Interest and penalties

These tables outline rates of interest and penalty tax which may be imposed if taxes are not paid on time. In special situations where circumstances beyond the control of the taxpayer prevent taxes being paid, the market rate of interest may be applied. The market rate is the total rate less eight percent.

Penalty category	Failure to take reasonable care but no intentional disregard of the law	Intentional disregard of the law
The prime rate is a % of the tax outstanding	25%	75%
Voluntary disclosure before investigation remark*	5%	15%
Voluntary disclosure during investigation remark*	20%	60%
Concealment or hindrance in establishing underpayment remark*	30%	90%

*These special rates reflect a reduction or increase where particular circumstances exist.