T4 Reporting

tax

Here’s some of the changes to T4 reporting for 2020 required by the Canada Revenue Agency (CRA).

“Other Information” Codes

Four new codes have been introduced to the “Other Information” portion of your T4 slip. In addition to reporting employment income, all employers that paid employment income to employees on dates between March 15 and September 26 2020 are required to complete these sections.

Code Pay Dates Between
57 March 15 and May 9 2020
58 May 10 and July 4 2020
59 July 5 and August 29 2020
60 August 30 and September 26 2020

The reporting of these amounts will help the CRA to review the individual’s eligibility to receive COVID-19 benefits such as the Canada Emergency Response Benefit (CERB).

The information will also assist the CRA to review and audit businesses that claimed the Canada Emergency Wage Subsidy (CEWS).

What if more than 6 codes are required?

Now that there are four more reporting requirements, employers may be required to report information in more than six codes for the same employee.  If this happens, an additional T4 slip will need to be completed.

You are not required to complete all the data on the additional T4 slip. The requirements will be:

  • Employers name and address
  • Payroll account number
  • The employee’s SIN and name
  • Completed information in the “Other Information” area (each code and amount only needs to be entered once)

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