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T5018 Contractor Statements

#1 User is offline   budget Icon

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Posted 21 January 2010 - 04:51 PM

Is it necessary to issue T5018 slips to contractors not associated with the construction business. After all, businesses sub-contract for all kinds of things outside the construction industry.
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#2 User is offline   Maggie-G Icon

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Posted 21 January 2010 - 05:39 PM

CRA webpage, Contract Payment Reporting System (Fact Sheet) should answer your question. Here's the link:
www.cra-arc.gc.ca/nwsrm/fctshts/1999/m12/cnfct-eng.html

Maggie-G
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Posted 28 January 2010 - 12:41 AM

View PostMaggie-G, on Jan 21 2010, 10:39 AM, said:

CRA webpage, Contract Payment Reporting System (Fact Sheet) should answer your question. Here's the link:
www.cra-arc.gc.ca/nwsrm/fctshts/1999/m12/cnfct-eng.html

Maggie-G


Thanks for the reply, however, that fact sheet over 10 years old. I was wondering if there are some more recent guidelines. I'm also curious how accounting practices are handling these.
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