Extending the Gas and Fuel Tax Cuts

• The Bank of Canada’s high interest rates and inflation continues to put pressure on household budgets across Ontario.
• To put money back in people’s pockets, the Ontario government is proposing to extend the gasoline and fuel tax rate cuts for an additional six months to June 30, 2024 through the Fall Economic Statement.
• With this extension, Ontario households on average would save $260 since this tax cut was first introduced.
• The proposed extension to the gasoline and fuel tax rate cuts builds on the early actions the government took to keep costs down for the people of Ontario, including:
  • Saving vehicle owners $1.1 billion per year, totalling $3.3 billion since March 2020, by refunding licence plate renewal fees and stickers paid since March 2020.
  • Eliminating local transit fares on most local transit agencies in the Greater Golden Horseshoe for riders connecting to and from GO Transit, through the One-Fare Program, making it more affordable and convenient for families and workers to commute.
  • Providing an estimated $115 million through the Ontario Seniors Care at Home Tax Credit this year to over 200,000 low- to moderate-income senior families with eligible medical expenses.
• Our government will provide the people of Ontario with an update on the plan for Building a Strong Ontario through the release of the 2023 Fall Economic Statement on November 2.