10 Best Tax Return Software In Canada (June, 2024) - Comparewise

10 Best Tax Return Software in Canada (June, 2024)

As tax season approaches, many Canadians are gathering their paperwork and preparing to file their tax returns. While some people may file their taxes manually, there are many benefits to using a tax return service.

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Last Updated: Jun 15, 2024

Compare 9 Best Tax Return Software

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TurboTax

$20.99
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  • Free or paid versions available
  • User-friendly interface
  • Get professional, expert assistance
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H&R Block

$19.95
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895
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  • Free audit assistance
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Wealthsimple Tax

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879
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  • Free to use
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StudioTax

$15.00
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689
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  • A secure option to prepare your return
  • Available for Windows and Mac
  • Serving Canadians since 2004
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File up to 20 returns for free on Windows - Claim this offer

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731
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  • Free to use
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File smart with UFile’s 20 years of experience - Claim this offer

$19.95
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763
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  • Calculate refund in real-time
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$6.99
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712
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  • AutoFill function
  • Checklist and integrity check
  • Free online filing for low income
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File your first return for free - Claim this offer

$6.99
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667
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  • Cloud-based software
  • Detects and corrects errors or mistakes
  • Affordable pricing
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CloudTax

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839
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  • Cloud-based, file your taxes from anywhere
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10 Best Tax Return Software in Canada (June, 2024)

The best tax return software in Canada can file your taxes accurately and on time while being faster and more convenient than paper.

Some of the best tax return software in Canada include TurboTax, H&R Block, and WealthsimpleTax. Before choosing software, you must research each option because they have unique features and benefits.

Some key factors to consider when choosing tax software include the software’s accuracy, ease of use, security, and customer support.

This article will closely examine Canada’s best tax software options. We’ll explore the features and benefits of each option, as well as provide insights and recommendations based on our research and personal experience. This guide will help you make an informed decision and get the most out of your tax return service.

What is tax return software?

Tax return software is a computer program designed to help individuals and businesses file taxes more efficiently and accurately. It provides a user-friendly interface that walks users through the tax preparation process step-by-step, highlighting deductions and credits they may be eligible for.

This software can automate many calculations required to complete a tax return and check for errors and omissions. In addition, it can help ensure that tax returns are filed correctly and on time.

Tax return software is available from various companies, ranging from large software providers to smaller, specialized vendors.

How does tax return software work?

Tax return software works by guiding users through the process of preparing and filing their taxes. The software calculates the return forms and schedules when users enter their personal and financial information.

After entering income, deductions, and credits, the software immediately updates the tax return.

Tax return software can find deductions and credits the user may not have known. This is done by asking questions and urging the user to provide additional information, such as whether they donated to charity or had medical expenses.

Once the user enters their information, the software checks the tax return for errors and omissions. Any mistakes or omissions can result in penalties and interest from the Canada Revenue Agency.

After the review, the software prepares a tax return that the user can file electronically or print and mail. Tax return software simplifies and reduces the chance of errors when preparing and filing taxes.

Why you need a tax return software

There are several reasons why using tax return services can benefit individuals and businesses in Canada. Firstly, tax return software can save time and effort by automating many calculations and data entry required for tax preparation.

Users can complete their taxes more quickly and accurately without needing complex manual calculations or filling out numerous forms.

In addition, tax return software can help maximize tax refunds by identifying deductions and credits that users may need to be aware of. This can help users get the most out of their tax returns, potentially saving them money.

Tax return software can also help file tax returns accurately and on schedule. The software automatically checks the return for errors and omissions, decreasing the possibility of penalties or interest from the Canada Revenue Agency.

Tax return software can simplify tax preparation, reduce errors, and save time and money.

How much does tax return software in Canada cost?

The cost of tax return software in Canada can vary depending on the provider and the features included. Many software providers offer various pricing options, including accessible versions for basic tax returns and paid versions for more complex returns.

The cost of paid versions can range from approximately $20 to $200 or more, depending on the level of service and functionality offered.

Some providers may also offer additional features for an extra fee, such as audit protection or tax advice. It’s important to compare pricing and features carefully to determine which option best suits your needs and budget.

Best Tax Return Software in Canada

How to choose the best tax software in Canada

Choosing the best tax software can be daunting, with numerous options available in Canada. To make the best decision, it’s essential to consider factors such as accuracy, ease of use, security, and customer support. Here are some factors to consider when choosing the best tax software in Canada.

Ease of Use

Ease of use is one of Canada’s most important factors when choosing the best tax software. The software should have a user-friendly interface and intuitive design that makes it easy for users to navigate the tax preparation process.

Look for software that guides you through the tax return process step-by-step, with clear explanations of each section and the relevant forms and schedules.

Consider whether the software allows you to import data from previous returns, such as your W-2 information, T4 slip, or RRSP contributions.

Additionally, ensure that the software provides clear instructions on accurately entering your financial information and deductions. This would reduce the risk of errors or inaccuracies in your tax return.

OS Compatibility

When choosing the best tax software, it’s crucial to consider compatibility with your operating system (OS). Some tax software programs may only be compatible with specific operating systems, such as Windows or Mac OS. Therefore, checking the system requirements before making a purchase is essential.

Consider if the program is a desktop application or a cloud-based solution, as this can affect compatibility with your device.

Some tax return service providers may also offer mobile applications, allowing you to prepare and file your taxes on the go. Ultimately, choosing tax return software compatible with your OS can ensure a smooth and seamless tax preparation experience.

Availability of a Free Version

The availability of a free version is another essential factor to consider when choosing the best tax software.

Many tax return service providers offer free versions of their software, particularly for simple tax returns. A free version may provide essential features and support, such as the ability to file a T4 tax return.

Some free versions may also offer a limited number of deductions and credits. However, more complex tax returns may require a paid software version offering additional features and support. Consider your tax return needs and the free version’s features before deciding.

Languages Supported

The languages supported by tax return software are an essential factor to consider. Many tax return service providers offer software in both English and French, as both languages are official in Canada.

Therefore, checking the language options before purchasing is essential, especially if you require tax return software in French.

Additionally, some software providers may offer support in additional languages, such as Spanish or Mandarin. This can be useful for individuals who speak those languages as their first language.

Choosing software that supports your language preferences can help ensure a smoother and more efficient tax preparation experience.

CRA Certified

When choosing tax return services in Canada, it’s essential to look for software certified by the Canada Revenue Agency (CRA). This means the CRA has thoroughly examined and tested the program to assure accuracy, security, and function.

Choosing CRA-certified software can help reduce the risk of errors and inaccuracies in your tax return. This ensures that your personal and financial information is secure. Some tax return service providers may give assurances or audit protection if the CRA finds technical faults in your return.

Cost

Cost is essential when choosing the best tax return software in Canada. Many software providers offer both free and paid versions of their software. The prices range from approximately $20 to $200 or more, depending on the level of service and functionality offered.

Consider your tax return needs and budget when choosing software, as more complex tax returns may require a paid version.

Additionally, some software providers may offer additional features for an extra fee, such as audit protection or tax advice. Comparing pricing and features can help you determine which option best suits your needs and budget.

Security

Security is a crucial factor when choosing the best tax software. Look for encryption software to protect your personal and financial information and ensure it meets industry security and data privacy standards.

Additionally, consider whether the software provider offers two-factor authentication or other security measures to prevent unauthorized access to your account.

Some software providers may also offer audit protection or guarantees in case of a security breach or data loss. Choosing tax return software with adequate security measures will assist in protecting your personal and financial data during tax preparation.

Features

The features offered by tax return software are essential to consider when choosing. Some software providers may offer additional features, such as financial institutions integration, tax professionals’ access, or calculators for tax credits and deductions.

Additionally, some software may provide real-time support, allowing you to chat with a tax expert with any questions or concerns.

Consider your tax return needs and the features offered by the software before making a purchase. More complex tax returns may require additional parts, while more straightforward returns may only require basic functionality. Comparing the features offered by different software providers can help you make an informed decision.

Add-ons

Add-ons are additional features or services that may be available for an extra fee when using tax return software in Canada. Add-ons can include auditing protection, tax advice, or access to a tax professional.

Some software providers may also offer a review service, where a tax professional will review your completed return for accuracy and completeness.

Consider your tax return needs and budget when deciding whether to purchase add-ons, as they can add to the overall cost of the software. Additionally, compare the pricing and features of add-ons offered by different software providers to ensure you get the best value.

Top 10 best tax return software in Canada

We’ve compiled a list of the best tax return software in Canada based on factors like ease of use, affordability, and security. Our inventory can serve as a starting point to help you make an informed decision when choosing the best tax software. Here are the top ten options available to Canadians.

1. TurboTax

TurboTax is one of the best tax return software in Canada, compatible with Mac and PC operating systems. It is certified by the CRA and offers a user-friendly interface and various features, such as real-time support and access to tax professionals.

TurboTax is suitable for individuals, families, and self-employed taxpayers with varying levels of tax return complexity.

Key features of TurboTax

  1. User-Friendly Interface: TurboTax offers an easy-to-use interface, making it accessible to taxpayers of all experience levels.
  2. Real-Time Support: TurboTax offers real-time support from tax professionals to help users with their tax return questions and concerns.
  3. Import Tax Forms: TurboTax can import tax forms from various sources, making the tax return process faster and more efficient.
  4. Multiple Versions: TurboTax offers various versions, including a free version, to accommodate taxpayers with varying levels of tax return complexity.

Pros of TurboTax

  • Easy to use
  • Accessible support
  • Import tax forms
  • Multiple versions

Cons of TurboTax

  • It may be more expensive than other tax return software options.

TurboTax Pricing

TurboTax offers a free and deluxe plan for $20.99 per return. There’s also a premiere package for $34.99. Each progressive program provides a more comprehensive solution for complex tax returns.

2. H&R Block

H&R Block is one of the best tax return software in Canada that offers a user-friendly interface and personalized guidance through its “Tax Experts” feature.

This feature allows users to connect with tax experts via phone, video, or chat for additional support. H&R Block also offers in-person tax services for those who prefer face-to-face interaction.

Key features of H&R Block

  1. “Tax Experts” Feature: H&R Block offers personalized guidance from tax experts via phone, video, or chat.
  2. In-Person Tax Services: H&R Block also offers in-person tax services for those who prefer face-to-face interaction.
  3. Free Audit Assistance: H&R Block offers free audit assistance for any returns filed with their software.
  4. Multiple Versions: H&R Block offers various versions, including a free version, to accommodate taxpayers with varying levels of tax return complexity.
  5. Tax tools and resources: This software also offers a tax calculator and prep checklist tools.

Pros of H&R Block

  • Personalized guidance
  • In-person tax services
  • Tax tools and resources
  • Free audit assistance

Cons of H&R Block

  • It may be more expensive than other tax return software options.

H&R Block Pricing

H&R Block offers four packages: basic, deluxe+state, premium, and premium plus business packages. The price ranges from $19.95 to $79.85 per return.

3. Wealthsimple Tax

Wealthsimple Tax is one of the best free tax return software, providing a simple and intuitive user experience.

It automatically imports tax information from other sources, including the CRA and employers, to simplify the tax return process. Wealthsimple Tax is also free for all tax filers, regardless of the complexity of their returns.

Key features of Wealthsimple Tax

  1. Free to Use: Wealthsimple Tax is free, making it an accessible option for all taxpayers.
  2. Auto-Import: Wealthsimple Tax automatically imports tax information from various sources, including the CRA and employers.
  3. Smart Search: You can use a keyword search to quickly locate the necessary tax documents, deductions, and credits to complete your return.
  4. Optimize your returns: The software automatically calculates the best way to allocate charitable contributions, medical costs, and other deductions.

Pros of Wealthsimple Tax

  • Completely free
  • Auto-import
  • Simple and intuitive interface
  • Smart Search

Cons of Wealthsimple Tax

  • Lacks some of the more advanced features of other software options.

Wealthsimple Tax Pricing

WealthsimpleTax is one of the best free tax return software in Canada. There are no hidden fees or surprises; users can file their tax returns for free.

4. StudioTax

StudioTax is a CRA-certified tax return service that caters to individuals, families, and small business owners.

It is known for its ability to handle complex tax returns and offers a range of features, including multiple languages and detailed tax reports. StudioTax is available for download on Windows and Mac operating systems.

Key features of StudioTax

  1. Free to Use: StudioTax is free, making it a budget-friendly option for all taxpayers.
  2. Multi-Language Support: StudioTax supports multiple languages, including French, Chinese, and Spanish.
  3. Comprehensive Tax Reports: StudioTax provides detailed tax reports, making it an excellent option for small business owners.
  4. Multiple Versions: StudioTax offers various versions for different levels of complexity, including a version for small businesses.
  5. OS Compatibility: StudioTax is available for download on Windows and Mac operating systems.

Pros of StudioTax

  • Operates on Windows, Mac, Android, and IOS
  • Multi-language support
  • Comprehensive tax report
  • Multiple versions.

Cons of StudioTax

  • It may not be as user-friendly as other software options.

StudioTax Pricing

StudioTax was initially a free tax return software. However, the tax return service now charges $15 for a license. This payment is necessary before you can print or file your tax returns. With this license, you can fill 10 returns on the same tax per year.

5. GenuTax

GenuTax is one of the best free tax return software, offering user-friendly software for Windows and Mac operating systems. It is certified by the CRA and supports simple and complex tax returns, including self-employment income and capital gains.

GenuTax also provides a range of features, including auto-fill, optimized refund calculation, and multiple tax reports.

Key features of GenuTax

  1. Free to Use: GenuTax is free, making it an excellent budget-friendly option for all taxpayers.
  2. User-Friendly Interface: GenuTax offers first-time tax filers a simple and easy-to-use interface.
  3. Auto-Fill Feature: GenuTax has an auto-fill feature that populates your tax return with information from previous years, making the process even faster and more efficient.
  4. Optimized Refund Calculation: GenuTax uses an optimized refund calculation system that ensures taxpayers receive the maximum possible refund.
  5. Multiple Tax Reports: GenuTax offers a range of tax reports, including T4, T5, and RRSP contribution reports.

Pros of GenuTax

  • Free
  • User-friendly interface
  • Auto-fill feature
  • Optimized refund calculation.

Cons of GenuTax

  • Limited customer support
  • No mobile app.

GenuTax Pricing

GenuTax is a free tax return software that you can download from their website. It doesn’t require any fees for the basic version of its software, making it an affordable option for taxpayers.

6. UFile

UFile is a comprehensive tax return software offering a range of features to make filing easy and efficient. It is compatible with Windows and Mac operating systems and is certified by the CRA. UFile also offers a unique feature called “Auto-Filler,” which pulls data directly from the CRA to make the filing process faster.

Key features of UFile

  1. Auto-Filler: UFile’s Auto-Filler tool lets users import CRA data to speed up filing and reduce errors.
  2. Real-time refund calculator: UFile users can see their expected refund as they file their taxes. This function aids financial planning and tax comprehension.
  3. Comprehensive interview: UFile’s extensive interview process ensures consumers complete their tax forms correctly. The tax-filing process asks questions to help users gather all pertinent data.
  4. Extensive knowledge base: UFile’s comprehensive knowledge base offers tax assistance on many topics. This can help users understand their tax conditions and claim deductions and credits.
  5. Mobile app: UFile’s mobile app simplifies tax filing. The app offers mobile tax filing. The user-friendly app saves time and eliminates the need to consult an accountant.

Pros of UFile

  • Affordable pricing
  • Easy-to-use interface
  • Free version available
  • Import data from previous returns
  • Supports different types of income

Cons of UFile

  • Limited support options
  • Less comprehensive than some other options
  • Occasional software glitches reported by users
  • No in-person support is available
  • It may not be suitable for complex returns

UFile Pricing

UFile’s tax return service for individuals costs $19.99 for a basic return and $32.99 for an advanced return with extra features.

UFile’s software for small business owners ranges from $79.99 to $159.99, depending on the business’s specific needs. UFile also offers a free online tax filing service for individuals with simple tax returns.

7. AdvTax

Aclasssoft Inc.’s AdvTax is tax software approved for Canadian NETFILE and electronic filing (EFILE) systems. It’s accessible in English, French, and Chinese and covers Canada’s provinces and territories.

Their website states that filing taxes online takes between three and five minutes for an individual and ten minutes for a family.

Key features of AdvTax

  1. AutoFill function: The CRA’s online service connects to your account, storing tax information and automatically populating your tax return.
  2. Checklist and integrity check: The checklist includes nearly all tax-related items. You can prevent missing tax deductions and credits using this list with AdvTax software.
  3. Easy correction of mistakes: After filing a tax return or receiving a re-assessment notice, just take a few minutes to fix any errors and re-file.
  4. Free online filing: FREE online filing for low-income (current tax year) and 50% chance for all NETFILE subscribers.

Pros of AdvTax

  • AutoFill function
  • Checklist for data integrity
  • Easy correction of mistakes
  • Device adaptability

Cons of AdvTax

  • Limited customer support
  • The user interface could be more intuitive.

AdvTax Pricing

AdvTax offers a range of pricing plans, including a free version for basic returns. The Basic Plan costs $6.99 for a single return, while the Professional Plan costs $39.99 for unlimited returns. The Ultimate Plan costs $49.99 for unlimited returns and includes priority support.

8. EachTax

EachTax is a tax software that offers an easy-to-use and affordable solution for preparing and filing personal tax returns in Canada. It provides a simple interview-style process that guides users through the entire tax return preparation process.

Additionally, EachTax guarantees they will maximize your refund and ensure your tax return is accurate.

Key Features of EachTax

  1. Affordable Pricing ‒ EachTax offers individuals, families, and small business owners the cheapest tax software.
  2. Cloud-based Software ‒ No software download or installation is required. EachTax’s cloud-based software enables users to file taxes from anywhere.
  3. Easy-to-Use Interface ‒ EachTax provides a user-friendly interface with simple navigation for first-time users and individuals with limited tax knowledge.
  4. Customer Support ‒ EachTax provides excellent customer support through phone, email, and chat to assist users in filing their tax returns.
  5. Error Correction ‒ Each Tax software automatically detects and corrects any errors or mistakes made during tax preparation.

Pros of EachTax

  • Free to use for all taxpayers
  • Step-by-step guidance for easy tax filing
  • Simple and intuitive user interface
  • Available in multiple languages
  • Secure and reliable

Cons of EachTax

  • Limited customer support options
  • Not as feature-rich as some other tax software options
  • Only supports basic tax situations
  • No mobile app
  • Limited import options for previous tax returns.

EachTax Pricing

EachTax offers both free and paid versions of its software. The free version covers the basic tax return forms, while the paid version provides additional support and guidance for more complex tax situations. The first return costs $6.99, while consecutive returns cost $3.99.

9. CloudTax

CloudTax is a user-friendly, cloud-based tax software with a simple interface, ideal for those with basic tax returns. It is relatively affordable and offers a free option for low-income earners. Its features include a 100% accuracy guarantee, cloud storage for tax documents, and free customer support.

It also offers various payment options, including paying for the software using your tax refund for the software.

Key Features of CloudTax

  1. Cloud-based: CloudTax is entirely cloud-based, which means you can access and file your tax returns from anywhere, as long as you have an internet connection.
  2. Simple and intuitive: CloudTax has a simple and user-friendly interface that makes it easy for individuals to file their taxes independently.
  3. Affordable: CloudTax is one of Canada’s most affordable tax software options, with prices starting at just $9.99.
  4. Personalized tax advice: CloudTax offers users access to actual tax experts who can provide personalized tax advice and answer any questions.
  5. Integration with CRA: CloudTax is fully integrated with the Canada Revenue Agency (CRA) so that users can easily download their tax information and file their returns electronically.

Pros of CloudTax

  • User-friendly
  • Free for low-income earners
  • Online support is available.

Cons of CloudTax

  • Limited functionality
  • No downloadable software
  • Occasional glitches.

CloudTax Pricing

CloudTax offers a free version for basic returns. The plus plan costs $29.99 per return and comes with additional forms and schedules. They also offer a Pro version for $39.99, which includes all forms and schedules, plus priority support.

10. SimpleTax (now Wealthsimple Tax)

Wealthsimple Tax was previously known as SimpleTax. Wealthsimple acquired SimpleTax, the free, Canadian tax software in 2019. It’s an excellent service for Canadians familiar with tax requirements and has prior experience completing tax returns.

SimpleTax is one of the best tax return software in Canada that provides a user-friendly interface for taxpayers.

SimpleTax provides a free and secure online filing option that guides users through their tax returns with an interview-style questionnaire. It is optimized for the latest web browsers and works on any device with an internet connection.

Key Features of SimpleTax

  1. Interview-style questionnaire: SimpleTax guides users through their tax returns in a simplified and straightforward manner.
  2. Free to use: Unlike some tax return software, it offers all the essential features to complete and file a tax return without purchasing any upgrades or additional features.
  3. Secure online filing: SimpleTax uses industry-standard encryption to protect your personal information and prevent unauthorized access.
  4. Automatic optimization: SimpleTax uses advanced algorithms to optimize your tax return automatically, helping you get the most out of your tax deductions and credits.
  5. Donation option: SimpleTax offers a unique donation option, allowing users to donate to help support the development and maintenance of the software.

Pros of SimpleTax

  • Simple and user-friendly
  • Free to use
  • Secure online filing
  • Fast refund
  • Unlimited email support.

Cons of SimpleTax

  • No phone support
  • Advanced tax forms
  • Not ideal for complex returns
  • No financial planning tools
  • No mobile app.

SimpleTax Pricing

SimpleTax operates on a “pay what you want” model, meaning users can pay what they feel is fair for the service.

However, the company recommends a contribution of $20 for using their software, which is much cheaper than many other tax return software options. There is no additional charge for submitting the return, as e-filing is included.

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FAQs about the best tax return software in Canada

What is the best tax return software in Canada?

There are several tax return software options in Canada. Some top ones include TurboTax, SimpleTax, UFile, StudioTax, and H&R Block. The best one for you depends on your preferences and tax situation.

Which software is best for income tax returns?

The best software for income tax returns will depend on your needs and preferences. Some popular options in Canada include TurboTax, SimpleTax, and UFile. Consider the features, pricing, and ease of use when choosing software.

Is TurboTax or TaxAct better?

TaxAct is not available in Canada, so it's not a direct comparison to TurboTax. However, TurboTax is a popular tax return service in Canada and offers a variety of features and pricing options to suit different tax situations.

Is there any free tax filing software?

Yes, there are several free tax filing software options in Canada. Some popular ones include SimpleTax, StudioTax, and GenuTax. These options may have income limits or other restrictions, so check before using them.

Who gives the fastest tax return?

The Canada Revenue Agency (CRA) processes tax returns and issues refunds. The processing time can vary depending on the complexity of your tax return and the volume of returns being processed. Most tax returns are processed within two weeks, which can sometimes take longer.

How fast can you get your tax refund in Canada?

The time it takes to receive a tax refund in Canada can vary based on several factors. The CRA aims to issue refunds within two weeks of receiving your tax return. However, if your return is more complex, it may take longer to process.

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