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.

Get your downloadable electronic copy.

Download Now

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


Canada is celebrating its 150th anniversary. We’re celebrating you, Canadian CPAs. Tell us why you’re proud to be a Canadian CPA. Then watch for our big celebration in July.

Gain practical organizational insights and learn from industry experts at this annual event for not-for-profit financial leaders.