For a second year in a row, the CAO has announced that it will be implementing a temporary 25 per cent reduction to its budgeted annual fee payable by condo corporations. This reduction will be applicable to the 2020-2021.
As you know, the CAO provides information, training, dispute resolution and other consumer protection condo-related services to Ontarians. To operate and serve condo users, this self-financed organization relies mainly on an annual fees paid by condo corporations across Ontario. After extensive consultation in 2017, the annual fee was set at $1/month per voting unit (or $12/year per voting unit). However, due in part to the limited jurisdiction of the Condo Tribunal, the CAO has announced that the projected costs for delivering its services will be less than the annual budget. As a result of this, it will reduce, this year again, its annual fee to $0.75/month per voting unit.
This temporary reduction will automatically be applied against the total assessment amount owed by each condominium corporation and will appear on your 2020-2021 assessment invoice.
Deadline to file your return
As early as January 2, 2020, all condo corporations will be able to begin filing their 2020-2021 annual return with the CAO. All condo corporations are legally required to pay this annual fee and to file their annual return by no later than March 31. Effective April 2, 2019, a $200 late filing fee will be applied to all overdue returns.
Are your condo fees too high? How do they compare? Help us take an accurate picture of condo fees in Ontario by taking our Survey. It is best (but not essential) to have in hand your most recent budget to be able to answer all questions.