CPA Canada’s submission to Finance Canada on functional currency rules

Learn about Chartered Professional Accountants of Canada (CPA Canada)’s concerns with functional currency rules and recommendations to improve them in this submission to the federal government.

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CPA Canada has provided feedback on Finance Canada’s functional currency rules contained in section 261 of the Income Tax Act in this January 19, 2012 submission. Developed by the Joint Committee on Taxation of the Canadian Bar Association and CPA Canada, this submission paper  identifies a number of issues with the rules, and provides several detailed recommendations for how to improve their effectiveness.

What you will learn

Committee members provide their expert insights on the various aspects of the functional currency rules, including:

  • time limits for filing an election or revocation
  • corporate amalgamations
  • partnerships and foreign affiliates
  • anti-avoidance rules

Highlights

Our Firm Directory allows you to search for Canadian CPA firms using our interactive map as well as other criteria.

Jointly presented by CPA Canada and CPA Ontario, The ONE is the must-attend, multi-track event of the year, designed for all CPAs who want to be at the top of their game.