Industry reminder:
The CRA has lifted the moratorium on penalties for failing to report fees for services for the 2025 tax year and subsequent tax years. Businesses in this sector will now be assessed penalties if they fail to report payments for services exceeding $500 in a calendar year that are made to a Canadian-controlled private corporation in the trucking industry. These payments must be reported to the CRA in box 048 – fees for services – of the T4A slip by February 28, 2026. Since this date falls on a Saturday, an information return will be considered on time if the CRA receives it or it is postmarked on or before March 2, 2026.
A business is considered part of the trucking industry for these purposes if more than 50% of its primary source of income comes from trucking activities. Carriers should ensure their reporting practices are in line with the updated expectations to avoid potential penalties, support fair competition, and ensure compliance with federal tax obligations.
These changes build on broader efforts announced in Budget 2025 to strengthen enforcement and compliance programs within the trucking sector, including additional funding for CRA initiatives related to personal services business arrangements and enforcement of reporting requirements.
For more details, members are encouraged to review the CRA’s materials here:
See the CRA’s video and transcript on reporting fees for service transactions in the trucking industry here: https://www.canada.ca/en/revenue-agency/news/cra-multimedia-library/businesses-video-gallery/reporting-fees-service-transactions-trucking-industry.html
See CRA replies to industry FAQ here: https://cantruck.ca/cta-updated-qa-from-cra-following-t4a-webinar/