TAXES, TAXATION, TAX and Canadian stocks Message Board

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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks

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To: Sans Souci who wrote (192)	9/26/2000 1:57:48 AM
From: Sultan	of 548

Just saw your note.. Kind of dated but I thought I'd respond anyway.. All american trades must be reported in Canadian dollar so in your example, you will have to convert your cost in Feb. by applying the foreign exchange rate.. If you have kept a record of the exchange rate on the date the transaction was executed, you apply that rate. If you did not keep track of the exact rate, you can look up the monthly avg. rate (offical Rev. Canada rates) for that month and apply.. You do the same for your October transaction.. This is one reason, now and then you will find that you might be loosing money on the actual trade but you might still end up showing profit because of the changes in exchange rate.. If you actually transferred canadian dollar to cover your purchase then it makes it easy because you'd have the info. but if you have an american dollar account then the above apply..

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