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Ontario Ministry of Finance – 2024 Interest Rates

Interest Rates

The Ontario Ministry of Finance announced today the interest rates that will apply to any amounts owed to the ministry and to any amounts the ministry owes to individuals and corporations. By law, the interest rates are reset every three months.

Interest rates for January 1, 2024 to March 31, 2024

  • 10% on taxes owed to the ministry
  • 4% on taxes overpaid
  • 7% on taxes or refunds individuals and corporations are eligible for as a result of a successful appeal or objection
  • 8% on late International Fuel Tax Agreement payments
  • 8% on International Fuel Tax Agreement refunds the ministry has not paid within 90 days

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