The Government of Canada announced in the Economic Action Plan 2012 that it will remove the penny from Canada's coinage system. The Royal Canadian Mint will no longer dispense pennies beginning February 4, 2013. However, the penny will continue to be used in cash transactions indefinitely for businesses that choose to accept them
Cash
transactions where the penny is not available for use should generally be
rounded up or down to the nearest five-cent increment in a fair and transparent manner
after
the calculation of the HST.
Non-cash payments such as cheques, gift certificates,
credit and debit cards will not be subject to rounding.
