Toronto taxi and limo industry to receive some financial relief
As part of the 2021 budget approval process, Toronto City Council voted to provide a temporary reduction in the renewal fees and regulatory charges for Taxicab and Limousine Vehicle-for-Hire licensing categories. This initiative will assist up to 8,670 drivers in the city. Also please have a look at Airport limo Toronto.
In light of the financial pressures residents and businesses are facing as a result of the COVID-19 pandemic, the City has been working to find ways to reduce costs for Torontonians. The taxicab and limousine industry has experienced significant service reductions this year, and the City is dedicated to helping support its recovery.
“We are doing everything we can as a City government to help residents and businesses get through these tough times,” said Mayor John Tory. “I want to thank councillors for working together to provide some relief for taxi drivers – we know the taxicab industry has been hit hard by the pandemic. This is much-needed relief for the industry and I’m glad the City can offer some support at this time,” said Mayor Tory.
This $2.47 million support will enable the following:
- a 50 percent reduction of the renewal fees, until further City Council direction, with a credit provided for any renewal fees due and paid following January 1, 2021 for the taxicab industry;
- a temporary reduction in the regulatory charges for the Vehicle-for-Hire Accessibility Fund Program by 75 percent for 2021;
- a reinstatement of any expired and cancelled taxicab licences from 2020 for the non-payment of renewal fees and extension of the deadline for payment until December 31, 2021; and
- a suspension of the cancellation of vehicle-for-hire licences for non-payment of renewal fees in 2021, with a report back on a payment-deferral application process.
For more information on taxi licencing, visit here.
Toronto residents are encouraged to learn more about the impact of their property tax investment by viewing the reports and presentations available here.
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