For help with exchange rates or to identify foreign banknotes, visit any on of our branches. In certain circumstances described in the Income Tax Folio S5-F4-C1, Income Tax Reporting Currency, an average rate may be used to convert foreign currency amounts. Competitive foreign currency exchange rates are determined at the time the banknotes are bought or sold. Other sources that the CRA would generally accept include rates from Bloomberg L.P., Thomson Reuters Corporation and OANDA Corporation. Currency Online sell rate Euro (EUR) 1.1285: US Dollar (USD) 1.2251: Polish Zloty (PLN) 4.863: Canadian Dollar (CAD) 1.6268: UAE Dirham (AED) 4.401: South African Rand (ZAR) 22. We also check our rates regularly against our high street competitors. used to prepare financial statements (if any) Buy Foreign Currency from John Lewis Finance online and get it delivered to your front door.used in accordance with well-accepted business principles.published by an independent provider on an ongoing basis.In general, the foreign currency amount should be converted using the Bank of Canada exchange rate in effect on the day of the transaction.Īlternatively, the CRA will also generally accept a rate for that day from another source if it is: Report your net gain or loss in Canadian dollars. If the net amount is $200 or less, there is no capital gain or loss and you do not have to report it on your income tax and benefit return. However, you only have to report the amount of your net gain or loss for the year that is more than $200. Foreign exchange gains or losses from capital transactions of foreign currencies (that is money) are considered to be capital gains or losses.
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