The CAO has announced a temporary adjustment of a 25% reduction in the annual fee/assessment for the 2019/2020 fiscal year of the CAO.
This adjustment took effect as of January 7, 2019 – the date on which corporations could start filing their 2019/2020 annual returns. The annual assessment is for the 2019/2020 year only (originally set at $1 per voting unit per month but for 2019/2020 reduced to $0.75 per voting unit per month). The CAO reports that its projected costs for delivering its services will be less than projected in its budget, owing in part to the limited jurisdiction of the Tribunal (CAT) to receive only records disputes.
This temporary reduction will automatically be applied against the total assessment amount owing for each corporation and will appear on each corporation’s annual invoice.
For more information, please visit the Condo Authority of Ontario