Best Free Tax Software Canada 2015
Around this time of year our Coaches are often asked which tax software they would recommend to individuals who would like to file their own taxes online. Here is a round-up of responses on three of the most popular options: Turbo Tax, Studio Tax and Ufile. It is also important to note that if you are filing online you must use a program that is recognized for use on Netfile by the Canada Revenue Agency (CRA). For a list of all the recognized programs. Turbo Tax Previously known as Quick Tax, offers several different levels and is available for Mac or PC.
Benninger recommends that tax filers consider the Canadian-produced UFile software as well as Intuit's TurboTax, which is by far the most popular tax preparation software. (Intuit said five million Canadians filed their taxes using TurboTax last tax season.) 'Both of them have excellent help resources,'. Get H&R Block 2015 Back Editions tax software, federal or state editions for 2015. Start tax preparation and filing taxes for 2015 with H&R Block 2015 Back Editions.
The Free Version: Exclusively online and recommended for people with extremely simple returns, (no children or significant assets). The Standard Version: For folks with very straightforward finances, but is detailed enough to cover pensions, children and RRSPs.
The Premier Version: offers everything the standard version does but can also handle more complicated income from investments or rental properties. The Home and Business Version: A great option for the home business owner, consultants and contractors. All versions (except the Free version) are available as downloads or online. The downloadable versions offer the ability to handle multiple returns (8 for standard, 12 for Premier or Home and Business). The online versions are roughly half the price but only accommodate one return. Features included in all the purchased versions: Turbo Tax EasyStep (uses guided questions to navigate you through the process), free product support by phone, email or chat. “I’ve used Turbo Tax (standard) for several years.
Pretty easy to use and it has good help from their forums/community if you have a tax or software question.” – Money Coach P.Eng, CFP® I agree with Noel that the forums/community are good. There is also some online technical tax support, but I believe that is only available until the April 30th tax deadline.” – Money Coach P. Eng “I use Turbo Tax as well and really like it. Free Psp Games Download Iso Cso Torrent here. The EasyStep feature walks you through your return and is especially beneficial for first time users.” – Money Coach StudioTax The first thing to know about is that it’s free for all personal users.
Starting this year it is available for Mac as well as PC. It has only one, full featured version and will handle up to 20 returns (which is the limit set by the CRA). StudioTax is the brainchild of a group of software developers in Ottawa who offer the program for free but welcome donations. “I switched to StudioTax last year. I was attracted by the low cost – it’s free! StudioTax was approved by CRA for Netfile a few years back.
It’s easy to navigate around as the forms look as if you are paper filing the CRA T1 General. It includes a quick entry wizard and helps you validate your return to be sure it’s optimized and error free. I am using StudioTax for 2013.” – Money Coach CFP, CET “I use StudioTax too. It’s free but you can donate to it if you choose to.
I start with the Quick Entry Wizard and then review each form to be sure I didn’t miss any credits etc. They have a PC and MAC version and now have some for those wanting a bit more support.
The only thing I remember Turbo Tax having that this does not, is an RRSP optimizer with a visual way to see how your refund changes when you deposit more into an RRSP.” – Money Coach BA Psych, MBA Candidate Ufile online is available for Mac and PC but the downloadable version is PC only. The downloadable version costs less than Turbo Tax but only allows for 4 returns, and depending on your income and circumstances it can be free. It has a questionnaire that once completed fills in the necessary spots in the tax return and easily carries forward the previous years information. There is only one version for personal use, which the company says will handle any tax return no matter how complex.
“I use Ufile, it’s less expensive, but I don’t think it’s for beginners, you need to know something about taxes in order not to miss credits.” – Money Coach We hope this article has been helpful and provided some practical advice on how you can improve your financial well-being. If you need additional support, please contact one of our today. Hi Bob; In answer to your question, yes Ufile was first developed by Dr Tax Software Inc in 2000 and that company was bought out by Thompson Reuters in 2012.
The changes to their software came in 2015 and I agree the changes were not as user friendly. I have myself continued to use Ufile, there was a “learning curve” with this new software update for sure. With any tax software you will want to go over each of the questions carefully and if unsure then Ufile does has a help desk and I recommend going over the tutorials as well. With all tax preparing software it’s a good idea to be somewhat familiar with how the Canadian tax system works so if your tax software is stating a large refund or amount owing and you have no good reason as to why, then you may need to go back and review your inputs to ensure you haven’t missed something. I used to use Quicktax years ago, but found the cost was increasing rapidly each year, that’s when I switched to Ufile. I hope that helps. Hi Ian, The answer probably lies in the information you didn’t share.
Which package got you the better refund. IE: If Turbo tax recommended only splitting $595 of your pension with your spouse and it gave you the best return +$175 then this would appear to be the optimal split. If Ufile’s recommended max 50% split got you the +$175 then this is the most optimal. In the end the algorithms are designed with rules to try and reduce your taxes. This is done in one of two ways, reducing your income or increasing your tax credits. It would be helpful to know which package got you the best refund as it will help other understand who’s software worked best for you.
In your case both answers appear legal so I would choose the higher refund unless your primary concern is having a Lower Taxable income to qualify for some grants or tax credits (IE: BC MSP Reductions for low income). Enjoy the refund and buy something that makes you happy. Hi Ian; Revenue Canada allows you to split up to 1/2 of eligible pension income with your spouse. Each software program has an optimizer, Ufile call theirs MaxBack, Turbo Tax is I believe called “optimizer”. These tools are calculating what works best in your situation. With similar inputs though, why the difference? That’s a great question, I would suggest you contact UFile support chat line at: to see if they may be able to answer your question.
They may want you to submit your file to them for review, please let us know what the answer was so that we may inform others. After just having gone a round with CRA about unreported income, I am sorely disappointed with StudioTax (ST).
The problem arose because my wife and I shared our investment income and I used the wizard to split the T5 chits for the most favorable tax refund. ST did indeed juggle the numbers, but it did not attribute the income to either of us. This meant that CRA eventually realized this and came after us. We were able to resolve the issue by paying a penalty on top of the extra tax and being told by CRA that no matter which tax package we use, we would still have to _review all figure manually_, which pretty well defeats the purpose of the software in any case. In going back to Studiiotax to see what is going on, I found a button on the T5 slips page “Copy the current T slip amount to the spouse return” My beef and question: if ST is smart enough to juggle the numbers, once I accepts the split, ST at the very least should ask me to transfer the slips as needed, or better yet, simply advise me the it did so for me and possibly ask me to confirm. The penalty cost us far more than we would have paid for any non-free tax package.
Between the hassle and the penalty, ST is no longer an option for us:-(. My wife and I moved from Canada to NZ on 1 Oct 16 (permanently) and are considered non-residents for Tax purposes. Last lived in B.C. Sold all stocks and residence. Both retired. We have pensions, RRIF and interest income only. Will have to complete Canada 2016 Tax return and paper file as they will not accept net file from out of country.
Have used Turbo Tax and Quick Tax prior to that for years. Download Save2pc Pro 3.60 Full here. Question is can Turbo Tax handle the taxation problems inherent with our no longer being Canadian Residents? I’m new to this. I know computers very well. I’ve tried using Ufile 15 years ago but I’ve never filed it since my dads accountant was doing it and it come out the same. Now my question is which is best for me only. I’m in Montreal, Quebec (Canada) I own a condo, I’m single, no kids, have RSSP’s, GIC’s, I work and have T4, T5 and annual bus passes.
I’ve heard about Ufile, H&R Block, Turbo Tax, Simple Tax and Studio Tax. I only need is one return. Which program is more user friendly to use?
I’ve head about Studio Tax and Simple Tax online it’s all free and have e-mail support. Studio Tax saves it on my hard drive and online they say it stays on someones server. Then you have online Ufile, H&R Block, Turbo Tax which are not free, but are they any better then Studio Tax and Simple Tax for my simple return?
I think I should try Studio Tax for my very first time? The auto fill, how does that work, do I need to register with the CRA or it’s done automatically when selecting on Studio Tax? Studio Tax support is done by e-mail only. Do I really need phone support too or remote support? Maybe I try to practice by doing my last years taxes to see if I get the same too with Studio Tax?
Hi Tony, Your situation isn’t overly complex but if you look back on your previous tax forms be sure you understand how all of the numbers were arrived at so you have confidence that you can prepare the forms yourself. You also want to fully understand what credits and deductions may apply to you now and as they change in the future.
If in doubt a tax prep professional can provide peace of mind. If you suspect you may be missing credits or deductions or opportunities to lower your taxes by doing them yourself it may be worth it to have a professional prepare it for you. Peace of mind in this area is well worth it.
If you want to test drive a tax software program be sure you are using the version that matches the year of tax information you are inputting. Updates are done to the software annually to incorporate any changes the government may have made to how we calculate taxes and credits. You need to compare apples to apples so don’t use a new version of the software and expect to get the same answers as your older tax return. Turbo Tax looks a bit prettier and may come with a few features that Studio Tax does not but for simple returns you should get equally valid results if your data is identical. I personally prefer keeping my information saved on a separate hard drive back up and not in the cloud so I have a greater sense of security of my personal information. For how to’s with specific software it’s best to consult their help and support functions, Studio Tax offers a series of how to you tube videos.
You must be registered for “My Account” in order to use the autofill function on tax software. More information here cra.gc.ca/auto-fill. A revolutionary step-by-step money management system where you will learn how to: • Stop living paycheque to paycheque and start saving for the future • Get off the treadmill of working harder yet feeling farther behind • Make responsible life and financial decisions that have a positive impact on you, your family and your community Combining practical financial tools, tips and resources with insights into the emotional and psychological challenges of today's money culture, this thought-provoking book will help you bring more joy and ease into your financial life.