What’s New for 2025 Returns
- The CRA has lifted the moratorium on penalties for failure to report fees-for-service payments made to Canadian-controlled private corporations (CCPCs) within the trucking industry. (canada.ca)
- T4A slips (box 048) must now include any fees-for-service over $500 in a calendar year, for trucking businesses. Failure to do so can lead to penalties. The reporting is mandatory under CRA rules. (canada.ca)
- The deadline to file those T4A slips for the 2025 tax year is February 28, 2026 (or postmarked by March 2, 2026, since February 28 falls on a Saturday). (canada.ca)
Action Steps for Trucking Businesses
- Identify suppliers paid by fees: Review your vendor roster. If you made payments exceeding $500 to any CCPCs by fees-for-service, ensure these are captured and reported correctly.
- Issue T4A slips promptly: Ensure the T4A slips (box 048) include such payments. Double-check whether your relationships (CCPC or not) qualify. It’s not limited only to CCPCs in some contexts.
- Adjust accounting systems: Update payroll and vendor payment tracking to flag payments for fees that may need reporting.
Non-Resident Withholding Tax Portal & Compliance Measures
- A new portal has been introduced for Non-Resident Withholding Tax. Non-resident tax account holders and their authorized representatives can now access tax accounts digitally by adding their non-resident tax account number to their CRA online account. (canada.ca)
- Users are encouraged to strengthen security: CRA is mandating backup multi-factor authentication (MFA) options for CRA accounts to help with accessibility and security. Losing access due to lockouts is being addressed. (canada.ca)
Penalties & Risks
- Penalties for failure to report the fees-for-service for CCPCs are now enforceable — lack of reporting may lead to fines under tax legislation.
- Missing the T4A filing deadline can result in late-filing penalties.
- Non-resident withholdings mismanaged can trigger liability for tax withheld, interest, and penalties.
Practical Checklist
- Inventory payments to Canadian payees: classify which are CCPCs, fees for service, etc.
- Set up systems to capture CCPC status of vendors and amount of payments.
- Train staff responsible for payroll and vendor payments on new requirements.
- File T4A slips on time; use the new portal if applicable.
- Ensure CRA online accounts are secured with MFA and backup methods.