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It’s everyone’s favourite time of year—tax season.
Well, probably not, but with the April 30 deadline to file your taxes fast approaching, you may be trying to decide between multiple services to get them done—especially considering that the sooner you file, the sooner you can claim your refund (if you are eligible, that is).
There’s lots to look for in a tax-filing service, but simplicity, cost and effectiveness (i.e., maximizing your 2023 return, so you pay the least amount of tax possible) are at the forefront. To that end, you may feel that tax-filing software will give you your best return, but you should consider whether the program is NETFILE-certified.
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What is NETFILE?
NETFILE is the Canada Revenue Agency’s electronic tax-filing service, which sends your tax return directly to the CRA safely and securely (you’ll get a notification from the CRA when it’s received). It also ensures that your sensitive information is being protected. Check that any software you use is NETFILE-certified here. It also may speed up the process and get you your return faster. (All the tax software included on this list is NETFILE-certified.)
With that in mind, here are the details of where to do your taxes in Canada, from branch options to software and everything in between.
H&R Block
H&R Block is the classic in-person way to get your taxes done and dusted. The company will set you up with a trained tax expert to get you your maximum refund.
Speaking of a refund, H&R Block offers instant refunds and the convenient ability to pay for their services with your refund, too. The company has two options for delivering your refund to you: In the form of a cheque, or loaded onto the H&R Block Advantage Prepaid Mastercard. However, the latter option comes with fees that could eat into your return. For instance, the card offers free point of sale transactions, but charges a $3.95 Interac e-Transfer fee, a $2.99 monthly fee, a $3 reload fee and a $2.95 ATM fee for machines outside of the DC Bank network.
One of the main drawbacks to H&R Block is that, aside from their software, their pricing isn’t offered as a flat rate, but based on the return you get back. So, you won’t know how much you’ll have to pay for their service until it’s over. You’ll be charged 15% on the first $300 ($45) of your refund and 5% on the rest.
The company does win points for convenience. With nearly 1,000 locations across Canada, chances are there’s a convenient one close by. However, they offer remote filing options as well, including tax-software. Here are the filing options currently available:
File in Office
With this option, you can simply book an appointment (online or over the phone) at your nearest office or walk in unannounced. Either way, you’ll be set up with an expert to file for you.
Drop-off and Pick-up
With this option, simply gather your documents and drop them off at the nearest location during office hours. Be sure to bring your government-issued photo ID with you. From there, the tax expert you are assigned will handle filing for you and schedule a brief follow-up to go over your return.
Remote Tax Expert
Perhaps the most convenient item on this list, H&R Block offers a Remote Tax Service. You simply create an online profile and upload your tax documents to the portal. You can then chat with your online tax expert and they will file for you.
DIY Tax Software
Simply download H&R Block’s software for free and your taxes will be filed directly with the CRA via NETFILE. You can choose from four different pricing options.
Wealthsimple Tax
Wealthsimple offers a free tax-filing service, with the option for a pay-what-you-can as payment. They also offer an audit support upgrade for $40, plus tax. This means that if the return you submitted through Wealthsimple gets re-assessed, they’ll help you understand your Notice of Reassessment and support you during the next steps, like gathering supporting documents and so forth.
If you need some help with your taxes, there’s also a Pro plan available for $80, plus tax, that gives you the same benefits as the Basic and Plus plans, but with customized 1:1 advice.
WealthSimple Tax can automatically fill in your tax slips and documents by connecting to your CRA MyAccount. The program will also suggest deductions and credits you might be eligible for. Wealthsimple Tax is also NETFILE-certified, so you can file your tax return directly from its software and receive your refund in just over a week.
WealthSimple also wins points for allowing you to easily report crypto gains and losses—something not a lot of tax services can claim.
TurboTax
TurboTax is an online tax-filing service and it’s also NETFILE-certified. You have the option to file with the help of an expert as well as on your own. Depending on the amount of support you require, there are three packages to choose from:
CloudTax
This app allows you to file your taxes right from your laptop or smartphone and file directly to the CRA through NETFILE. They offer a two-tiered service.
Bottom Line
Taxes can be complicated. If you don’t feel comfortable filing them yourself, or you have a trickier tax situation, don’t be afraid to hire a qualified accountant (you can find a list of Chartered Professional Accountants online in your province, like this directory for Ontario). If your taxes are likely a cinch, feel free to use any of the services above. Hopefully, you’ll see a decent return this year.
Related: Tax Prep Checklist: Everything You Need To File Your 2023 Taxes
