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Filing taxes is mandatory in Canada, but filing them is no easy task, especially if you have a complex financial situation. Improper filing can lead to lower tax refunds, higher taxes owed or even a tax audit by the CRA. Thankfully, there are numerous tax softwares available in Canada, with TurboTax being one of the most well-known.
With TurboTax, you can file your taxes online and submit your tax return directly to the Canada Revenue Agency (CRA). Millions of Canadians have already used TurboTax over the past couple of decades that the tool has been around, and as such, it’s developed an excellent reputation.
TurboTax is among the more extensive tax preparation software products out there, but the features and ease of use might make it worth the few extra dollars. That said, it’s still a relatively affordable tool for Canadians to use to file their taxes, especially when you consider everything that you get with it and what accountants charge for tax preparation services.
Ideal for both simple tax filings and more complex situations, TurboTax is fully equipped with all the features needed to file accurately and with ease.
![]() File your taxes with TurboTaxGet Started |
TurboTax has a number of features that Canadians with little or advanced tax knowledge can benefit from. Below are some of the features TurboTax offers:
TurboTax has real tax experts available to answer questions and give advice as you move along your tax filing. They’ll also work with you line-by-line to make sure you don’t miss anything.
One of the fears of filing your taxes yourself is missing out on different tax credits and deductions, which can result in lower tax refunds. TurboTax offers a 100% guarantee that you get the highest tax refund possible.
Moreover, if the CRA finds any discrepancies in your tax return and you are charged a penalty as a result, TurboTax will reimburse you whatever you have been charged (plus interest) thanks to its 100% accuracy guarantee.
Similarly, if you are ever audited by the CRA, TurboTax will provide you with professional representation and deal with the CRA for you.
Tax returns filed online are submitted directly to the CRA thanks to NETFILE, which means you can get your tax refund shortly after you’ve completed your tax return.
The RRSP optimizer will show you examples of various contribution amounts and how they will impact your tax refund or amount owing. That way you can make an informed decision on how you should contribute to your RRSP.
This tracker will keep you updated throughout your tax filing so you don’t have to wait until you’re almost done to see what the final total is. Instead, you’ll get real-time information that shows you how it affects your refund or tax owing as you enter your information.
While you will have all the support you need to file your taxes on your own, you can always get a TurboTax tax expert to prepare your tax return for you and file it on your behalf.
TurboTax offers a pension optimizer tool that helps you split up to half of your CPP or other pensions with your spouse to save on taxes owed.
If you have rental income or have been investing in stocks, bonds, ETFs or Crypto, TurboTax offers users guidance on these matters. They will ask questions depending on your investments, to ensure you’re getting the maximum deductions and highest return.
TurboTax offers a range of pricing plans. Depending on the level of expertise you want and the financial situation you’re in, the price will vary.
If you don’t want any expert help and wish to do your taxes on your own, the plans under the “I’ll do my own taxes” will be your best choice. They offer four types of plans and they are the most affordable compared to the plans where you want expert help or want an expert to do your taxes.
This is the TurboTax free plan and it is best suited for simple tax returns. Through it, you’ll be able to enjoy the following benefits:
This plan costs $19.99 and is best suited for families, students and individual returns. This plan offers:
This plan costs $34.99 and is best suited for individuals with investments and rental property income. It offers:
This is the most expensive plan under this category at $44.99 per return. It’s best suited for personal and self-employed taxes. This plan offers:
Free | Standard | Premier | Self-Employed | |
Best Suited For | Simple tax returns | Families, students and individual returns | Investments and rental properties | Personal and self-employed taxes |
Cost | $0 | $19.99 per return | $34.99 per return | $44.99 per return |
If you want some help from experts, you can opt for one of these plans:
Assist and Review | Assist and Review Self-Employed | |
Best Suited For | Those who want on-demand advice from a tax expert and full review of their tax return. | Self-employed individuals who need questions answered and hidden fees found. |
Cost | $79.99 per return | $99.99 per return |
Key Features | -Support and questions answered along the way -Modify a filed 2018n or 2019 tax return and resubmit it to CRA -TurboTax Mobile App -SmartLook, which allows you to connect with a tax specialist in real-time -Professional review of your tax return before you file -Guidance on RRSP income, contributions, family benefits, and tuition -Guidance on investment and real estate income and expenses -Guidance on rental property income and expenses -Auto-fill returns -Up-to-date on any recent changes -Identifies tax saving opportunities | -All Assist and Review features -Guidance on self-employed tax returns. -Advice from experts on finding self-employed expenses -Guidance on self-employed obligations -QuickBooks Self -Employed tracking for expenses and mileage |
If you prefer to take the stress of your hands, you can have an expert do your taxes for you. TurboTax offers the following programs:
Full Service | Full Service – Self-employed | |
Best Suited For | Have your tax return completed and filed by an expert | Have your self-employed tax return submitted and filed for you by an expert |
Cost | $129.99 per return | $199.99 per return |
Key Features | -Full prepared tax return by a tax expert -Optimized for deductions, credits, and expenses -Reviewed by an expert before filed | -All Full-Service features -Tax experts experienced in filing self-employed returns -Assistance finding expenses based on your industry -Free GST/HST filing |
Creating an account with TurboTax is easy. All you’re required to do is enter and confirm your email address, choose a secure user ID and password, and provide your name. You can also provide your phone number, which TurboTax recommends, but this is optional.
If you need help filing your taxes you can reach out to TurboTax’s experts by phone, live chat or through email.
There is also the TurboTax Help tool that you can use that offers many resources that may provide the answer to your questions.
Whether you’ve got a simple tax return to file or have a more complex situation that involves running a business, being self-employed, or having investments or rental income to claim, TurboTax may be suitable for you. The software offers a variety of plans to suit different situations, so your needs will likely be covered under one of these plans. If you’re the type to file your own taxes, TurboTax makes it easy to file while having expert support along the way. Otherwise, if you prefer to have an expert handle filing your taxes entirely for you, TurboTax can do that too.
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