Are you searching for the best free tax software in Canada? Look no further. Filing your taxes online has never been simpler, thanks to various tax software options available to Canadians.
There are a few ways to file taxes in Canada, with the most cost-effective option being free software provided through partnerships between the Canada Revenue Agency (CRA) and online tax software companies. This allows you to complete your tax return online without any expense.
For the 2022 tax year, the filing deadline is April 30, 2024. If you’re self-employed or a sole proprietor, you have until June 17, 2024, to submit your income tax and benefit returns.
Using free tax software enables you to comfortably file your taxes from home, without the need to buy expensive software.
In this article, we’ll explore some of the top choices for free online tax software in Canada.
The 9 Best Free Tax Software in Canada
- Wealthsimple Tax (Formerly SimpleTax)
- CloudTax
- uFile Free
- AdvTax
- GenuTax
- TurboTax Free
- H&R Block
- StudioTax
- EachTax
What is Tax Software, and How Does it Work?
Tax software is a user-friendly solution designed to streamline tax preparation, guiding users through each step effortlessly.
Tax software navigates the intricate landscape of federal and state tax regulations for each return, guaranteeing the rightful receipt of all applicable deductions. The advantages of the Canadian tax software include maintaining a systematic record of receipts, effectively managing financial matters, and submitting your return to the IRS.
In fact, some services facilitate the direct export of data into tax software, ensuring swift and precise returns. Opting for the finest free Canadian tax software is an especially attractive option for those who wish to handle their taxes independently. By managing your taxes on your own, you save money and equip yourself for seamless tax reporting.
When you have lots of info to fill in, tax software keeps it organised and helps throughout. It’s especially handy when you choose from the best Canadian tax software, ensuring accurate calculations and preventing costly mistakes. It locates and fills in relevant tax form information, ready for your review, and securely stores your details for future returns.
Free Canadian Tax Software for 2024
With numerous accounting software options listed as the best Canadian tax software, the task of finding the most suitable one can feel overwhelming. While certain companies do charge for their services, there are also free alternatives available. In an effort to assist you in saving money on your taxes, we have diligently curated a selection of the finest free tax software in Canada.
Our thorough exploration encompasses the top 9 free tax software options in Canada, allowing you to identify the one that aligns best with your needs. This resource will guide you in understanding how to efficiently complete your taxes online without any financial burden.
1. Wealthsimple Tax (Formerly SimpleTax)
Wealthsimple Tax, which used to be known as SimpleTax, is a Canadian tax software that lets you file your taxes without any cost. SimpleTax was created in 2012, and in 2019, it was taken over by Wealthsimple, a well-known Robo-advisor.
Unlike other tax software, WealthsimpleTax currently provides just one main product, so no different categories of support are available. If you want to learn more about Wealthsimple, you can read a detailed Wealthsimple review.
Key Features:
- 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
RELATED: Wealthsimple Tax vs TurboTax: Which Is The Best Tax Software (2024)
2. CloudTax
Looking to handle a straightforward, non-business tax return? CloudTax simplifies and speeds up the process of completing your return and filing it online.
CloudTax is a certified Canadian Revenue Agency tax software company established by Nimalan Balachandran. They provide two main services: CloudTax Free, which is entirely free of charge, and CloudTax Pro, a paid service.
Key Features:
- 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 Free is a tool that helps you get ready for taxes. You can use it online using a computer, tablet, or smartphone that runs on Windows or Mac. They also have a version for Windows that you need to download and install on your computer.
The good news is that uFile Free is available to all students, no matter how much money they have. This is possible because it’s a free service made in partnership with the Canadian Federation of Students.
Key Features:
- There is a 20-return limit
- Over 230 slips and forms
- Automated filling
- Certified by NETFILE
4. AdvTax
AdvTax is a user-friendly tax return software that simplifies tax-related paperwork for Canadians. It’s a great tool for individuals and small business owners who must fill out federal and provincial income tax forms.
Whether you’re using a smartphone, tablet, or computer, you can access this software. It’s available in multiple languages, including English, French, and Chinese. With AdvTax, you can complete your tax return quickly and simply, removing the stress from the process.
Key Features:
- You can autofill
- Step-by-step guide
- Multi-language support
- Android, Mac, and Windows compatibility
- Certification by NETFILE
- User-friendly
5. GenuTax
GenuTax is a tax software, but it differs slightly from others. You can’t use it on a tablet or smartphone because you must download and install it on a computer. But here’s a thing to note: it works only on Windows computers. So, if you have a Mac, you won’t be able to use it.
What’s special about GenuTax is that it lets you do something unique. You can use it to simultaneously prepare and send up to 20 tax returns. That’s for both this year’s taxes and those from the previous year. Unlike most other free tax programs, this usually only lets you do a few years’ worth of tax returns. So, GenuTax is good if you need to do a lot of tax returns together.
Key Features:
- You can file up to 20 tax returns
- Automated filling
- Filing multiple years of taxes
- Interview in steps
6.TurboTax Free
When it comes to preparing taxes online in Canada, many people prefer TurboTax. It’s a well-known choice.
TurboTax has different versions: free, standard, premium, and self-employed. The free version is a good option if your tax situation is straightforward. It covers all the important parts.
TurboTax works on various devices, including smartphones. So, you can use it on your phone, too.
Key Features:
- 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 a big company that offers tax software worldwide. They have a free version you can use to file any tax return, no matter how complicated.
If you have CRA or Revenue Quebec tax statements, you can use the Auto-fill feature to bring in some of that information. The software guides you through every part of filing your taxes in a clear and simple way.
You can find answers in the Online Help Centre on the website if you have questions. But if you want more specific help or unlimited tech support, consider upgrading to one of the paid versions.
Key Features:
- Guideline tailored to your needs
- It’s smart to search
- Automated filling
- Optimising returns automatically
8. StudioTax
This tax software has been trusted by Canadians since 2004. It’s actually the very first free tax software in Canada.
Here’s something important to know: StudioTax isn’t based on the cloud. This means you’ll need to download the software onto your Windows, Mac, iOS, or Android device to use it.
If you worry about the safety of your personal info on the internet, StudioTax could be a good choice. Unlike online apps, you don’t need to share your email or credit card details when using it.
The best part? It won’t cost you anything to use StudioTax. However, if you like, you’re welcome to make a donation to support the website. It’s a way to give back if you find the software helpful.
Key Features:
- 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
9. EachTax
With EveryTax, the software takes care of completing your taxes for you. You just need to provide the required information, and the software does the rest.
EachTax is used by Canadians every year to prepare their tax returns. It lets you submit both your federal and provincial tax returns for free in a simple and secure manner.
Customers of EachTax include individuals with rental properties and those who are self-employed. EachTax provides both a free version and a paid version to choose from.
Key Features:
- Automated filling
- An error-checking system is built in
- Document filing online with security
- Amendments are re-filed.
How To Choose the Best Free Tax Software Canada
Choosing free tax software in Canada can be 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.
1. NETFILE Approved
There are many programs considered as the best free Canadian tax software available in the market. But, only some of 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.
2. OS Compatibility
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 will 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.
3. Free Version
When choosing a free tax software in Canada, you should carefully read the review before signing up for it. Not all the 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.
4. Limitations
Another crucial consideration is that while the software is free, not all free Canadian tax software options are equal. Therefore, it’s vital to ascertain which ones can yield the highest refund potential. Certain packages might have restrictions on the quantity of forms accepted by the platform.
Numerous limitations come into play when utilising the best free Canadian tax software. Hence, before downloading one, it’s imperative to simplify your tax situation. While these options are suitable for straightforward tax returns, opting for premium tax software is advisable for intricate tax scenarios.
5. User-Friendly
The tax filing process can be complicated and 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.
7. Language Support
In Canada, numerous free tax software options are available, and selecting one that aligns with your language preferences is crucial. Opting for software that supports your chosen language is of utmost importance, as neglecting this aspect could lead to complications during the tax filing process. The last situation you’d want to encounter is investing hours in tax preparation only to discover that the chosen free tax software isn’t compatible and won’t accept your efforts.
Final Thoughts on the Best Free Tax Software in Canada
If you’re looking for hassle-free tax solutions, these top-notch free tax software options in Canada have got you covered. With user-friendly interfaces and comprehensive features, managing your taxes has never been this convenient.
Take charge of your financial journey today with the best free tax software Canada has to offer. Don’t miss out on simplifying your tax filing process; choose the ideal software and experience stress-free tax preparation like never before.
Try out the perfect free tax software for you and streamline your tax experience now!
FAQs on the Best Free Tax Software in Canada
What happens if I don’t file taxes?
An unpaid tax penalty capped at 25% is imposed if you fail to file at a rate of 5% per month.
How many years can you go without filing taxes?
The IRS will penalise anyone who exceeds two years without incurring a penalty.
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.
