
T5018 forms
January 18th, 2013
Are you involved in the construction industry? Â Even remotely? Â You may need to be filing the T5018 forms for your subcontractors. Â The purpose of these forms is simple: the Canada Revenue Agency knows that the construction industry is full of cash, under-the-table deals, and these forms are a useful tool in combating it.
Here is a comprehensive list of who may be considered to be involved in the construction industry. Â Check it out……. and if your business activity is on this list, be sure to get those T5018 forms filed.
The forms are due within 6 months of your year-end. Â And yes, there are very substantial penalties for failing to comply.
Filed under: Business tax, Other tips by David Boese No Comments »
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