CRA has released new reporting guidelines for the 2020 T4’s and have requested additional information for each employee to help validate the various benefits paid related to Covid-19. In addition to reporting the gross employment income the employer must report the employment income paid to each employee in four specific periods:

March 15 to May 9
May 10 to July 4
July 5 to August 29
August 30 to September 26

During preparation of your T4s we will be requesting additional information as needed to ensure that your T4s are completed correctly. In addition to the above requirements for T4s, if you utilized the 10% temporary wage subsidy for employers you are required to file an additional form, PD27, to self report and reconcile the subsidy claimed from March 18, 2020 to June 19, 2020.

If you need assistance preparing this form or have any questions on the additional T4 reporting requirements please contact us.