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Financial and Banking Information

Credit Cards
Most major credit cards are welcome in Canada, including American Express, Master Card, and VISA.

Currency
It is recommended that visitors use Canadian funds.  Currency exchange offices, conveniently located at most travel centres at the U.S. / Ontario Border, offer a good rate of exchange and are open daily.  Good rates of exchange are also offered at the currency exchanges at international airports (Toronto, Ottawa) and at all banks, trust companies, and credit unions.  Banks are generally open 10 am to 4 pm, Monday to Thursday, and to 6 pm on Friday.  Most trust companies are open 9 am to 6 pm weekdays and on Saturday mornings.

Sales Taxes
8% Provincial Sales Tax applies to most purchases.  An additional 6% Federal Goods & Services Tax applies to most purchases of good and services.

Sales Tax Refunds, Goods & Services Tax (GST) Refund
On September 25, 2006, the Government of Canada announced the elimination of the GST Visitors' Rebate Program effective April 1, 2007 as part of a package of spending restraint measures. The Department of Finance Canada has released details on the proposed elimination in a press release available at Finance Canada. Under the proposal, non-residents may still qualify for a rebate after the effective date in specific circumstances if a written agreement for a particular supply was entered into before the announcement date.

Refund forms can be picked up at the Ontario Travel Information Centres, or by contacting:
Visitor Rebate Program Summerside Tax Centre
Canada Customs & Revenue Agency
275 Pope Rd., Suite # 104, Summerside, PEI, C1N 6C6
Phone: 1-800-66VISIT (668-4748), toll free from anywhere in Canada
Email: visitors@ccra-adrc.gc.ca

Sales Tax Refunds, Retail Sales Tax (RST) Refund
The 8% Ontario Retail Sales Tax is only refunded on purchases with a retail value of at least $625.00 before taxes are applied.  This means that the RST must be at least $50.00 on each receipt.  RST is not refunded on consumable goods, accommodation, transportation, services or rentals.  Visitors from other Canadian provinces must show proof that they have paid their own province's sales tax on the goods purchased in Ontario in order to obtain a refund.  Consequently, in some cases, visitors from other provinces with equal or higher sales tax rates will not benefit from this refund.  To obtain an RST form, please contact:

ONTARIO MINISTRY OF FINANCE
Retail Sales Tax Branch, Refund Unit
1600 Champlain Ave., 2nd Floor, Whitby, ON L1N 9B2
Phone: 1-800-615-2757 (Canada) / 1-800-432-3509 (outside Canada), Web: www.rev.gov.on.ca

Please note: Visitors wishing to apply for both the GST and RST must ensure that they apply for the GST refund and await the GST refund cheque before applying for the RST refund.  The RST refund office will not return receipts and visitors may not send both forms at the same time to one address.  Please remember to ask the GST refund office to return the original receipts with the refund cheque in order to apply for the RST refund.