Interest

Summary Policy

Date
September 3, 2003

Reference number
CSP-I12

Key words

Interest

Policy statement

Interest earned on investments and from bank accounts is considered income. When completing its Form T3010, Registered Charity Information Return, a registered charity must report interest earned on its investments in Canadian dollars. Interest earned on foreign investments must be converted at the exchange rate in effect on the day the charity received the income or the rate of exchange in effect at the end of the fiscal period (accrual basis only).

References