Chapter History

S5-F4-C1, Income Tax Reporting Currency

Introduction

The purpose of a Chapter History page is to highlight any amendments to the information contained in an interpretation bulletin that is now reflected in a chapter of an income tax folio as well as to identify any subsequent amendments to a folio chapter. It outlines amendments that have been made as a result of legislative changes and proposed legislative changes, precedential court decisions, as well as new or revised interpretations of the CRA.

Except as otherwise noted, all statutory references herein are references to provisions of the Income Tax Act, R.S.C., 1985, c.1 (5th Supp.), as amended and all references to a Regulation are to the Income Tax Regulations, C.R.C., c. 945, as amended.

Update January 25, 2017

¶1.6 has been updated to take into account proposed amendments to the definition of the expression relevant spot rate in subsection 261(1). These changes were released by the Department of Finance on September 16, 2016 in Legislative Proposals Relating to the Income Tax Act and the Income Tax Regulations and to Related Legislation.

¶1.15 has been updated to improve the clarity of the last sentence.

Date modified:

2017-01-24