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COVID-19: Additional T4 Reporting

As a result of the various COVID benefits (CEWS, CERB, and CESB) offered from the Government of Canada, the CRA has introduced additional reporting requirements on T4 slips to assist them in auditing the eligibility of individuals that applied for these programs. All employers, regardless of whether they or their employees applied for any of these benefits, will be required to provide this additional information.

 

In addition to reporting employment income in Box 14 or Code 71, you will need to report employment income and retroactive payments in the following periods:

 

  • Code 57: Employment income paid between March 15th to May 9th
  • Code 58: Employment income paid between May 10th to July 4th
  • Code 59: Employment income paid between July 5th to August 29th
  • Code 60: Employment income paid between August 30th to September 26th

 

The codes are based on the date on which the amounts were paid. For example, if an employee earned income from June 15th to June 30th and the amount was paid on July 10th, you would report that using Code 59.

 

Questions? Please reach out to our team at we_are@clearlinecpa.ca.