Can a group of eligible entities who prepare consolidated financial statements in accordance with their normal accounting practices choose to use the consolidated revenue from those statements to determine their qualifying revenue, even if there is a higher level consolidation? CRA responded:
[W]hen there are multiple levels of consolidated financial statements prepared in accordance with the normal accounting practices of the group, it is our view that when determining qualifying revenue, the broadest level of consolidated financial statements (i.e., the broadest group of eligible entities that normally prepares consolidated financial statements) should be used for determining the qualifying revenue for each member of the group of eligible entities.