27 October 2011 Internal T.I. 2010-0382161I7 F - CPN-144 - remises et ristournes -- summary under Subsection 10(1)

May volume rebates received by food wholesalers from suppliers be applied to reduce the cost of the purchased food inventory, or must they be included in income? After noting that they generally must be included in income, CRA stated:

[A] change in the method of determining the cost of inventory items does not require the approval of the Minister.