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May 30, 2003
Tax payment options available to assist SARS impacted Toronto businesses
  
Toronto hospitality-related businesses have experienced financial hardship due
to the recent SARS (Severe Acute Respiratory Syndrome) outbreak. At its meeting
of May 23, 2003, Toronto City Council adopted extended property tax payment
options for the 2003 final property taxes.

Brochures and application forms will be available starting Monday, June 2, 2003
at all Civic Centres and at City Hall. The enrolment deadline is June 16, 2003.
A hotline, 416-338-0421, has been established to answer questions. This hotline
will be available from May 30 to June 30, 2003, from 8 am to 6 pm, Monday to
Friday.

Option 1: Pre-authorized Tax Payment Program
Toronto City Council has extended the deadline to enrol in the City's
pre-authorized payment plan, which distributes the payment of the 2003 final
tax bill over six instalments from July to December 2003. Owners must complete
and return the completed application to the City by June 16, 2003. Instalments
are withdrawn on the following dates:

July 15, 2003
August 15, 2003
September 15, 2003
October 15, 2003
November 17, 2003
December 15, 2003

Option 2: One-time Alternative Payment Program
Commercial property owners may apply to have their 2003 final commercial taxes
paid over six instalments with post-dated cheques made payable to "Treasurer,
City of Toronto". Owners must complete and return the completed application and
their six post-dated cheques to the City by June 16, 2003. Instalment dates
are:

Instalment 1: July 2, 2003
Instalment 2: August 1, 2003
Instalment 3: September 2, 2003
Instalment 4: October 1, 2003
Instalment 5: November 3, 2003
Instalment 6: December 1, 2003

For properties whose entire assessment is in the Commercial property class,
post-dated cheque amounts are calculated by dividing the 2003 final property
taxes by six. To verify the post-dated cheque amounts, property owners are
encouraged to call the Hotline at 416-338-0421.

For properties that have both a Commercial assessment and a residential,
multi-residential or industrial assessment, owners must call the Hotline at
416-338-0421 to obtain their six instalment amounts.

To be eligible for both Option 1 and Option 2, 2003 interim taxes and any other
outstanding taxes must be paid in full.

Business owners requiring assistance, or exact payment amounts, may call the
Hotline (available until June 30, 2003, to answer all enquiries) at
416-338-0421, TDD users call 416-392-0719.


Media Contact
Giuliana Carbone
Director, Revenue Services
416-392-8065

Cindy Bromley
Finance Communications Manager
416-791-3167

 

 

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