CRA considers that NYSE stock trades should be translated at the noon exchange rate on the settlement date

As CRA considers that shares sold on a stock exchange are disposed of on the settlement rather than trade date, it considers that the U.S. dollar proceeds received on a sale on a U.S. exchange should be translated into Canadian dollars using the noon exchange rate for the settlement date.

Neal Armstrong. Summary and translation of 2015-0588981C6 under 9 October 2015 APFF Financial Strategies and Instruments Roundtable Q. 5.