Hello, I have question regarding which exchange rate to use when calculating Excess Reportable Income (ERI) on a foreign fund (registered as a "reporting fund") for the purposes of both income tax for that year and for adding to the base cost for Capital Gains Tax purposes on the investment. The specific question is what exchange rate should one use when converting an ERI per share figure given in US dollars by the fund provider? Please confirm, but my understanding is that there may be two dates that might be relevant: (i) the Fund Reporting Date, My understanding is that this is the date on which, if one owns the shares, then ERI is chargeable to income (ii) The Fund Distribution Date. This is the date on which the ERI is deemed to have been received by the investor if the shares were held on the fund reporting date referred to in (i) above Subject to your confirmation, it would seem logical that the ERI should be converted to Sterling on the date (ii) above, as this is the date on which one presumably recognises the receipt for tax purposes. But please could you confirm this. Thank you.