Most Canadians don’t need to pay anything to file their taxes. Wealthsimple Tax handles T4 employment income, investments, RRSP deductions, self-employment, and even rental income for free — with one-click CRA auto-fill that imports all your slips automatically. TurboTax and H&R Block are worth paying for only if you have a genuinely complex return (multiple rental properties, stock options, foreign income) or want audit support. For the 90%+ of Canadians with straightforward tax situations, free software does the job just as well as paid alternatives.
Why choose it: The only major option with both software and in-person preparation. Great if you want to start online but need professional help.
Best Desktop: StudioTax
Feature
Details
Price
Free (donations accepted)
Platform
Windows and Mac desktop
Mobile
❌ No
CRA auto-fill
✅
NETFILE
✅
All tax situations
✅
Why choose it: Fully offline, no account needed, supports every tax situation. Ideal for privacy-focused users.
Which Tax Software Should You Use?
Your Situation
Best Choice
Why
Simple T4 employment income
Wealthsimple Tax
Free, fast, modern
Self-employed/freelancer
Wealthsimple Tax or TurboTax
Both handle T2125 well
Rental property income
TurboTax Premium
Best rental property guidance
Multiple investments
Wealthsimple Tax
Handles T5, T3, capital gains
Quebec resident
TurboTax or StudioTax
Both support TP-1
Want in-person help
H&R Block
Only major option with offices
First time filing
Wealthsimple Tax
Simplest interface
Couple filing together
Wealthsimple Tax
Optimizes credits between spouses
Privacy-focused
StudioTax
Fully offline, no accounts
Tax Filing Checklist
Documents You’ll Need
Document
What It Is
T4
Employment income
T4A
Pension, benefits, other income
T4E
EI benefits
T5
Investment income (interest, dividends)
T3
Trust income (mutual funds, ETFs)
T2202
Tuition amounts
RRSP contribution receipt
Deduction amount
Charitable donation receipts
Tax credit
Medical expense receipts
Tax credit
Childcare receipts
Deduction
T2200/T2200S
Work-from-home expenses
T5008
Securities transactions
After You File
Step
Timeline
NETFILE confirmation
Immediately
CRA acknowledgement
Within minutes
Notice of Assessment
2-8 weeks
Refund (direct deposit)
2-3 weeks
Refund (cheque)
4-8 weeks
Common Tax Filing Mistakes
Mistake
Impact
Solution
Missing T-slips
Reassessment, penalties
Use CRA auto-fill
Wrong RRSP deduction
Optimization loss
Let software calculate optimal amount
Missing medical expenses
Lost credit
Collect all receipts (12-month period)
Not filing as couple
Suboptimal credits
File together for automatic optimization
Forgetting carryforwards
Lost tuition/donation credits
Import previous year’s return
The single most impactful feature in modern tax software is CRA auto-fill. It imports every T4, T5, T3, RRSP receipt, and tax slip CRA has on file, eliminating the most common filing mistake: missing income slips. If you haven’t tried it, connect your CRA My Account to your tax software and let it pull in everything automatically. Review what it imports (occasionally slips are delayed), but this one feature alone catches more errors than any amount of manual checking.
The Bottom Line
Use Wealthsimple Tax unless you have a specific reason not to. It’s genuinely free, handles nearly every tax situation, and automatically optimizes credits between spouses. If you’re in Quebec (Wealthsimple Tax doesn’t support TP-1 provincial returns), use TurboTax or StudioTax instead. If you want someone to physically prepare your return, H&R Block offers both online software and in-person filing. Don’t pay $50 for TurboTax Self-Employed when Wealthsimple Tax handles T2125 business income at no cost — unless you specifically need TurboTax’s audit protection feature. If you want a zero-cost shortlist first, start with the best free tax software in Canada.