TICO to waive renewal fees and Comp Fund payments April 1, 2021 - March 31, 2022

TICO to waive renewal fees and Comp Fund payments April 1, 2021 – March 31, 2022

TORONTO — TICO is offering registrants additional financial support in the form of a second fee waiver.

“We recognize that the impact of the COVID-19 crisis continues to cause registrants severe financial strain,” says TICO in its latest Registrar Bulletin.

“We are pleased to share that the Ontario Government will be providing new funding to the Travel Industry Council of Ontario (TICO) so that we can assist travel agents and wholesalers through these difficult times. This financial support will also allow TICO to maintain a focus on its important consumer protection mandate.”

With the new financial support, says TICO, travel agents and wholesalers will see their annual registration renewal fees and Travel Industry Compensation Fund payments (Form-1) waived April 1, 2021 – March 31, 2022. 

“This will allow registrants to focus on their priority business needs without the added financial stress of meeting certain payment obligations with TICO,” notes the bulletin. The waiver applies to all registrants registered with TICO as of March 31, 2021.

Registrants subject to the waiver are still required to complete and submit their Registration Renewal Form (without payment) and their Form-1 (without payment) by the filing deadline.

 

 

“The travel industry has been hard hit during the course of this pandemic. That is why we are providing additional funding to ensure that TICO is able to continue their operations. This funding will also enable TICO to provide some support to registrants through the waiver of registrant fees,” said Lisa Thompson, Minister of Government and Consumer Services. 

“We all look forward to a time when we can once again enjoy travel with friends and family; that means ensuring travel agents and wholesalers are supported as our economy recovers,” added Thompson.

Says Richard Smart, TICO’s President and CEO: “TICO appreciates the continued support of the Ontario government in the provision of financial assistance. We remain focused on maintaining consumer protection and effective regulation of Ontario’s travel industry despite the persistent and extraordinary challenges brought on by COVID-19.

“We value the opportunity this assistance affords in enabling us to continue supporting our registrants during this difficult time,” said Smart.

This financial relief is in addition to a similar fee waiver for registrants implemented last year for fees owing between April 1, 2020 and March 31, 2021.

As noted in the bulletin, “The Ontario government and TICO recognize that registrants may require additional financial support during the pandemic to assist with business recovery efforts. This fee waiver is in addition to other COVID-19 relief programs provided by the province which can be found here.”