Preparing 2020 T4 Slips

Remember these changes due to Covid-19 when preparing 2020 T4 slips:

The COVID-19 pandemic has impacted the work arrangements for a large number of employees during 2020. As a result, the CRA has adopted new positions for certain employer-provided benefits which are effective from March 15, 2020 to December 31, 2020.

– Where an employer pays for, reimburses, or provides a reasonable allowance for additional commuting costs incurred by an employee during the pandemic that are over and above their normal commuting costs or that enable the employee to perform their employment duties from home, there will not be a taxable benefit.
– When a regular place of employment is closed due to the pandemic, the CRA will not consider an employer-provided parking spot to be available for an employee’s use and, as such, the employer-provided parking will not result in a taxable benefit.
– Where an employer pays for or reimburses up to $500 of computer or home office equipment (per employee) to enable an employee to carry out their employment duties, there will be no taxable benefit.