At the 2007 APFF Roundtable, CRA stated:
It appears to us that the validity of a price adjustment clause does not depend on the filing of an amended election (on prescribed form T2057) pursuant to subsection 85(7.1) of the ITA.
In confirming this position, CRA stated:
Despite the fact that paragraph 26 of Information Circular 76-19R3 has not yet been amended, our position that the validity of a price adjustment clause does not depend on the filing of an amended election (on prescribed form T2057) pursuant to subsection 85(7.1) of the ITA is still in effect.