How To Maximize Your Canadian Tax Return
I tested out 4 of Canada’s top tax filing software so you can pick the best one! See which software gave me back the largest tax return.
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TLDR:
Which Is The Best Tax Software In Canada?
All of the free and paid tax software that I used were certified tax filing applications by the CRA. However that did not mean that each of them were useful.
After inputting the same T4, and T2125 tax slips into each tax software. I found that Wealthsimple Tax gave be the biggest return, cost the least, and was the easiest to use.
| H&R Block | TurboTax | UFile | Wealthsimple Tax | |
|---|---|---|---|---|
| Cost | $600 | $20.99 | $19.95 | Free / donation |
| Ease Of Use | ⭐️ | ❌ | ⭐️⭐️⭐️ | ⭐️⭐️⭐️⭐️⭐️ |
| Auto-populate | ❌ | ? | ✅ | ✅ |
| Auto-file With CRA | ✅ | ✅ | ✅ | ✅ |
| Mobile App | ❌ | ✅ | ❌ | ✅ |
| My Final Return: | TBD | n/a | $3,774.57 | $3775 |
#1 My Favourite Tax Software
Wealthsimple Tax
Wealthsimple is really disrupting the traditional finance system in Canada. Their tax product was another incredible experience. It was the easiest and quickest I’ve ever completed my taxes. Plus Wealthsimple Tax gave me the biggest return out of all the tax software I tested! It truly is the best tax software in Canada.
Pros:
Free / donation to file
Auto pull previous returns
Auto pull T4’s and other tax slips right from your CRA account
Auto file your return directly from Wealthsimple
Cons:
$30 for audit support
Canada Tax Software FAQ’s
Which software is the best for getting the max income tax return?
After testing out 4 different Canadian tax filing services I found that Wealthsimple Tax gave me the biggest return. Also it was just an added bonus that it was the easiest software for me to use!
What criteria did you use to evaluate each tax software?
Sticking with the Money With Mark brand, I’m looking for the tax software that is the easiest to use, and that gives us the biggest tax return. I’m all about working less and living more – using our money as a tool to enable us to live our best lives.
Are these tax services certified by Netfile?
Netfile is the Canada Revenue Agency’s online tax filing portal. Yes each of these reviewed tax services are certified by Netfile and setup to auto file your return.
#2 One Of The Most Popular Tax Software
UFile Tax Filing
UFile was my go-to tax software for years. It’s very reliable and has a lot of recommendations to optimize your tax return. However they do not have a mobile app, and their software has a poor interface / UX experience.
Ease of use is a critical part of using online tax software in Canada. That’s because we all hate filing our taxes! So that’s why I switched and stopped using UFile and now exclusively use Wealthsimple Tax.
Pros:
Free / donation to file
Auto pull previous returns
Auto pull T4’s and other tax slips right from your CRA account
Auto file your return
Cons:
$19.95
No support for CRA audits
#3 The Worst Tax Filing Software
TurboTax By Intuit
Unfortunately my TurboTax experience was cut short. When I was attempting to start my tax return. I got stuck in a broken button loop. I could not start filing my taxes.
Pros:
$20.99
Mobile app
Cons:
Broken buttons
Could not start my tax return
#4 Using A Real Tax Accountant
H&R Block
H&R Block has real tax filing specialists that will complete your return for a large fee. I’m writing this with mere days to go before the March 1 RRSP deadline. Yet I still have not received my tax return back, or got any advice on things like RRSP contributions or tax optimization tips.
I gave H&R Block all of the exact same data that I input into Ufile, Wealthsimple, and TurboTax. So let’s hope that they do get me a return that is at least $600 more than any other software. But I’m doubtful.
Pros:
Support for CRA audits
Real tax specialist that files your taxes
Auto file your return
Cons:
~$200 – $600
No real time return feedback
Limited tax optimization advice
Final Thoughts On The Best Tax Software In Canada
Use Wealthsimple Tax! You’ll never go back.
