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Ontario further extends interest & penalty relief

Ontario further extends interest & penalty relief

Certain provincial tax relief is being extended by one month, to October 1, 2020

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Ontario has announced an additional one-month extension to its interest and penalty relief period. As a result, any outstanding returns and taxes that would have been due between April 1, 2020 and August 31, 2020 (i.e., during the previously announced relief period) can now be filed by October 1, 2020, without incurring penalties or interest. On October 2, 2020, regular filing and payment activities will resume and regular penalties and interest apply.

While the province notes that tax filing and remittance deadlines in Ontario remain the same as usual, penalties and interest will not apply to Ontario businesses that have missed their filing or remittance deadlines for certain provincial taxes, between April 1, 2020 and October 1, 2020.

This relief applies to the following taxes:

  • Employer health tax
  • Tobacco tax
  • Fuel tax
  • Gas tax
  • Beer, wine and spirits tax
  • Mining tax
  • Insurance premium tax
  • International fuel tax agreement
  • Retail sales tax on insurance contracts and benefit plans.

Background

The province originally announced interest and penalty relief for missed filing or remittance deadlines for these provincially administered taxes, as part of its economic and fiscal update on March 25, 2020. At that time, the province announced that the relief would apply between April 1, 2020 and August 31, 2020 (see TaxNewsFlash-Canada no. 2020-30, "Highlights of Ontario's 2020 Economic and Fiscal Update").

For more information, please contact your KPMG advisor.

Information is current to August 18, 2020. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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