Section 172 reads:
"Racing, stunts, etc., prohibited
172. (1) No person shall drive a motor vehicle on a highway in a race or contest, while performing a stunt or on a bet or wager. 2007, c. 13, s. 21.
(2) Every person who contravenes subsection (1) is guilty of an offence and on conviction is liable to a fine of not less than $2,000 and not more than $10,000 or to imprisonment for a term of not more than six months, or to both, and in addition his or her driverÃ¢Â€Â™s licence may be suspended,
(a) on a first conviction under this section, for not more than two years; or
(b) on a subsequent conviction under this section, for not more than 10 years. 2007, c. 13, s. 21."
Therefore the fine cannot be $1000. You need to check whether the plea deal is in fact under Section 128 which is Speeding. If it is, then yes, that's a good deal.
In regards to the years ahead the amount of the fine is irrelevant. A conviction for stunt/race will have very serious implications for the cost of your insurance, that is if you can find someone who will insure you. A conviction for Speeding will have much less effect.
I presume you have received disclosure ?
You may just want to double check what the actual plea deal is with your paralegal cause thereÃ¢Â€Â™s a few details not adding up. First, itÃ¢Â€Â™s not up to the police to offer you a reduced fine, itÃ¢Â€Â™s up to the Crown. The officer may be willing to cut you a break, but thatÃ¢Â€Â™s irrelevant in Court unless the Crown agrees. Second, as Argyll pointed out, the fine being offered is below the minimum. While Courts do sometimes hand out fines below the minimum, thereÃ¢Â€Â™s no guarantee of it. The Crown could suggest a reduced fine, but the Justice of the Peace would still need to agree to it. IÃ¢Â€Â™ve personally never seen a Crown ask for a fine below the minimums prescribed by law.
Unfortunately there are many paralegals that really do not want to even consider going to trial for you, and are only looking at getting several hundred dollars from you to ask the prosecutor for a deal that you could have gotten yourself. Ask the paralegal to go over your disclosure with you and show you why the prosecutor has a good case against you and why you probably can not win at trial.
In fact I would be getting a second opinion from another paralegal or lawyer asap.