For the 2020 tax year, the Canada Revenue Agency (CRA) will be introducing additional reporting for the T4 slip, Statement of Remuneration Paid.
Additional reporting requirements will apply to all employers, and will help the CRA validate payments under the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Response Benefit (CERB), and the Canada Emergency Student Benefit (CESB).
For the tax year 2020, in addition to reporting employment income in Box 14 or Code 71, the following new other information codes will be required when reporting employment income and retroactive payments:
Eligibility criteria for the CEWS, CERB, and CESB is based on employment income for a defined period. The new requirement means employers should report income and any retroactive payments made during these periods.
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