Currency & Taxes
Taxes and Tax Rates
As of July 1, 2010, Ontario harmonized its retail sales tax with the GST to implement the HST at the rate of 13% and British Columbia harmonized its provincial sales tax with the GST to implement the HST at the rate of 12%. Also, as of July 1, 2010, Nova Scotia increased its HST rate from 13% to 15%.
The general retail sales tax rate (RST) is 8%.
The other RST rates for certain goods and services are:
- accommodation for a period of less than one month - 5%
- admissions of more than $4 to places of amusement - 10%
- alcoholic beverages sold through licensed establishments - 10%
- alcoholic beverages sold through retail stores - 12%
- alcoholic beverages taken from your inventory for your own use - 12%
- alcoholic beverages provided free of charge - 12%
For more information, contact the Canada Revenue Agency at www.cra-arc.gc.ca/menu-e.html.
Chartered banks are located in virtually all cities and towns in Algoma. These full-service institutions are the best locations for exchanging currency. Note: most banks are closed on Saturdays, Sundays and Holidays. There is also a government sanctioned Canada/U.S. currency exchange service at the Ontario Travel Information Centre in Sault Ste. Marie and at the Duty Free Store and Kiosk or at the Casino Sault Ste. Marie.
Credit Cards
Chartered banks are located in virtually all cities and towns in Algoma. These full-service institutions are the best locations for exchanging currency. There is also a government sanctioned Canada/U.S. currency exchange service at the Ontario Travel Information Centre in Sault Ste. Marie and at the Duty Free Store and Kiosk. Credit cards such as Visa, MasterCard, American Express, Diners Club etc., are honoured in all communities in the Algoma Region. Be sure to check with individual businesses before or when booking accommodations.
