This volume of the IFTA NewsFlash contains information on:
- the interest rates for the period July 1, 2007 to December 31, 2007
- how to obtain copies of Ontario's new Interjurisdictional Carrier's Manual
- the IFTA licence/decal renewal process, and
- information on revisions to the IFTA application.
Interest Rate & Charges
Interest Rate
The current interest rate effective July 1, 2007 to September 30, 2007 applicable to any:
- outstanding tax liability is 7%, and
- refund not paid within 90 days is 7%.
The interest rate effective October 1, 2007 to December 31, 2007 will remain at 7%.
Interest rates are reviewed every quarter.
Interest Charges – Late Returns and Payments
If a return and full payment are not received by the due date, a full month's interest accrues for any portion of a month on which tax owed remains unpaid. In other words, interest will be charged to the last day of the month in which full payment is received.
New Interjurisdictional Carrier's Manual
Interjurisdictional Carrier's Manual
Ontario recently updated the Interjurisdictional Carrier's Manual. The new manual includes:
- links to forms, websites and definitions
- additional wording on enforcement and contract agreements
- corrections based on changes to the International Fuel Tax Agreement, and
- updates to the appendices.
The new Interjurisdictional Carrier's Manual can be obtained online at ontario.ca/revenue. The online version makes it easy to link to ministry forms, the IFTA, Inc. website and definitions listed in the glossary. If you are not able to obtain the manual online, please contact the ministry at the telephone numbers listed below to arrange for a copy to be mailed to you.
2008 Annual Licence/Decal Renewal
Annual Renewal Request for Decals - IFTA 407
Your 2007 licence and decals are only valid until December 31, 2007. The 2008 Annual Renewal Request for Decals – IFTA 407 forms will automatically be mailed to all eligible IFTA registrants in October 2007. For you to be considered eligible to automatically receive the annual renewal form, you must:
- have filed all your IFTA returns
- have paid all taxes (includes penalty and interest)
- have a licence in good standing (not revoked or cancelled), and
- be in compliance with all Ontario IFTA requirements.
Please complete the IFTA 407 form and return it with proper payment by December 31, 2007. Your cheque should be made payable to the Minister of Finance. The 2008 licence and decals are valid for the registration year January 1, 2008 to December 31, 2008.
If you have not received your renewal form by November 15, 2007, please contact the ministry at the telephone numbers listed below.
Request for Additional Decals - IFTA 421
To request additional decals for either the registration year 2007 or 2008, please complete the Request for Additional Decals – IFTA 421 form. Remember to purchase additional decals for any vehicle(s) you add to your fleet during the registration year. Please ensure that you provide the form for the correct year which will show the “Expiry Date for Decals” as either December 31, 2007 or December 31, 2008.
Revisions to the Application for Registration
Application for International Fuel Tax Agreement (IFTA) Registration – IFTA 401
The application and guide have been updated to:
- provide more detailed information on the Federal Business Number (BN) and how to register a business
- allow you to select the type of authorization and tax year(s) that applies to the authorization, and
- provide a fillable application online at ontario.ca/revenue that can be sent to the ministry mailing address listed below.
For detailed instructions, please refer to the Guide for Completing the Application for IFTA Registration – IFTA 401 included with the application.
Ministry of Revenue
Phone
Toll-free: 1 866 ONT-TAXS (1 866 668-8297)
Teletypewriter (TTY) 1 800 263-7776
Fax
905 433-5680
Mail
International Fuel Tax Agreement
33 King Street West
Oshawa ON L1H 8H9
Internet
www.iftach.org
ontario.ca/revenue
© Queen's Printer for Ontario, 2002
ISSN 1206-7105
