FOR IMMEDIATE RELEASE:
TORONTO, March 6, 2018 – The Honourable J. David Wake, Ontario’s Temporary Financial Accountability Officer, has released a backgrounder that reviews changes to Ontario’s service fees in 2017-18.
The Province changed 97 service fee rates in 2017-18 and forecasts that it will collect $2.9 billion in service fee revenue. In 2017-18, service fee revenue is expected to increase by 8.0 per cent from the prior year, primarily due to a 12.0 per cent increase in vehicle and driver registration fee revenue.
The FAO also reviewed five service fee categories to determine the rate of cost recovery for each service. Revenue from vehicle and driver registration fees and civil court-related fees are projected to recover 85 per cent and 28 per cent, respectively, of the cost of providing the service. However, revenue collected from other fees, such as personal property security fees, are forecast to be significantly greater than the cost of providing the service in 2017-18.
To learn more about Ontario service fees in 2017-18, click here for the FAO’s backgrounder.
About the FAO
Established by the Financial Accountability Officer Act, 2013, the Financial Accountability Office (FAO) provides independent analysis on the state of the Province’s finances, trends in the provincial economy and related matters important to the Legislative Assembly of Ontario. Visit our website at http://www.fao-on.org/en/ and follow us on Twitter at https://twitter.com/InfoFAO.