What is the requirement of the minimum amount per anum for issuing T4A slip? Is it 500.00?
If it’s an employee you need to issue T4.
But if it a service provider with more than $500 fee in a year yes you need to issue T4A (Self-employed) . In construction business you to issue T5018 instead of T4A (if more than $500).
Thank you so much
From Income Tax Folio, S1-F2-C3: Scholarships, Research Grants and Other Education Assistance.
Amounts reported on a T4A or T4E Slip
3.106 Under subsection 200(2) of the Regulations, every payer of a research grant, scholarship, fellowship, bursary or prize (other than a prescribed prize) **must report the amount on a T4A Slip**, Statement of Pension, Retirement, Annuity and Other Income. Every payer of an amount that is required by paragraph 56(1)( r) to be included in computing a taxpayer’s income must report the amount on either a T4A Slip or a T4E Slip, Statement of Employment Insurance and Other Benefits, as appropriate.