Yep, in Canada there is two "thefts" generally: over $5,000 and under $5,000.
I was charged with theft under 5 when I was 14 after stealing two candy bars and a drink from Walmart. Same charge as I would of had if I stole a 70" flatscreen TV, or a top of the line computer.
It's not just in Canada. Have you ever heard the term "grand theft auto"? There have been two levels in almost every jurisdiction for a very long time: petty (small) theft and grand (large) theft. The dividing line in England used to be a shilling, for which you could be hanged or transported. Sixpence would get you a short-ish time in gaol/jail.
True, but the separation between grand theft and petty theft exists in pretty much every common-law country, and has for centuries - it's not a peculiarity of Canadian law.
Theft over is liable to a term up to 10 years. Theft under is up to two years. Two years or more is time in a federal institution. Anything less (eg. "two years less a day") and you're working for the province.
It basically comes down to if you steal more than $5000 you might go to a very bad place and if it's less, you only go to a slightly less bad place. The line has to be drawn somewhere, and no prison is a particularly good place so it really hardly matters.
