As outlined in the approved Ontario Tire Stewardship (OTS) Used Tires Program (UTP) Wind-Up Plan (WUP), the reconciliation of any outstanding historic deficit amounts relating to the Off the Road (OTR) Tire program 2009-2012 is to take place in 2019 as part of the wind-down of OTS. At the time of approval of the WUP, OTS forecast that the remaining historic OTR deficit at the wind-up of the corporation would be approximately $1.5 million.
Through the development and implementation of the WUP, OTS continued the existing measures to pay down the historic OTR deficit to the end of 2018. As a result of these measures, the remaining OTR deficit at December 31, 2018 was reduced from the amount forecast in the WUP and is standing at $1.14 million.
This notification is to confirm that as a result of the resolution of certain Input Tax Credit matters relating to the relevant period, OTS does not intend to invoice OTR tire Stewards for any amount relating to this historic deficit.
Accordingly, we have removed the notice on our website that referenced that invoices to OTR Stewards would be delivered on March 31, 2019. Further information will be made available to Stewards when we have finalized our wind-up financial projections.
Should you have any questions regarding this communication or any aspect of the WUP please do not hesitate to contact OTS at email@example.com or by phone at 1-888-687-2202. We look forward to continuing to work with you as we deliver the approved WUP.
Resource Productivity and Recovery Authority