Toronto offers visitors world-class products without world-class prices. A favourable exchange rate doesn't hurt, either. So be sure to pack an extra bag for the loot you'll want to bring back home.
- Toronto's currency is the Canadian dollar
- For denominations under five dollars we use coins - some we've even given cute names: the loonie ($1), and toonie ($2)
- U.S. dollars are accepted in most Toronto establishments, although you'll receive change in Canadian funds and exchange rates will differ from merchant to merchant
- You’ll find cash machines/ATMs in most banks, hotels and shopping centres
- Travelers cheques and credit cards are accepted at most (but not all) major retailers
- Currency exchange is available at banks and kiosks throughout the city and at the airport
Tipping
If you’re happy with the service you receive, a 15-20% tip on the pre-tax bill is a standard expression of appreciation when dining out in the city. Note that some restaurants automatically add this gratuity when serving large groups, so be sure to check your bill.
Tips are also expected for services such as haircuts, shoe shines and taxi rides. 15-20% is standard in these situations as well.
Taxes
The Goods and Services Tax (GST) is a 5% tax that is charged on most goods and services sold or provided in Canada. And as we’re part of the Province of Ontario, purchases made in Toronto are also subject to the 8% Provincial Sales Tax (PST).
Provincial Sales Tax (PST) Refund on Purchases
If you have visited Ontario you may be entitled to a refund of the Provincial Sales Tax (8%) on goods purchased and taken with you when you leave Canada. The Ontario Provincial Sales Tax is only refunded on purchases with a retail value of at least $625 before taxes are applied. This means that the PST must be at least $50 dollars on each receipt (not cumulative). PST is not refunded on consumable goods, accommodation, transportation, services or rentals. Goods must be removed from the province within 30 days of purchase and refund applications must be submitted within four years.
Visitors from other Canadian provinces must show proof that they have paid their own province's sales tax on the goods purchased in Ontario in order to obtain a refund . Consequently, in some cases, visitors from other provinces with higher provincial sales tax rates will not benefit from this refund.
To obtain an PST refund form, click here.
Or contact:
Ontario Ministry of Revenue
Retail Sales Tax Branch - Refund Unit
1600 Champlain Ave.
Whitby, ON
L1N 9B2
Tel: (905) 432-3431
1-800-263-7965
Fax: (905) 435-3543
Or refer to:
Premier Tax Free Worldwide Tax Free Services