exchange rate used on US income on canadian return

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knight03
Posts: 13
Joined: Mon Dec 17, 2007 12:49 pm

exchange rate used on US income on canadian return

Post by knight03 »

In years past I have always just used the bank of canada average USD exchange rate for my tax returns....but this is a "cheque" rate
It is possilbe on that site to pull the cash rate for the year....which is about 2% lower....Will the CRA make a stink if I use that rate on my returns? do I need to provide some proof of the calculation.
My US paychecks are deposited in a US account so I do transfer funds in cash to my canadian accounts and am obviously charged the cash rate on the exchange.....
Can I go back and change previous years returns......this question has more to do with my "adjusted gross income" # for the purpose of my divorce?
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