Submitted by areimer on Tue, 2013-02-12 14:00.
Effective immediately, we will not be giving out pennies with your change. This is due to the discontinuation of the penny by the Federal Government. Since our pricing includes GST and is priced to the nearest quarter in most cases, most transactions will not change. The only transactions that might be affected are photographic prints on roll media. In those cases, your invoice will be calculated to the penny as in the past, but the way we settle cash payments will change:
- You may pay the exact amount (or pay to the penny) if you have Canadian pennies (maximum 25¢ worth of pennies).
- Otherwise, you will pay the amount rounded to the nearest 5¢ (we will be using the federal government rounding guideline, which is what most people think of when discussing rounding).
- Your receipt will be issued for the invoice amount (i.e. to the penny), as per University accounting standards.
Note that non-cash payments (e.g., interdepartmental billing, cheque from Faculty member) will not be rounded. Should we choose to accept debit, credit or Campus Card in the future, those transactions will not be rounded.