Income Tax Software Discussion & Recommendations | Income tax filing | Discussion forum

The PC (not web based online) versions of UFile and TurboTax are likely the most user friendly in that they use an interview process to help users populate the right things in the right places including things like digital subscription, e.g. Globe & Mail, tax credits. These may be the best options for someone just transitioning from an accountant to DIY.

UFile is less expensive than TurboTax but either will do, and I notice some big banks have messages offering 20% discounts on TurboTax. I can't speak for other packages except I do use Studio Tax for 'what if' analysis. I've not found it as friendly but that is likely because of lack of familiarity with the software.

Disclosure: I used the predecessor of TurboTax in the '90s but switched to UFile after retirement, and after my corporate employer no longer provided tax support. Once one starts to use one brand, it is harder to switch to another.

I've been happy with TurboTax Premier. My 6th tax year now...

AltaRed said
UFile for Windows covers pretty much any kind of investments one can put on a T1 tax return including investment income, Schedule 3 capital transactions, T1135 foreign income form, self-employment, RE transactions, etc, etc.  

P.S. Meant to include.... that I have been using it since I returned from being an ex-pat in 2006. Works well for anything I could ever possibly imagine.

To clarify, it is TurboTax Standard that goes for $35.

TurboTax allows to file taxes two ways: through "interview" type questions, or just by filing necessary forms. Hybrid tax filing is also available: start with "interview" questions and if at the end you still have tax forms which weren't entered - enter them manually.

Also, this is from TurboTax support forums:

The differences between the Standard and Premium editions are in the guidance that TurboTax provides. In our TurboTax Premier edition, TurboTax breaks the process of reporting your investment and rental income in expenses into smaller, easier to understand steps to help you enter your amounts confidently and accurately.

You'll be able to report the same amounts in TurboTax Standard; the interview is just a bit more transactional and CRA form-like.

You can always choose to start in TurboTax Standard and if you find you'd like more help and guidance as you go, upgrade to TurboTax Premier and just pay the difference.

savemoresaveoften said
Just to be clear, Turbo tax basic version ($35 less discounts that are widely avail) can NOT handle capital gain and loss at all ? I mean even simple stocks gain and loss requires the prem version which is a lot more dough ?
As for studio tax, I just can not stand the interface. It is basically a Windows 95 backbone more or less, an aweful looking "calculator". It looks like GenuTax, except Genutax is free..  

I don't know anyone who has to upgrade to Premier. Standard covers everything a typical individual would need to do a personal tax return, including deduction/credit optimizations between spouses, etc. (that Basic apparently does not).

I would recommend StudioTax because you don't have to pay anything upfront. Download it. Try it. If it works for you, pay only $15 to actually print/netfile. If your income is below a certain level you don't even need to pay.

The interface is not the best, but it does what you need.

Bill said
I agree, pooreva, and seems kind of backward in 2022 to even have to file a return for all those folks who only have a few t-slips box amounts the gov't already knows about - what a waste of time and energy.

Things can get complicated under the Canadian tax system even for those who just have a few tax slips.

The taxpayer could have some unused RRSP contribution deductions that the person wants to finally use on that return. Maybe the taxpayer wants to carry part of the capital losses from the T5008 (Statement of Securities Transactions) slips back to the second year before and carry the rest forward.