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The 7 Best Free Tax Return Software for Canadians in 2022

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Tax Filing Softwares

Paying taxes can be hard and intimidating, especially if you don’t know how to do accounting or finance. But there is good news: There are free tax software that makes it easy to file your taxes online. One of the main benefits of using the tax return software program is that you can save money by not having to pay a tax expert. When you file your own taxes, you will save money every year.

Is submitting taxes online an increasing trend?

So, the big agencies will hire professionals. However, the majority of small businesses and solopreneurs have the option of filing taxes online. People are increasingly opting for electronic submissions. According to a study, approximately 91.2 percent of Canadians chose to send documents electronically in 2021, and this percentage is expected to increase in the coming years.

2022’s Best Free Canadian Tax Software

Here are the seven best Canadian tax software programmes to help you get started. However, before we start, we should first have complete knowledge of a few things to pick the right tax software.

Importantly, use software that is simple or easy to use. You can also preferably move to one that comes with tutorials.

You can only get hold of a tool designed for Canadian tax. NETFILE authorised systems are perfect for Canada.

Wealthsimple Tax

Formerly SimpleTax, Wealthsimple Tax is one of the more current profit tax filing programmes available. It seems to combine the exceptional capabilities of other tax go-back software to make a properly-rounded application.

This is certified by the CRA and Revenu Quebec; the software is NETFILE approved. If another company offers a lower tax rate or a larger refund, the company will pay you.

Tax Plans:

100% Free: The programme is free to use with no paid features, yet you may be asked to donate (voluntarily) to support the company.

Advantages:

  • An Internet-based model can be used on a local Windows or Mac computer.
  • It can be downloaded through the App Store and Google Play.

Disadvantage:

  • One tiny error is that it may not be suitable for very complex problems.

TurboTax

TurboTax is one of the most widely known tax software packages in Canada. Said to be ideal for W-2 and unemployment income, this system lets you document federal and national taxes without cost. A NETFILE certified programme supports up to 20 free returns per year. You’ll also be able to see who qualifies to be your dependent to get tax credits.

Tax Plans:

  • Free Version: There are no paid features; however, you may be asked to make a (voluntary) donation to support the company.
  • Paid version: It comes with a maximum refund guarantee and works in Quebec as well. The employer can pay you $9.99 if every other enterprise offers a smaller tax or a large refund. You should buy the paid version of the software if you want to transfer your tax information from the previous year.

Advantages:

  • You can easily work with Android, Windows, Mac, and iOS.
  • Your data will remain safe and secure.

Disadvantages:

  • It is only appropriate for simple returns.

H&R Block

H&R Block is a famous name inside the industry and has presented tax-associated offerings for over five years. It lets you record your profits tax return, even if you’re self-hired or have investment profits. The service is available to Quebecers as well.

Plans Available:

  • Free Version: It works well and lets users file schedules 1 and 3 of Form 1040 to document enterprise income, handle unemployment benefits, and certain deductibles.
  • Basic Online Help: The same as the free version, but with the added benefit of being able to contact a tax professional for advice.It starts as low as $69+state rate.
  • You can easily itemise and declare credits, but it doesn’t help with Schedule C filings that include commercial enterprise prices. The package begins as low as $44.99.
  • Customers who want to record a Schedule D or E should choose this plan. It starts as low as $44.99 with state taxes.
  • Version for self-employment:Made for freelancers and small-enterprise proprietors, this plan costs $44.99 for the country and $109.99 for the federal government and can include Uber driving force tax statistics.

Advantages:

  • It works with Windows or Mac computers, or with Android and iOS mobile operating systems.
  • facility to auto-import certain documents.

Disadvantage:

  • It may not be enough for everyone.

StudioTax

StudioTax has been helping Canadians record their income tax returns for over a decade.

It was free, and it is still free for those in the Yukon, Northwest Territories, and Nunavut and those with earnings below $20,000. But for the relaxation people, it costs $15 to submit most of the 20 returns.

Plans:

  • Free: This version has all the features of the paid version.
  • Paid: $15 after the first 20 files to print and file your taxes.

Advantages:

  • Work locally via a Windows or Mac desktop, also for iOS and Android devices.
  • No income restrictions.
  • The Express Notice of Assessment feature

Disadvantage:

  • You must pay to print your returns.

TaxTron:

TaxTron is NETFILE and EFILE software that makes it viable to report your taxes without cost. However, the loose version is the most applicable in situations where you are at a loss. Tax practitioners with an EFILE variety will have to buy a paid version to use the program.

TaxTron Plans:

  • You may use the device to download a printable copy of the CRA submission for free.
  • Individual licences are $12.99 for Windows and $19.99 for Mac.
  • Professional: $249.99 for Windows and $595 for Mac.
  • Rates for families start at $24.99 for Windows and $39.99 for Mac.
  • Corporate Professional costs $249 and is available for both Windows and Mac.
  • Corporate (single license): $99.99 for Windows and $99.99 for Mac.

Advantages:

  • Excellent customer support. Safe and secure to use.
  • can cover a variety of scenarios.

Disadvantages:

  • Not free.
  • It doesn’t support Quebec. CO-17

GenuTax Standard

GenuTax Standard is free for 12 months for Canadians. The platform allows users to claim deductions and credits they may be entitled to—genuTax, including funding profits, apartment homes, and small corporations. Users are capable of reporting the most 20-character tax returns.

Plan:

  • Free: There are no paid functions, but you may be asked to donate (voluntarily) to aid the agency.

Advantages:

  • NETFILE-certified programme & Auto-fill My Return feature.
  • can control up to 20 returns.

Disadvantage:

  • It only works on Windows & instals to use the app.

CloudTax

CloudTax is the go-to alternative for humans seeking out non-commercial enterprise tax returns. This Canada Revenue Agency licenced software uses NETFILE certification and supports both ReFILE and Express NOA at the free stage.

Plans:

  • free: deductions, earnings slips, creditors, and employment income. Other incomes aren’t supported.
  • CloudTax Plus: some additional capabilities along with audit protection, commercial enterprise profits, foreign earnings, and condominium profits. More than 20 returns will cost you $24.99 each.
  • Plus: Starting at $69, comes with all the capabilities and enterprise returns.

Advantages:

  • can be used on mobile devices and has excellent customer service
  • offers step-by-step guidance

disadvantages:

  • The free version only helps employment income and doesn’t support some regions.
Salman Rundhawa
Salman Rundhawa
Salman Rundhawa is the founder of Filing Taxes. Salman provides valuable tax planning, accounting, and income tax preparation services in Toronto, Mississauga, Oakville, and Hamilton.

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