Close Menu
FintechFetch
    FintechFetch
    • Home
    • Fintech
    • Financial Technology
    • Credit Cards
    • Finance
    • Stock Market
    • More
      • Business Startups
      • Blockchain
      • Bitcoin News
      • Cryptocurrency
    FintechFetch
    Home»Finance»Most Canadians feel tips are too high: survey
    Finance

    Most Canadians feel tips are too high: survey

    FintechFetchBy FintechFetchMarch 13, 2025No Comments3 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.

    Article content

    Most Canadians believe the country’s tipping culture has gotten out of hand and feel that gratuities are too high, according to a new study by H&R Block Canada Inc.

    Article content

    The study, which interviewed 1,790 Canadians in February, found that a whopping 94 per cent are annoyed by card payment machines prompting tip options for services that traditionally haven’t required gratuities. Still, more than 57 per cent of them feel awkward skipping the prompts and tend to leave a tip anyway.

    Article content

    On average, Canadians consider nine per cent to be the appropriate tipping amount, which is well below typical gratuity prompts for most services. Fifty-three per cent of those surveyed identity as “frugal tippers” and typically opt for the lower tip option or only tip for exceptional service.

    “Our research indicates that many Canadians are feeling the strain of financial pressures,” Yannick Lemay, tax expert at H&R Block Canada, said in an email. “When Canadians are feeling financial strains they look for ways to cut back spending.”

    Most Canadians, 88 per cent, believe that tipping culture has become a means for employers to pay their staff less and 91 per cent think that employers should cover their employees’ full wages. They are also divided on who they think pockets the tip, with around half believing the worker keeps it and the other half believing it goes to the employer.

    Most of those surveyed are aware that tips are considered taxable income, but despite this, 47 per cent assume that workers are not declaring their tips when filing their taxes.

    “It’s important to emphasize that tips are considered taxable income, by law, even if your employer does not include any tip amount on your T4 slip. But the good news is there are many ways to make your tips work in your favour when it comes to filing your taxes,” Lemay said in a press release. “Not only are there numerous deductions, benefits and credits you can leverage, there are tax-friendly ways to use your tips to invest in your professional growth and well-being and bolster your savings.”

    Recommended from Editorial

    Overall, only 30 per cent of Canadians support a strong tip culture, despite 31 per cent having directly worked in a gratuity-based job at some point in their lives.

    • Email: novid@postmedia.com

    Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here.

    Share this article in your social network



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous Article86% of Financial Firms are Still Not Fully Compliant With DORA: Clear Junction Highlights Hurdles
    Next Article Bitcoin Investors Shift To Strong Distribution As Demand Fades, Glassnode Reveals
    FintechFetch
    • Website

    Related Posts

    Finance

    CRA prevails over Holt Renfrew saleswoman in battle over wardrobe deduction

    August 7, 2025
    Finance

    The Futility Of Chasing A Hot IPO And What To Do Instead

    August 6, 2025
    Finance

    Watchdogs warn against finfluencers, but here's how they can help

    August 5, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Why it’s perfectly normal (and good, even) to question what you do for a living

    June 15, 2025

    Digital Asset Custodian Hex Trust Gains Singapore Payment License

    March 6, 2025

    Ozean Teams up With First Digital to Provide Stablecoin Solutions to Projects Tokenising RWAs

    March 6, 2025

    Australia Advances Project Acacia to Test CBDCs and Tokenised Assets

    July 14, 2025

    How Have Spot Ethereum ETFs Performed?

    July 20, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    Most Popular

    Stellar (XLM) Holds Near $0.42 as Analysts Eye 5x Gains by Q4 – Is Stellar the Next Top Crypto?

    August 5, 2025

    Here’s what £1,000 invested in the FTSE 250 a year ago would have earned

    February 5, 2025

    Boogie Fland on How NIL is Changing the Path to the NBA

    March 24, 2025
    Our Picks

    Steblecoin regulation is here – but what comes next for banks?: By Carlos Kazuo Missao

    August 7, 2025

    Airtree Raises $650M Fund V to Back Australia and New Zealand Tech Founders

    August 7, 2025

    Caught Off Guard? You May Have Found Your Next Big Idea

    August 7, 2025
    Categories
    • Bitcoin News
    • Blockchain
    • Business Startups
    • Credit Cards
    • Cryptocurrency
    • Finance
    • Financial Technology
    • Fintech
    • Stock Market
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2024 Fintechfetch.comAll Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.