Quote:
Originally Posted by Ironhorse
When I go to my local Chinese restaurant for a family sized take out, the little Chinese guy taking orders always asks "You pay cash, yes?" When I do, I always get a discount and more food. I'm pretty sure the money also goes into the cash register of his right hand pocket.
|
Absolutely it does. Credit card processing fees etc are 3-5%, so 90c to 1.50$ on a 30$ meal?
No cc or interac transaction means no statement from the cc company/bank at the end of the month, which means when the CCRA comes a knocking once a year, stated cash sales can be generally massaged into whatever number works best as far as paying tax.
What bugs me are the cheapo convience store places that take interac, but then charge you a 50-75c fee for using the service to supposedly cover the cost (as they can't raise prices on pop or chips and have the various distributors come down on them) but probably take some profit from there too.