Wealthsimple Tax, formerly known as SimpleTax, offers Canadians to file their taxes faster and more affordable. The software has made filing taxes simple and quick.
Summary: The software makes it incredibly easy and quick to file taxes for free. It removes a lot of the manual work by auto-filling more than half of the work, along with smart searching for the right information, and optimizing your taxes to maximize your tax refund.
Plans & Price
Income & Deductions
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|HQ||241 Spadina Avenue, 3rd Floor|
Toronto, ON M5T 2E2
|Price||Free (with optional donation)|
|Online Filing||Website & mobile app (iOS)|
|Tax Optimization||Yes, maximum refund|
The idea behind Wealthsimple Tax is to offer Canadians an inexpensive platform to help them file their taxes easily. Even when filing multiple tax returns, the app is entirely free but prompts the ‘pay what you want’ for those who wish to donate. Initially known as SimpleTax, the software was rebranded to Wealthsimple Tax in 2019 after being acquired by Wealthsimple.
Unlike other online tax platforms, Wealthsimple Tax’s pricing structure is absolutely free. However, you can ‘pay want you want’ to donate to the software. The default donation for Wealthsimple Tax is $19 but you can pay any amount that you feel comfortable.
Wealthsimple tax helps you to file your returns on the following types of income and deductions:
|Tuition and fees deduction||Available|
|Student loan interest deduction||Available|
|Child tax credit||Available|
Filing your tax returns via Wealthsimple Tax is easy and straightforward. You only have to open an account and enter your details, including CRA membership.
Those who have a CRA MyAccount option can use the ‘Autofill my Returns’ feature to populate their income tax returns. You can use the search box to find specific forms for your returns.
After entering all the required data, WealthSimple Tax analyzes your returns to check for errors or opportunities to maximize your refunds. You are now set to submit your returns. You can also download the PDF file for your returns and save it or future reference.
Wealthsimple Tax offers reliable customer support through their email. If you have any inquiries regarding your taxes or the platform, you can email them and get replies in good time.
Although the platform does not offer an option to speak directly to support staff, it provides a broad knowledge base for specific concerns. In case you get stuck while filing your taxes, you can visit the help section.
Wealthsimple Tax is CRA approved and uses the NETFILE electronic system to pass your information. This electronic filing system is popular for its security features that protect your data.
When you access the site, your traffic is end to end encrypted to ensure no one else can access your data. For additional security measures, Wealthsimple Tax allows you to enable 2-factor authentication.
Wealthsimple Tax helps you file your returns directly with CRA easily for free. The software handles multiple tax scenarios, including self-employment, investment, rental, and others. With a straightforward filing process, any Canadian who has difficulties filing returns should consider Wealthsimple Tax.