Let's be clear. The penny will continue to be valid currency. Retailers will just not be able to charge to the penny. This also means that if a penny doesn't exist in Canada then a price of .97 cents shouldn't either (time for another rollback walmart)
If this is not the case then the government didn't really think this through (no surprise). You all know there will be many retailers that will always round up. its not hard to hid that stuff in the Point of Sale software so unless you are really good at math and feel like figuring out math at 6 am before you drink that coffee then you get a little bit screwed but the retailers get extra to their bottom line.
Example: If something costs $1.50 and they charge GST then the actual cost is $1.575. which way do you go. Obviously up even though its dead in between. With the penny that would be $1.58 and without the penny its $1.60. I know its not a big deal.
My overall point is that the penny needs to go away completely and the only way that happens is the removal of taxes like GST and PST while making retailers price to the nearest nickle. Ain't going to happen
Thats just my .05
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