Share with your friends

Canada: Extended relief from interest, penalties for business taxes in Ontario (COVID-19)

Canada: Extended relief from interest, penalties

Ontario businesses that miss tax return filing or tax remittance deadlines for certain provincial taxes (because of the economic consequences of the coronavirus (COVID-19) pandemic) are provided relief from the imposition of interest and penalties and that relief is now being extended by one month, to 1 October 2020.


Related content

Relief from interest and penalties for businesses that miss return filing deadlines or tax payment due dates was announced as part of Ontario’s economic and fiscal update in March 2020. At that time, it was announced that the relief from interest and penalties applied for a five-month period with regard to returns and payments due between 1 April 2020 and 31 August 2020. Read TaxNewsFlash

The tax return filing and remittance deadlines remain the same. However, the relief being provided with respect to interest and penalty assessments is now being extended by one month—to 1 October 2020—for returns and taxes that were due between 1 April 2020 and 31 August 2020.

Specifically, interest and penalties will not apply with regard to businesses between the period 1 April 2020 to 1 October 2020 if they have missed return filing or tax payment deadlines with regard 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

Read an August 2020 report prepared by the KPMG member firm in Canada

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor 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 on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal