Please be advised that new/additional T4 reporting requirements are in effect for the 2020 tax year, and all employers that issue T4s must follow these new requirements.

For the 2020 tax year, in addition to reporting employment income in Box 14 or Code 71, employers must use new codes in the ‘other information’ section of employee T4 slips when reporting employment income and retroactive payments for the following periods:

  • Code 57: Paid employment income during – March 15 to May 9
  • Code 58: Paid employment income during – May 10 to July 4
  • Code 59: Paid employment income during– July 5 to August 29
  • Code 60: Paid employment income during– August 30 to September 26

 If F. H. Black & Company is preparing T4 slips on your behalf, please provide the following information for each of your employees:

  • Gross wages paid in the 2020 calendar year
  • Gross wages paid during the period of March 15 to May 9, 2020
  • Gross wages paid during the period of May 10 to July 4, 2020
  • Gross wages paid during the period of July 5 to August 29, 2020
  • Gross wages paid during the period of August 30 to September 26, 2020

 Temporary Wage Subsidy (“TWS”) reporting to accompany T4 filing with CRA:

 If you were eligible to take advantage of the TWS and have reduced your payroll remittances accordingly during the year, you must complete and submit the attached form PD27, for each of your payroll program accounts (RP).  CRA will use the information from this form to reconcile the TWS on your payroll program accounts and ensure you do not receive a discrepancy notice.

 If you were eligible for TWS but have not reduced your payroll remittances during the year,  you can complete and submit the attached form PD27, for each of your payroll program accounts (RP) including a calculation of the eligible TWS amount. Indicate in the Additional Comments section of this form, how you would like to access the eligible (unclaimed) TWS amount.

 If F. H. Black & Company is preparing your T4s this year, we will prepare and file this form on your behalf. For accurate reporting of TWS, please provide us with the following information:

  • Pay period dates occurring during the timeframe of March 18 to June 19, 2020
  • Number of eligible employees paid during each of the identified pay periods
  • Gross wages paid to eligible employees during each pay period
  • Total income tax deducted from eligible employees per pay period
  • Total CPP contributions (employer + eligible employees) per pay period
  • Total EI contributions (employer + eligible employees) per pay period
  • Dollar value of wage subsidy claimed (reduction to source deductions remitted to CRA)

If you have any question on how this reporting affects you or need assistance in preparing your T4 slips, do not hesitate to contact us.

F.H. Black & Company