Forms of Payment

edited September 24 in Miscellaneous

Does anyone have a policy stating what is accepted as a form of payment?
We had a resident come in to pay thier taxes with silver coins last year stating that it was just as good as cash. The bank told me they had to send away to ensure they were legal and what the value was and therefore the money was not credited to our account for over 3 weeks. I want to ensure we do not have to take this type of payment again, but because this resident is very confrontational, I want to have something in writing to provide to him.
Any help would be greatly appreciated!

Comments

  • We use the following guidelines for legal tender, part of the Currency Act

    Legal Tender

    8 (1) Subject to this section, a tender of payment of money is a legal tender if it is made

    (a) in coins that are current under section 7; and

    (b) in notes that are current under section 7.1.

    Limitation

    (2) A tender of payment in coins referred to in subsection (1) is a legal tender for no more than the following amounts for the following denominations of coins:

    (a) forty dollars if the denomination is two dollars or greater but does not exceed ten dollars;

    (b) twenty-five dollars if the denomination is one dollar;

    (c) ten dollars if the denomination is ten cents or greater but less than one dollar;

    (d) five dollars if the denomination is five cents; and

    (e) twenty-five cents if the denomination is one cent.

    Amanda Webster
    Resort Municipality of Whistler
    Senior Accounting Clerk

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