Unless a new interpretation was issued by the CRA since 2014 ( which is possible and if so please tell me where to look for it :(
A question was asked:
"I had read somewhere that I can use the average exchange rate for the year when
calculating capital gains on U.S. stocks. Is that true?"
The answer was:
"No. The Canada Revenue Agency issued an interpretation in October, 2014, that expressly
disallowed this practice. “An average rate may be acceptable for items of income, but not
for capital gains,” the CRA said."
you can read the full article on the Globe & Mail at
https://www.theglobeandmail.com/globe-investor/investor-education/calculating-gains-and-losses-on-us...
I will not argue with you, you do as you please, until the day the CRA does a verification you are OK
Income tax is based on the honour system
for me this closes
