Filing the T5018 Form

The Contract Payment Reporting System (CPRS) requires construction businesses to record payments they make to subcontractors for construction services and to report these payments to the Canada Revenue Agency (CRA).

If your organization files more than 50 T5018 slips for a calendar year, you must file the T5018 return by submitting the file in a format acceptable to the CRA. MYOB Acumatica gives your organization the ability to track payments made to vendors and to file the T5018 return electronically.

When filing T5018 payments, you can differentiate payments with the Services or Mixed type from payments for goods. The latter are not included in the T5018 returns.