Is It Time to Kill the Penny?

Re:Is It Time to Kill the Penny? by bawolff on Tuesday July 14, 2020 @04:16PM (#23837243)

> Side note: If you drop the penny, for the love of $diety change your sales tax structure so that it's a multiple of 5. 5%, 10%, 15%, etc... Since Canada changed but left the taxes the same (14% in Ontario IIRC) there seems to be a lot of rounding-off in favour of companies instead of consumers. $0.01-$0.02 per transaction * millions of transactions per day has got to make some accountants happy.

This 100%. Quebec is the worst - 9.975%! Why oh why. It is so much simpler to have reasonable change in alberta.

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Re:Is It Time to Kill the Penny? by 51Cards on Tuesday July 14, 2020 @04:20PM (#23837297)

Quebec went to 9.975 because they used to have "stacked" taxes, where you would charge GST first, then charge QST on the combined total as a second step. (yes, they QST taxed the GST) A few years back they went to a "sane" system of only charging GST and QST on the base amount, however they didn't want to lose money so they adjusted QST to 9.975 so the final tax collected would be the same as before.

Source: I write point of sale systems in Canada

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