If Australia has no 1¢ coins, how would you get change for something that was like...19.96 and you gave a $20

Question

So, it gets rounded, who gets the extra money if it gets rounded up the government for extra tax, or the store? Or do they even have tax? What happens if you pay with a credit card, does it round then?

Answer 1

Jackrat is right for cash transactions in the major stores. I think the small stores can round it up or down how they like, but I'm not 100% sure about that. With credit cards and other cashless transactions, the exact amount is debited, and I guess the rounding takes place when the account is closed.

As far as the other issue is concerned, all Australian businesses have to have systems in place to comply with the GST, so computers work out what the government gets and what the shop keeps. If the shop rounds both up and down as described by jackrat, the odd cents would largely cancel themselves out, but if there is any left over, it would stay with the shop, I would think.

Answer 2

The question wasn't asking if the price gets rounded up, it was asking what happens to that 1c or 2c. Does the shop change its transaction records to reflect the new rounded price? Say I bought a loaf of bread from the supermarket for $1.98. The supermarket rounds it up to $2. When tax-time rolls around, does the supermarket claim it sold the bread for $1.98 or $2?

Answer 3

It gets rounded down or up to the nearest 5 cents, so for $19.96, you would get 5 cents change. If it was 19.97 it would get rounded down, but if it was $19.98 of $19.99 it would make it $20.

Answer 4

gets rounded down to 19.95 and if it was 19.97 it would be rounded down also .if it was..19.98 ..19.99 gets rounded up to the full 20.
as for the tax I think the same happens to them at the end of the financial year /tax time..end of june.

Answer 5

They don't have 1c/2c coins but they will charge you 19.95 or the full 20.

Cheers Schuan

Answer 6

Maybe nothing can accumulate to that price?

Answer 7

by two c2 coins