It is advised to have local currency on hand prior to arriving. Some hotels, merchants,
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.
How doing can benefit newcomers
To know more 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).
The Canada Revenue Agency (CRA) collects income taxes.
Each year people who are Canadian residents for tax purposes complete an income tax return. On this return you list your taxable income, deductions and tax credits to calculate how much tax you owe.
Find out more in How much income tax do I have to pay?
In Ontario, there is a Harmonized Sales Tax (HST) of 13%. Uusally, HST is added at the cash register so the amount on the price tag may not be the final price.
8% of the HST goes to the provincial government and 5% goes to the federal government.
You pay HST on many goods and services but there are a few exceptions, such as basic food products, child care services, and prescription drugs.
For more information, read What's Taxable Under the HST and What's Not?
This guide is available in more than 20 languages. You can also call 1-800-337-7222 or 1-800-263-7776 (TTY).