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T5018 - Statement of Contract Payments

T5018 - Statement of Contract Payments

If you are an individual, partnership, trust, or corporation involved in construction activities which provide your primary source of business income and you make payments to subcontractors for construction services, you must report amounts paid or credited (whether by cheque, cash, barter, or offset against an amount owing).

If more than 50% of a business' income-earning activities are derived from construction, its primary activity is deemed to be construction. In many cases there are businesses which have significant amounts of construction done for them or by them, but this activity is not their principal business and they do not have to report under the Contract Payment Reporting System (CPRS).

The T5018 is part of the Contract Payment Reporting System (CPRS)

AvanTax eForms Software
AvanTax eForms software provides you with everything you need to prepare, print & efile your T5018 returns, as well as many additional return types. Whether preparing just a few slips for a single company or tens of thousands of slips for many companies, AvanTax eForms will help you to meet all your tax slip reporting requirements.
Avantax Filing Services
Would you like to avoid the stress of preparing and efiling your returns yourself? Let Avantax Filing Services do the work for you! Simply complete one of our Excel Templates and we'll convert your tax slip data into XML; print & distribute your recipient slips and process & efile your returns with CRA & Revenu Québec. Call us and see how we can help you!

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Relevant links to the CRA web site: