Taxes

T5018 for Canada—Generally available

If you operate a Canadian company or entity that's required to report payments made to contractors, you can now generate a T5018 XML file in Sage Intacct. With T5018 information in Intacct, you can quickly and easily file your T5018 with the Canadian Revenue Agency (CRA).

Details

The T5018, also known as the Statement of Contract Payments, captures the payments that you make to contractors and subcontractors in the construction industry. If construction activities and payments account for more than 50% of your business income, the CRA expects you to file a T5018 slip.

The CRA provides guidelines to determine if you need to file a T5018 slip and which suppliers you need to include. Based on their guidelines, you can enable T5018 for applicable suppliers. Payments that you make to T5018-enabled suppliers are automatically included in the XML file for the financial year in which payment occurred.

What's included in the T5018 XML file

  • Your payer information
  • Supplier details, such as the supplier business number or social insurance number (SIN)
  • Supplier contact information
  • Total amount you paid to the supplier during the reporting period

How it works

  1. Enable T5018 in Configure Accounts Payable.

    You can enable T5018 for your entire company or for individual entities. If you create all suppliers at the top level, enable T5018 at the top level.

  2. Assign Run permissions for T5018 to the users who will run the report.
  3. Enable T5018 in the supplier record for each supplier that you want to include.

    For each supplier, include either a business number or Social Insurance Number (SIN).

  4. Go to Accounts Payable > All > Reports > T5018 > T5018 report to run the report.

    Review the report to verify that the amounts are as you expect. You are now ready to export your XML file.

  5. Go to Accounts Payable > All > Reports > T5018 > Export T5018 form.

  6. Export to XML.

  7. Use the CRA's Internet File Transfer method to upload the data captured and file your T5018 with the CRA.

Permissions and other requirements

Subscription

Accounts Payable

Taxes
Regional availability

Canada
Permissions T5018 report for Canada: Run
Configuration

Accounts Payable: Enable T5018

Restrictions

  • The T5018 is for companies or entities that operate in Canada.

  • Advances are included in the T5018. Credits are not included.

  • Internet File Transfer is the supported CRA upload method.