Interest and penalties for individuals - Personal income tax

Find information about interest and penalties on a balance owing if you file or pay your taxes late, as well as how to ask the CRA to cancel or waive interest or penalties, and if you may be eligible for interest relief.

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Interest and penalties on late taxes

How interest and penalties are charged on your balance owing if you pay your taxes or file your return late

Tax instalment interest and penalty

A penalty and interest may be charged if you do not pay your required instalments, pay late or not enough

Cancel or waive penalties or interest

Make a request to cancel or waive penalties or interest charges on your balance owing

False reporting or repeated failure to report income

Penalties for failing to report income, false statements, or omitting information on your tax return

COVID-19 related interest relief on 2020 taxes Archived

Interest relief on 2020 taxes owing until April 30, 2022 if you met the conditions and received COVID-19 benefits in 2020

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