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 Harmonized Sales Tax (HST) is a 13% tax that is applied to most purchases of taxable supplies of goods and services in the Province of Ontario. The HST consists of a 5% federal portion and an 8% retail sales tax portion.