Calgary Accountants

On August 26, the CRA announced it will be introducing additional T4 reporting requirements applicable to all employers and will involve reporting amounts paid for specific periods during 2020.

The CRA states that the new reporting will be used to validate benefit payments under the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Response Benefit (CERB), and the Canada Emergency Student Benefit (CESB). Additional details on the new reporting requirements can be found on the CRA’s COVID-19 update page.

https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/support-employers-cra-covid-19.html

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