CRA adds T4 reporting requirements to validate benefit payments

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The Canada Revenue Agency (CRA) is requiring Canadian employers to provide additional information on T4 slips for the 2020 tax year as part of its efforts to track pandemic-related benefits.

The CRA is looking to “validate payments” made under the Canada Emergency Response Benefit (CERB), the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Student Benefit (CESB) programs.

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Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Rudy Mezzetta

Original Article Posted on:  August 27, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/cra-adds-t4-reporting-requirements-to-validate-benefit-payments/

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