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Must distributions made in U.S. dollars be converted into Canadian dollars?

April 26, 2017Canadian converted distributions Dollars

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Must distributions made in U.S. dollars be converted into Canadian dollars?

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Revenue Canada requires that all income be reported in Canadian dollars. T3 and Relevé 16 (Québec residents) tax slips issued by each Fund are denominated in Canadian dollars. Distributions made by Funds denominated in U.S. dollars are converted into Canadian dollars based on the average exchange rate determined each year by the Bank of Canada.