B.C. Money ChangesPear Tree Education
Pear Tree Education
20th Mar, 2013

B.C. Money Changes

If you’re not already aware, there are a couple of changes in money that affect all of us in British Columbia.

Firstly, Canada is phasing out the penny. This means that total amounts will be rounded up or down to the nearest 5c/nickel. This affects cash transactions only. All electronic payments will be charged at the exact amount. As most Pear Tree customers pay by credit or debit card, this shouldn’t affect your payments to us.

What will affect customers more is the change back to GST from HST. At only 5% GST compared with 12% HST, all of Pear Tree’s services will seem even better value for money! Existing customers will see classes that would normally cost $112 for a month now only paying $105! This applies to all purchases made from April 1st 2013.

Changes to our financial systems can cause a lot of confusion. If you would like to read more about these changes, please check out the following websites:

http://www.cba.ca/en/consumer-information/40-banking-basics/658-phasing-out-the-penny-in-canada

http://www.cra-arc.gc.ca/E/pub/gi/notice270/notice270-e.pdf

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