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CRA - What exchange rate can I use?

Canada : British Expat Discussion Forum - britishexpats.com
First tax return time...

CRA website states below.

Quote:

Foreign employment income is income earned outside Canada from a foreign employer. Report this income in Canadian dollars. Use the Bank of Canada exchange rate in effect on the day you received the income. If the amount was paid at various times in the year, you can use the average annual rate.

As we moved here post Brexit in Sept it works out a lot better using the rate in effect on the day I received the income. However it is monthly wages and paid a various times in the year so I am unsure if I then must use the annual rate.

Has anyone had any experience of which exchange rate to use?

Many Thanks

Mark
Date: Mar 20, 2017   


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