It is advised to have local currency on hand prior to arriving. Some hotels, restaurants and suppliers accept U.S. or other foreign currency at a pre-determined rate, which may differ from the daily rate posted by financial institutions.
To check the conversion rate of currency, use a Currency Converter
Cost of Living Calculator
It is difficult to estimate the cost of living in Ontario, as every situation is different. To use a Cost of Living Estimator that can help you develop a budget, click here.
How doing taxes can benefit newcomers
To learn more about benefit and credit payments, please see the following attachments:
Taxation System in Canada
In Canada, the federal, provincial and municipal governments collect money from individuals and companies to help pay for government programs and services, such as roads, public utilities, schools, health care, economic development and cultural activities. Common types of taxes are income taxes, sales taxes, property taxes, and business taxes (if you own a business).