Currency & Taxes
The Canadian dollar (sign: $; code: CAD) is the currency of Canada. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. The Canadian $1 coin is commonly referred to as a Loonie because a loon is imprinted on one side of the coin, and the $2 coin is commonly referred to as a Toonie. Travelers are encouraged to exchange their currency with CAD currency to receive a better exchange rate.
The Goods and Services Tax (GST) is a five per cent tax that is applied to most supplies of goods and services made in Canada. The GST also applies to supplies of real property (for example, land, buildings and interests in such property) and intangible property such as trademarks, rights to use a patent, and digitized products downloaded from the Internet and paid for individually.
The Provincial Sales Tax (PST) is a five per cent tax that is applied to the purchase importation, or rental of certain goods and services within the province of Saskatchewan.