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Here’s what you get with the free TurboTax software: You can use TurboTax on any device including smartphones.
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While TurboTax offers free, standard, premium, and self-employed versions of their software, the free version covers the basics and works well for simple tax returns. TurboTax is one of the most popular online tax return software in Canada. You can learn more about the platform in this WealthsimpleTax review.
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There’s also an option to upgrade to a Premium account if you would like to get CRA audit support. That said, you are not obligated to do so. This software syncs with all the major cryptocurrency exchanges including Wealthsimple Crypto, Bitbuy, NDAX, Shakepay, and 300+ others.Īfter submitting your return, there’s a prompt to make a small donation if you want. If you traded crypto in 2021, Wealthsimple Tax can help you calculate any capital gains or losses and include this in your tax filing.
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Typically, the free version can handle most tax situations. Here are some of the tax software certified by the CRA for NETFILE tax return submissions. They all offer free options to file your taxes and some have paid versions as well.
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For questions relating to using File My Return, call CRA at 1-80.
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Individuals who qualify for this service receive an invitation letter in February with instructions on how to proceed. Starting in 2018, CRA now offers a “File My Return” service that lower-income Canadians can use to file their income tax and benefit return for free.
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If you are not comfortable with using NETFILE or have a complicated tax return and require professional help, an accountant or tax preparation firm can use EFILE to file your tax return for a fee. Tax return submissions through NETFILE go directly to the CRA in a secure format.ĮFILE is an electronic submission service used by tax preparers to transmit your income tax return information to the CRA.
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In order to prepare your online tax return using NETFILE, you must use a CRA-certified tax preparation software such as TurboTax and several others. NETFILE is an online transmission service provided by the Canada Revenue Agency (CRA) for individual filers to send in their tax returns without needing paper tax forms. There are two main ways to file your taxes online in Canada i.e.