The Revenue and Financial Services Act and The Revenue Collection Administration Regulations provide for the application of penalty and interest charges to late and outstanding taxes to ensure that taxes are collected, remitted and paid, on time. Please refer to Information Bulletin GENERAL-1, Penalty and Interest Charges for details.
When extraordinary circumstances prevent you from meeting your tax obligations, cancelling or waiving certain penalties and/or interest may be possible by completing the Penalty and Interest Waiver Application.