# Foreign shares



## mina124 (Dec 30, 2011)

Hello,

I moved to Canada in Dec 2010. I have some shares at my previous country and the value sharply dropped in 2011. I did not sell it yet. Few questions ..

- Should I fill any forms for 2011 return, or I should claim the capital loss/gain when it is realized?
- I assume that I should calculate the acquiring cost based on the closing price of the last business day before I land into Canada. Is that correct?
- How to convert the gain/loss into Canadian dollars? Is it based on the exchange rate of acquiring and selling day?
- I can not find the exchange rate for the shares currency on bankofcanada.com. Is there any other source to use?

Thanks


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## caricole (Mar 12, 2012)

> - I can not find the exchange rate for the shares currency on bankofcanada.com. Is there any other source to use?


http://www.banqueducanada.ca/stats/assets/pdf/nraa-2011.pdf

What currencyis used on the stock market in your ex-country?:hopelessness:
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> - How to convert the gain/loss into Canadian dollars? Is it based on the exchange rate of acquiring and selling day?


Your choice, you can use the average rate of the year or the exhange rate of the day
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> - Should I fill any forms for 2011 return, or I should claim the capital loss/gain when it is realized?


Even if you came to Canada in 2010, you should have filed an incometax return...even without any income

_You can claim a GST amount from the governement (on page 1)..._requirements: you have to be a resident on Dec 31 AND file an incometax return

You should file one for 2011 also

The capital gain or loss can only be filed AFTER it is realized:rolleyes2:


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## mina124 (Dec 30, 2011)

Thanks for your answers. 

My shares currency is not listed  I guess I'll just use Yahoo currency converter.

I did not file for 2010 as I stayed for less than a week; no income. I guess that credits for 3-5 days would not worth filing.


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## caricole (Mar 12, 2012)

mina124 said:


> I did not file for 2010 as I stayed for less than a week; no income. I guess that credits for 3-5 days would not worth filing.


WRONG, if you are a resident on December 31th and file an incometaxform

You are entitled for the full credit of the year (175$ ??)...it is not pro-rata for the time you where here

I did it once for a family of 9 (Vietnamese) who arrived on Dec 15....the tought I was crazy to file for them

But when they received in May their 175$ each....they touht Canadian taxlaws are crazy....:chuncky:


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## humble_pie (Jun 7, 2009)

hello mina & welcome to both lieux. Welcome to canada & welcome to cmf forum.

re your capital asset(s) from a prior life: capital gains or losses would only be reported as of the date of disposition, which has not yet occurred.

_"- I assume that I should calculate the acquiring cost based on the closing price of the last business day before I land into Canada. Is that correct? "_

yes, wonderfully correct.

_- How to convert the gain/loss into Canadian dollars? Is it based on the exchange rate of acquiring and selling day?_

yes, exactly, but keep in mind that your acquisition date is what you have set forth above, ie last traded price immediately prior to your arrival in canada.

_- I can not find the exchange rate for the shares currency on bankofcanada.com. Is there any other source to use?_

now you have us intrigued ! the bank of canada currency list is huge, so you must truly come from an exotic land !

however, i believe that if you email the Bank of Canada with your last-trading date immediately prior to your arrival, they will find & advise you of an appropriate exchange rate.


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## mina124 (Dec 30, 2011)

That's interesting  .. Could I file now for 2010 and ask for this credit or it is too late?




caricole said:


> WRONG, if you are a resident on December 31th and file an incometaxform
> 
> You are entitled for the full credit of the year (175$ ??)...it is not pro-rata for the time you where here
> 
> ...


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## mina124 (Dec 30, 2011)

Thanks Humble_pie for your detailed answers. I am from Egypt .. I'll try sending an email to Bank of Canada 



humble_pie said:


> hello mina & welcome to both lieux. Welcome to canada & welcome to cmf forum.
> 
> re your capital asset(s) from a prior life: capital gains or losses would only be reported as of the date of disposition, which has not yet occurred.
> 
> ...


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## caricole (Mar 12, 2012)

mina124 said:


> That's interesting  .. Could I file now for 2010 and ask for this credit or it is too late?


Why not

If on Dec 31Th 2010 you where in Canada and had a Social Insurance Number....you file and see what happen, you only have to fill in page 1 and sign on page 4


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## mina124 (Dec 30, 2011)

Ok, perfect .. I'll try it 

It looks I should also fill RC-151 and state my world income for 2010, 2009. So T1 and RC-151, any other forms? Is there any other form to fill to get Ontario sales tax credit for 2010? .. I am getting greedy 

Should I send both of 2010 and 2011 returns in same envelope?

Thanks.





caricole said:


> Why not
> 
> If on Dec 31Th 2010 you where in Canada and had a Social Insurance Number....you file and see what happen, you only have to fill in page 1 and sign on page 4


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## Guban (Jul 5, 2011)

mina124 said:


> Ok, perfect .. I'll try it
> 
> It looks I should also fill RC-151 and state my world income for 2010, 2009. So T1 and RC-151, any other forms? Is there any other form to fill to get Ontario sales tax credit for 2010? .. I am getting greedy


Greed is good, right? 

Don't necessarily count on getting the "full $175 credit" that caricole is referring to, if it is the GST/HST credit. RC151 declares your income before you came to Canada. If it was high enough, the credit will be reduced or eliminated.

BTW, welcome to Canada and Canadian taxes.


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## mina124 (Dec 30, 2011)

Thanks a lot caricole for the info .. I followed your advise last year and got around $1000 in total


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## abroad (Feb 26, 2013)

*Exchange rate money*



caricole said:


> http://www.banqueducanada.ca/stats/assets/pdf/nraa-2011.pdf
> 
> What currencyis used on the stock market in your ex-country?:hopelessness:
> =========================================================
> ...


Is this the same if you have som money in a foreign account.
Can I use the exchange rate (cra) if I have made some profit or loss on my money.

THX


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