Currency:

The Canadian currency is in dollars. There are one dollar coins called "loonies" because of the loon depicted on the gold colored coin ; two dollar coins with a gold colored center and silver border called "toonies" because they are equal to 2 loonies ; dime; nickel and penny. The paper currency comes in denominations of $5; $10; $20; $50; $100. The present exchange rate is between $1.42 and $1.50 Canadian for every US dollar. Rates vary widely depending on where money is exchanged. Banks give the best rate. The easiest method of securing cash at the best exchange rate is to make withdrawals using a US credit card from the ATM machines found at the major banks and stores. As in the US, some banks charge a fee and a transaction tax, so check with the banks to find the best value. Save remaining Canadian dollars for your next trip as the exchange rate to convert back into US money from Canadian is usually not favorable.

Taxes:

The provincial retail sales tax is 8%; on accommodations it's 5%. There is an additional 7% national goods-and-services tax GST .

In general, nonresidents may apply for a tax refund. They can recover the accommodations tax, the sales tax, and the GST for nondisposable merchandise that will be exported for use, provided it is removed from Canada within 60 days of purchase.

The quickest and easiest way to secure the refund is to stop at a duty-free shop at the border. You must have proper receipts with GST registration numbers. Or you can apply through the mail. It will take about 4 weeks to receive your refund. Pick up a rebate form at the registration desk of your hotel.