T1204 - Government service contract payments
The T1204 slip is the summary of government service contract
payments information issued by all federal government departments,
agencies and Crown corporations to an individual, partnership,
small business or corporation that provides goods or services under
contract.
Although the program does not generate the T1204, you declare
your income as self-employment income in the program using Form
T2125, so that you can claim eligible expenses in return for
contract payments regarding this self-employment income.
To do this:
1- On the "Left side menu on the interview tab", select
"Interview setup" and on the screen to your right, in the
»Self-employment income" icon, check the box
»Self-employment business income" and then click
"Next "at the bottom of the page.
2- Return to the "Left side menu on the Interview tab"
select "Self-employment income" on the page to your
right.
3- Then, on the right-hand side, among the different options
available (business income, professional income, commission income,
etc.), select the one that applies to your situation.
4- Complete the page for "Identification of the company",
enter your fiscal year as well as the classification code of your
company according to the North American Industry Classification
System (NAICS). To find your NAICS code, you
must click on the question mark "?", a window will pop up on
the right-hand side of the field, with the complete list of the
NAICS codes, to allow you to determine the code associated with
your company's field of activity.
5- If applicable, do not forget to include your identification
numbers for both the federal and Quebec governments.
6- Subsequently, after entering your company's identification
information, a sub-menu on the "Left side menu on the Interview
tab" will appear in order for you to enter the applicable
information in "Income, Expenses", "Motor vehicle
expenses", "Home office expenses" and so on
7- In the section "Income, expenses", please enter the
payment amount received in the field "Other income
(specify)". This field is located at the bottom of the
"Business income" section.
Gross income will be reported on line 13499 and net income on
line 13500 of the federal return, while for residents
of Quebec, income will be reported on line 164.
For more information, consult Guide T4002, Business and
Professional Income, by clicking on the link below:
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4002.html
ID: 20200211112654DE.xml
Webpage: KPA320-20200211112654DE.htm
