@Michael RL As per CRA, you should report all amounts in Canadian currency, unless the transaction meets the requirements explained as followed.
Foreign currency reporting
Complete all T5008 slips in Canadian currency. Use the exchange rate that was in effect at the time of the transaction or an average rate that includes the transaction period.
Foreign currency is usually converted to Canadian funds before it is credited to the recipient's account. However, certain taxpayers keep foreign currency accounts and choose to convert their account balances themselves. If you get proceeds of disposition in a foreign currency and deposit the amounts to your client's foreign currency account without converting them to Canadian funds, you can report in the foreign currency that applies. Identify foreign currency amounts by entering in box 13 the applicable currency code under international standard ISO 4217.
When you report amounts in foreign currency, keep the following in mind:
- print the name of the foreign currency on the T5008 slips (for example, U.S. DOLLARS) beside the Identification of securities text above the white box of Box 17 – Identification of securities for the recipient's benefit
- if you file your T5008 information return on paper and leave box 13 blank, we will process the amounts on the T5008 slips as Canadian dollars
- when completing the T5008 summary, you only have to enter one amount for total proceeds of disposition, whether or not you complete the T5008 slips in different currencies
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