Are you looking for the best free tax software Canada? Look no more. This article has got you covered.
There are a couple of different ways to file your taxes in Canada. The cost-effective way is a free software that doesn’t cost you a dime.
The Canada Revenue Agency (CRA) has partnered with many online tax software companies to offer free solutions for completing your tax return online.
Free tax software allows you to file your taxes from the comfort of your home without the need to purchase expensive tax software.
This article covers some of the best options for free online tax software in Canada.
What is Tax Software?
Tax software is a program designed to make filing your taxes easier. These programs are designed to streamline tax preparation by providing an easy-to-use platform that guides users through the process.
Tax software is considered by many to be the fastest, cheapest, and easiest way to file your taxes.
Also, tax software can be a great way to make sure you claim all the deductions and credits you’re entitled to without any overpayment.
These programs help you navigate the federal and state tax rules for each return and ensure that you receive all the deductions you’re due.
With one of the best free Canadian tax software you can:
- keep track of receipts
- manage your finances,
- and file your return with the IRS.
Many services even export data directly into tax software for quick, accurate returns.
Additionally, best free Canadian tax software is an excellent choice for people who want to do their taxes on their own. Being able to navigate your taxes yourself saves you money because you’ll be prepared with your taxes at tax time.
How Does Tax Software Work?
When you have to fill out a lot of information, keeping everything organized and being thorough is challenging to do.
Tax software makes the process easier by taking all of this information and putting it into an electronic file easily transmitted to the government.
The software provides step-by-step instructions and offers help if you get stuck.
When you choose from a list of best Canadian tax software, you get to benefit from its handy features and automated organization.
It also makes sure that all calculations are done correctly, saving you from costly mistakes that can end up costing you even more in penalties.
With the click of a button, it will find and fill in all relevant information on your tax form and display it for your review.
It also keeps details about your personal information and financial profile in an easily accessible, secure location so you can quickly and accurately complete future tax returns.
Free Tax Software Canada: Feature to Look Out For
Choosing free tax software in Canada can be a little overwhelming because there are so many options out there.
Here are some of the essential features to consider when choosing free tax software in Canada.
There are many programs considered as best free Canadian tax software in available in the market. But, not all these software are NETFILE-approved.
When choosing the right program, ensure that the one you choose is approved for netfiling with your tax return.
A NETFILE-approved software will enable you to e-File your tax return. It lets you file your return online using tax software that you choose and install on your computer or mobile device.
We recommend using NETFILE because it is convenient, flexible, and safe to file your income tax return.
There are several different applications available in Canada that you can use to prepare your tax returns completely for free.
However, to do this, you’ll need to ensure that the application you’re going to be using is compatible with your operating system.
By choosing a product that is OS compatible, there is no need to install special software to use it.
As long as your OS is supported, the software will run flawlessly, so you won’t have to download additional software to get it up and running.
When choosing a free tax software Canada, you should carefully read the review before signing up for it.
Not all best free Canadian tax software is created equally. Some charge a small fee that’s not disclosed at the beginning.
Therefore, when choosing which option is best for your needs, be sure to consider what other services are being offered free of charge.
Another important thing you have to remember is that the software is free, but not all free Canadian tax software are the same.
So it is essential to figure out which ones can provide you with the maximum refund. Some packages will be limited on the number of forms that are accepted by the platform.
There are lots of limitations when using one of the best free Canadian tax software. Therefore, before you download one, you need to ensure that you reduce the complexity of your tax situation.
However, you can rely on them for a simple tax return, but you better use premium tax software if your taxes are complicated.
The tax-filing process can be very complicated, and it’s best-taken care of as early as possible. The last thing you want to deal with is a small software program with a complex interface.
Make your best free Canadian tax software search convenient by finding something with a clear and easy-to-follow format.
You don’t want to spend hours figuring out how to use a program when you could be using that time to file your taxes.
There are many free tax software in Canada, and you should make sure to choose one that supports the language you require.
It is essential that you choose to use software that supports your language because not doing so may result in you having problems when filing your taxes.
The last thing you want to do is invest hours in preparing your taxes to find out that the free tax software won’t accept it.
What is the Best Canadian Tax Software ?
With so many accounting software listed as best Canadian tax software, it can be overwhelming to try and find the best one.
While you will have to pay for some things at certain companies, other options are completely free.
So, to help you save money on your taxes, we have searched for the best free tax software Canada.
Of course, Canada’s best free tax software is not just ‘free’ but also reliable, easy-to-use, and designed for personal and business use.
Comprehensively look at the top 9 free tax software in Canada. Find which one is best for you and learn how to complete your taxes online for free.
1. Wealthsimple Tax (Formerly SimpleTax)
Previously called SimpleTax, WealthsimpleTax is a Canadian software that allows you to file your taxes for free.
SimpleTax was launched in 2012 and acquired by Wealthsimple, a prominent Robo-advisor, in 2019.
There are no categories in the support you receive from WealthsimpleTax because it presently only offers one major product.
To learn more about Wealthsimple, read this comprehensive Wealthsimple Review.
- Compatible with Auto-fill My Return and CRA-certified
- Tax preparation software that is simple to use
- Private information is protected with encryption
- Guided steps and a guarantee of 100% accuracy
- Each account is allowed up to 20 returns
Do you need to complete a simple non-business tax return? CloudTax makes it easy and fast to complete your return and e-File.
CloudTax is a Canadian Revenue Agency-certified tax software firm that Nimalan Balachandran founded.
The company offers two services. CloudTax Free is a free service, and CloudTax Pro is a paid service.
- Data encryption to protect your information
- You can auto-fill your return
- You can store your tax return online
- Mobile and web access is available
3. uFile Free
uFile is tax preparation software that you may access straight online from a Windows or Mac computer, tablet, or smartphone.
Additionally, they provide a Windows version of the software that needs you to download and install it on your computer.
uFile is a free service open to all students, not regarding their financial situation. This is a free service provided in collaboration with the Canadian Federation of Students.
- There is a 20 return limit
- Over 230 slips and forms
- Automated filling
- Certified by NETFILE
AdvTax is an easy-to-use tax return software that reduces the paperwork for Canadians.
It makes the tax return process quick, simple, and stress-free for individuals, small business owners using federal and provincial income tax forms.
Smartphone, tablet and computer users can access the tax return software. Languages supported by the program include English, French, and Chinese.
- You can autofill
- Step-by-step guide
- Multi-language support
- Android, Mac, and Windows compatibility
- Certification by NETFILE
You cannot use GenuTax on a tablet or smartphone since you must download and install the software.
Additionally, the program is only available on Windows, which means that you will be unable to download and install it if you own a Mac.
The main difference between GenuTax and other free tax programs is that they allow you to prepare and file up to 20 tax returns at once for both the current and previous tax years.
Compared to other tax filing services, most let you file only a few years’ worths of tax returns.
- You can file up to 20 tax returns
- Automated filling
- Filing multiple years of taxes
- Interview in steps
Among online tax preparation software in Canada, TurboTax is the most popular.
While TurboTax offers free, standard, premium, and self-employed software versions, the free version covers all the main bases and is recommended for simple tax returns.
While TurboTax provides free, basic, and premium software, the free version includes all of the essentials and is suggested for uncomplicated tax returns.
TurboTax works on a category of devices, including smartphones.
- Certification by NETFILE
- Free returns up to 20 times a year
- My Return Auto-Fill
- Refund guarantee at maximum
- Absolute accuracy guaranteed
- Personal information is protected by TLS encryption
- Quebec has access to it
7. H&R Block
H&R Block is one of the largest providers of tax software in the world. A free version is available for users who want to file any tax return, regardless of its complexity.
You can use the Auto-fill feature to import some of your tax statements from either CRA or Revenue Quebec. It walks you through each step of the filing process step by step in a logical and easy-to-follow manner.
The Online Help Centre of the site has answers to many common questions that you may have. Upgrade to one of the paid tiers if you need more personalized help and unlimited tech support.
- Guideline tailored to your needs
- It’s smart to search
- Automated filling
- Optimizing returns automatically
Canadians have been using StudioTax since 2004 to file their taxes. It is the pioneer free tax software in Canada.
However, it is not a cloud-based application. Users can download the application to their Windows, Mac, iOS, or Android device.
StudioTax may be a better option if you are concerned about the security of your personal information when working with an online application.
Registration, providing your email address, or providing your credit card information is not required.
You can use it for free, but donations are welcome if you would like to support the website by doing so.
- There is a NETFILE certification
- Income restrictions do not apply
- You are allowed to file up to 20 tax returns
- Québec has it, but there is no Mac version
- Both simple and complex returns can be processed with it
In EveryTax, your taxes will be automatically filled out for you by the software based on the information you enter.
Tax return preparation is done by Canadians each year using EachTax. You can submit your federal & provincial tax returns absolutely free, easily and securely.
Those who own rental properties and self-employed people are among the customers of EachTax. EachTax offers both a free and a paid version.
- Automated filling
- An error-checking system is built-in
- Document filing online with security
- Amendments are re-filed.
Final Thoughts on the Best Free Tax Software in Canada
Many free tax software in Canada assist in the filing of taxes. Therefore, finding the best one can be a difficult task.
However, Canada’s best tax return software should be user-friendly and produce an accurate tax return quickly and efficiently.
Hopefully, now you know how easy it is to navigate through the process, so you receive maximum return on your refund.
Also, you can now figure out which free tax software would suit your needs the best.
FAQs on the Best Free Tax Software in Canada
What happens if I don’t file taxes?
An unpaid tax penalty capped at 25 percent is imposed if you fail to file, at a rate of 5 percent per month.
How many years can you go without filing taxes?
Anyone who exceeds two years without incurring a penalty will be penalized by the IRS.
Can I do my taxes on the CRA website?
Yes. Free tax filing is available through the Canada Revenue Agency (CRA).
At what point do you stop getting a tax refund?
There is usually no way for the IRS to send a refund for a specific tax year after the three-year window has closed.
Which is the best free tax software Canada?
It all boils down to your choice of software and what you want to achieve. This article contains detailed guide you can leverage on.
Hi, I'm Adeola Adegoke. I am a licensed Insurance Broker in Manitoba, and I hold a master’s degree in Mathematical Sciences (with a major in Financial Modeling) from the African Institute for Mathematical Sciences (AIMS), Tanzania.
Also, I have a second master's degree in Statistics from the University of Regina, and I am currently pursuing my Ph.D. in Statistics at the University of Manitoba.
The primary purpose of Money Reverie is to help everyday Canadians make better financial decisions by providing up-to-date financial news and information, reports, product reviews, and government programs.