Tax interest rates

Tax interest is compounded daily and interest rates are reset every 3 months.

Note: Provincial land tax interest rates are not reset every three months. Provincial land tax interest rates are summarized on the provincial land tax webpage. Interest rates do not apply to the Estate Administration Tax Act, 1998. Interest rates specific to rebates and refunds of the Non-Resident Speculation Tax (including as a result of a successful appeal or objection) are located on the Non-Resident Speculation Tax webpage.

Current interest rates (April 1, 2021 to June 30, 2021):

  • 5% on taxes you owe to the ministry
  • 0% on taxes you overpaid
  • 2% on taxes or refunds you are eligible for as a result of a successful appeal or objection
  • 3% on late International Fuel Tax Agreement payments
  • 3% on International Fuel Tax Agreement refunds the ministry has not paid you within 90 days

You can download the dataset to view the historical tax interest rates.

For more information

Data

Data Available

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2021-04-01 - 2021-06-30

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Additional Info

Field Value
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Geographic coverage Ontario
Geography Breakdown None
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Last Validated Date 2021-04-01
Update frequency Quarterly
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