Q: If I were to use DLR and DLR.U to convert currency then would this trade need to be reported when filing taxes? I'm not sure as there would not be any capital gain or loss (am I right?) If I do need to report the trade then I assume that I could claim the commission as expenses? Please clarify. Thanks in advance.
5i Research Answer:
Commissions cannot be claimed as their impact is built into any profit/loss already. While it is the 'same' security, there could still be a gain or loss because of currency moves. All trades need to be converted to Canadian dollars so it is possible that a loss/gain needs to be declared if currencies move while one of the positions is being held.