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Frequently Asked Questions

About Investments Held in Foreign Currency

How many currencies is my tax information reported in?

A separate T5 tax slip will be prepared for each currency held in your account. T3 tax slips are issued only in Canadian dollars. Registered account tax slips are only provided in Canadian dollars. U.S. tax slips 1099-DIV, 1099-INT and 1099-B are shown in U.S. dollars, based on daily foreign exchange rates. Beginning with the 2010 tax year, the Summary of Security Dispositions in your T5 tax package will automatically display information about securities sold during the year in Canadian dollars.

 

Where can I get the exchange rate to convert my income in foreign currency into Canadian dollars?

You should use the Annual Average Exchange Rates published by the Bank of Canada in January. Go to the Bank of Canada website page http://www.bank-banque-canada.ca/en/rates/exchange_avg_pdf.html (opens external website in new window) to see Annual Average Exchange Rates.

 

The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This information is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. This information is not intended as nor does it constitute tax or legal advice. Clients should consult their own accountant or other professional advisor for more detailed tax related information. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. ®Registered trademark of Royal Bank of Canada. Used under licence. RBC Dominion Securities is a registered trademark of Royal Bank of Canada. Used under licence. ©Copyright 2017. All rights reserved.