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About Toronto -
Visitor Information
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Heading to the Toronto soon?
Here is everything you need to know about Canadian currency and taxes so you can plan ahead to exchange some of your local currency to the Canadian dollar to spend in the city!
Currency
Toronto's currency is the Canadian dollar.
The symbol is: C$
For denominations under five dollars we use coins, including:
- The one dollar coin the "Loonie" (The gold-coloured loonie features the loon, a common Canadian water bird)
- The two dollar coin the "Toonie" (The two-toned toonie features a polar bear)
- Canadian coins also come in denominations of one (penny), five (nickel), 10 (dime) and 25 (quarter) cent pieces
For denominations over and including five dollars we use bills, including:
- Five dollars (blue), ten (purple), twenty (green), fifty (red) and one hundred (brown). The hundred dollar bills are less common and can be difficult to change.
Canadian cash, credit cards (especially Visa, MasterCard and American Express) and traveller's cheques are accepted at all major retailers.
Currency exchange is available at all banks throughout the city as well as companies such as American Express or Thomas Cook/Travelex. Exchange kiosks can also be used and can be found in the airport and most shopping malls.
You'll find cash machines/ATMs in most banks, hotels and shopping malls – cash is dispensed in Canadian currency
U.S. dollars may be accepted in many Toronto establishments, although change from your transactions will be given in Canadian currency and exchange rates will differ with each merchant.
Taxes
Since Toronto is part of the Province of Ontario, purchases made in Toronto are subject to the 8% Provincial Sales Tax (PST).
The Goods and Services Tax (GST) is a 5% tax that is charged on most goods and services sold or provided in Canada.
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