07/11/2025
We can help if you receive a T5018 and track your expenses at any point.
🧾 Received a T5018 Slip? Here’s What You Need to Know
If you’re a subcontractor in the construction industry, you may receive a T5018 Statement of Contract Payments from a contractor. This slip is not a mistake—it’s part of the CRA’s effort to ensure income transparency and reduce underground economic activity.
🔍 What Is a T5018?
The T5018 slip reports the total payments a contractor made to you for construction services during the calendar or fiscal year 1. It’s not a T4—you’re considered self-employed, and this income must be reported on your tax return.
🛠️ Who Gets One?
You’ll receive a T5018 if:
You’re a Canadian resident subcontractor.
You were paid more than $500 (excluding GST/HST) in a year.
The payer’s primary business is construction (over 50% of their income).
đź’ˇ What Should You Do With It?
Keep it for your records—you may not receive a copy, but the CRA does.
Report the income on your T2125 (Statement of Business or Professional Activities) when filing your taxes.
Track your expenses—you can deduct eligible business costs to reduce your taxable income.
