Tax interest rates

On March 25, 2020, the Ontario government announced a five month relief period for Ontario businesses who are unable to file or remit select provincial taxes on time, due to the special circumstances caused by the coronavirus (COVID 19) in Ontario. Beginning April 1, 2020, penalties and interest will not apply to Ontario businesses that miss any filing or remittance deadline under select provincial taxes. Learn more.

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 (October 1, 2020 to December 31, 2020):

  • 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.

Contact

Ontario's Open Data Team opengov@ontario.ca

Data

Data Available

The data described here is available for you to use. [Learn more]
[See the licence for how you're allowed to use this data.]

Covers 2020-10-01 - 2020-12-31

Supporting Files

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Last Validated Date 2020-10-01
Update frequency Quarterly
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