Re:Is It Time to Kill the Penny?
by FireBeyond on Tuesday July 14, 2020 @02:19PM
(#23835639)
Re the tax situation:
When Australia ditched the 1 and 2 cent coins, making 5 cents the smallest denomination, the rules were that transactions ending in 1, 2, 6 or 7 were to be rounded down to 0 or 5, respectively, and that 3, 4, 8 or 9 were rounded up, and that this was to be done at the _transaction_, not the _item_ level.
Several companies and utilities had to be reprimanded or fined due to doing it per item.
When Australia ditched the 1 and 2 cent coins, making 5 cents the smallest denomination, the rules were that transactions ending in 1, 2, 6 or 7 were to be rounded down to 0 or 5, respectively, and that 3, 4, 8 or 9 were rounded up, and that this was to be done at the _transaction_, not the _item_ level.
Several companies and utilities had to be reprimanded or fined due to doing it per item.