I have sub-contractors. What Slips do I need to prepare?

If you operate in the Construction Industry, the CRA form T5018 Statement of Contract Payments, is required to be completed showing the monies disbursed to each contractor. If they are a business, the slip will need to reflect the business name, mailing address and business number. If you’ve paid an individual, then the slip will need to reflect their full name, mailing address and Social Insurance Number. If you operate outside of the construction industry, then the same information applies and needs to be reported on a T4A Slip.