t
  clauses 9 agree;ts t relate
  6transac;ns report$ 9 tax returns alr
  fil$1 !y %d notify ! ,4trict ,(fice
  immly if !y wi% 6h ! clause 3sid]$ 9 !
  li<t (! -;ts 9 ? bullet94











                                      #d