How to choose the right Canadian tax return software for you

Formerly SimpleTax, Wealthsimple Tax is one of the newer income tax filing programs out there, and it seems to combine the best features from other tax return software to make a well-rounded program. Wealthsimple Tax offers a web-based version, can be used on a local Windows or Mac desktop, and is available on mobile via the Apple App Store and Google Play. It features a unique pay-what-you-want structure: it’s technically free, although you might opt to donate something to help support the creators.

Despite its name, Wealthsimple Tax can handle more complicated tax scenarios including self-employment, investment income and, crypto trading. It will automatically import your transactions, find market prices at the time of your trades, and match transfers between over 300 supported wallets and exchanges to calculate your crypto gains/losses.

Wealthsimple Tax also supports Quebec tax returns and includes a full translation to French, something not very common in free income tax software. It has one of the best user interfaces out there, cleaner and more user friendly than that of, say, StudioTax. Similar to StudioTax, you can NETFILE the maximum allowed 20 tax returns for free. Data you submit is protected, as everything is transmitted using encryption.

TurboTax offers both free and paid versions, and works with Windows, Mac, Android and iOS. One notable feature of the free version is it has no income limit (unlike some competing free tax prep programs). Although you can import your tax information with CRA’s Auto-fill My Return, you’ll have to purchase the paid version of the program if you want to transfer your tax information from last year. This is a bit of a bummer.

However, for most people the relatively inexpensive Deluxe version is worthwhile, at just $20.99. Not only does it allow you to save and transfer tax information from past returns, it will also search for over 400 additional tax credits and deductions to see if they’re applicable. That has huge potential to maximize your return.

The TurboTax interface has evolved over the years from presenting overlong forms to presenting more palatable, user-friendly segments, where you’re only asked to complete sections relevant to you. Everything is well organized by tabs, and its user support is excellent in the event that you run into issues (though, again, high-level customer support is only available for paid versions).

H&R Block allows you to file your income tax return, even if you’re self-employed or have investment income. The offer is available to Quebecers as well.

Taxes can be filed online with NETFILE using a Windows or Mac computer, or Android and iOS mobile operating systems. If your tax situation is more complicated, there are several add-ons you can purchase, including Audit Protection and Expert Review.

H&R Block’s interface is well conceived. The opening screen is organized into five logical tabs: get started, quick entry, prepare, wrap-up and file. On each screen you’re only asked a few questions at a time to help you move through the software at a manageable pace. The status report in on the left-hand side of the screen helps you monitor where you’re at monetarily in terms of a tax refund or balance owing.

StudioTax has been helping Canadians file their income tax returns for over a decade.

For most of that decade, it had been free, and it still is for those in the Yukon, Northwest Territories, and Nunavut as well as for those with income under $20,000. But for the rest of us it costs $15 for filing a maximum of 20 returns.

Though it’s generally considered to be a streamlined program without a lot of bells and whistles, it does accommodate those with self-employment and rental income.

The program’s Quick Start Wizard progresses in a logical way, prompting users to enter their information step by step. If you’ve been filing your taxes with StudioTax for a while, you can import your tax information from the previous year, helping you save time. StudioTax lets you file up to 20 returns — the maximum for NETFILE — for a reasonable price.

It used to only work locally via a Windows or Mac desktop, but now there’s a mobile version for iOS and Android as well. Design-wise StudioTax might benefit from a facelift, but it works pretty well for what it is.

UFileFREE has a web-based version, or can be used locally on a Mac or Windows desktop. There is currently no mobile version.

In order to file your taxes for free with UFileFREE, you must meet one or more of the following criteria:

You’re filing your tax return for the first time

Your total family income is under $20,000

You’re a post-secondary student

You’re a dependent

You’re in receipt of Guaranteed Income Supplement

Your only income is from T4 tax slips.

If you don’t qualify under at least one of the above, you can use a more robust version of the program, but you’ll have to pony up the cash for it.

AdvTax is able to handle a variety of tax situations, such as single filers, those filing as a family, and self-employed individuals. It also supports Quebec tax returns, a nice and unusual bonus for a free income tax software.

It’s a truly free rather than ‘freemium’ income tax software—users won’t be required to pay for any higher-level functionality. Users can download a return once it’s complete and upload the PDF files to the CRA NETFILE. Although the software interface itself is decent, the website is very text heavy and could use a redesign. Those filing simple tax returns should be able to complete their return with AdvTax in about five minutes.

The software works with Windows, Mac, Android and iOS operating systems. In terms of languages, it supports English, French and Chinese.

GenuTax walks users through the tax filing process with an easy-to-understand interview, allowing users to claim the tax credits and deductions they’re entitled to. Like Wealthsimple Tax, it’s technically free, though patrons are encouraged to donate something in order to support the program’s developers.

GenuTax can process most tax situations, including investment income, rental properties and small businesses. It’s a multiyear income tax software, meaning that in addition to filing your tax return for the current year, you can go back as far as 2008 if you’d like to file a previous year’s tax return. Users are able to file the maximum 20 individual tax returns.

The program works with Windows operating systems only, and is currently not available for Mac or mobile.

EachTax meets the needs of individuals with simple tax returns as well as those with more intricate situations, including the self-employed and those with rental properties. It’s Windows and Mac compatible and features a number of attractive features, such as auto filling via tax data query, express notification of assessment and built-in error checking.

EachTax is free for individuals that meet one or more of the following criteria:

They’re new customers (regardless of income level)

They’re new to Canada

They’re seniors (70 years or older)

They earn $25,000 or less in annual income

If you don’t fall into one of those groups, the price is still relatively cheap: $6.99 for the first tax return filed with the program and $3.99 for each subsequent tax return. As with most free income tax programs, Quebecers are out of luck.