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Money Matters

The Canadian dollar is the currency used on Prince Edward Island.

Many operators and retailers will accept American dollars, but not always at the official exchange rate. Businesses do not usually accept other foreign currencies. It is recommended that you convert your national currency into Canadian dollars before you leave home.

If you are visiting from another country, you may want to use our Foreign Exchange table to help you with your vacation planning.

Travellers cheques are recommended as an alternative to carrying large amounts of cash.

When making a reservation, ask the operator about the cancellation of deposits, accepted credit cards, and the establishment's policies on refunds and late arrivals.

Tax Information

Most Canadian Provinces have a Provincial Sales Tax (PST) which they apply to most purchases. The PST in Prince Edward Island is 10%. The Provincial Government has exempted all clothing and footwear purchases from the 10% provincial sales tax indefinitely. PST doesn't apply to edible groceries, clothing, footwear, books or anything under the value of twenty-five cents.

"Clothing" means all items designed to be worn on the body but does not include protective items such as helmets, hockey pants, shoulder pads, shin pads, hockey gloves, baseball gloves, golf gloves and other protective items of a similar nature and does not include watches, jewellery, purses, umbrellas and similar items. "Footwear" does not include cleated sports footwear such as baseball cleats, golf shoes, soccer boots, or bowling shoes, curling boots, ski boots, skates, waders and footwear of a similar nature.

PST is calculated after the GST is added to the price. Prices generally do not include PST. If applicable, 10% will be added at the cash register.

Goods & Services Tax (GST) is Canada's value added tax which adds 5% to just about everything except edible groceries and financial services. GST is not always included in the ticket price. All businesses that collect GST must prominently display their Business Identification Number (BIN) on their invoices.