Although we’re still early in March, tax season is right around the corner for Canadians. If you’re looking to save some money this year and file yourself, there are several excellent tax filing programs you can check out.
Some are free, while others cost money depending on how much income you make. Unfortunately, not every option will work for everyone. Those with particularly complex or niche tax needs may be better off doing their taxes manually or through an accountant. For those with simpler needs, these tax filing programs can definitely help.
First up, Genutax. Although it looks old, it’s a pretty solid free option. I’ve used it myself the last few years, and it generally handles my needs well. Plus, it works with Canada’s Netfile system, which makes submitting your return to the CRA a breeze.
Genutax is available for free on Windows 7, 8, 8.1 and 10.
There’s also SimpleTax, which is now Wealthsimple Tax (although it’s the same software, so if you’ve used SimpleTax before, the new version should be familiar). Whether you access it from the SimpleTax or Wealthsimple websites, you’ll end up in the same Wealthsimple Tax browser-based app for filing your 2020 tax return.
You can check out Wealthsimple Tax for free here (it should work on any computer with a supported browser). It’s also worth noting that customers can “upgrade” their return to access extra features.
Aside from those options, several other tax software solutions charge money or offer a restricted feature set for free. There’s TurboTax, which starts free but charges anywhere from $19.99 to $99.99 for certain feature sets and more complex returns.
Another option is StudioTax, which used to be free but now charges a $15 licence fee, with exceptions for those who make less than $20,000 a year or for residents in Nunavut, the Northwest Territories and the Yukon.
Those looking for more options can check out the CRA’s website. The agency keeps a list of free, pay-what-you-want and paid tax software. This can be a good way to find various reliable options for different prices. You can find those lists here.
Source: CRA, RedFlagDeals
