The Ontario Ministry of Revenue today announced the interest rates that will apply to any amounts you owe to the ministry and to any amounts the ministry owes to individuals and corporations. By law, we reset the interest rates every three months.
Interest rates for October 1, 2010 to December 31, 2010
- 6% on taxes you owe to the ministry
- 0% on taxes you overpaid
- 3% 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
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