T5018 Slips – Canada

Businesses in Canada are required by law to report payments to subcontractors for construction services to the Canada Revenue Agency (CRA) within six months of the end of the reporting period. This topic describes the purposes of T5018 slips.

ProContractor includes support for the following forms:
  • T5018 Statement of Contract Payments – T5018 slips list total payments made to each subcontractor for construction services. You are required to create a T5018 slip for every subcontractor that meets the threshold established by the CRA.
  • T5018 Summary of Contract Payments – The T5018 Summary serves as cover sheet when you submit paper copies of T5018 slips to the CRA. It includes the number of T5018 slips to be submitted as well as total amounts reported on the slips.
Note: You must choose the reporting period you will use for filing T5018 slips with the CRA, which will determine the due date for reporting to the CRA. You can specify the reporting period in ProContractor in Vendors > Setup > Accounts Payable Settings. In the General tab, select either Calendar Year or Fiscal Year in the Vendor Compensation Reporting Period field.

You don't have to give subcontractors copies of their T5018 slips. If you do give copies to subcontractors, you don't have to include your federal identification number.

For steps on generating T5018 slips, see Generate T5018 Slips (End-of-Year Vendor Tasks for Canada).