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Email this5:23 am
March 30, 2017
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bhuc said
Beware, CRA does not have all your T5's .
I received Bank interest from Simplii last year and did infact receive a paper T5.
But CRA did not have the Simplii T5 in their system for download.
I checked on Simplii, they have no ability to print T5's and they state that all T5's have been also sent to CRA.
Bottom line, don't assume that if you do the import data from CRA into the tax software it contains all of your T slips.
So who is at fault here, CRA or Simplii ?
Cheers B
Simplii showed up on the CRA side under the name of CIBC as Simplii is NOT a legal identity under that name. Mine showed up under my profile like a month.ago if not more.
5:54 am
October 5, 2017
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savemoresaveoften said
Simplii showed up on the CRA side under the name of CIBC as Simplii is NOT a legal identity under that name. Mine showed up under my profile like a month.ago if not more.
Unfortunately, NO T5 is listed for either Simplii or CIBC
in the CRA website page "List of all slips for tax year 2021 "
Anyone else noticed this anomaly ?
7:31 am
September 11, 2013
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My CIBC T5s were on My Account some weeks ago too.
I was considering maybe starting to netfile instead of paper, but I looked at the CRA certified software and only GenuTax has a free offering that can be downloaded to my desktop, so no real choices any more unless you want to pay, put your data in the cloud, or use mobile app. So my question is, is it prudent for me to give H&R Block, Wealthsimple, etc my SIN and tax data while using their free "online" platform software to do my taxes? Am I the only one anymore that would worry about that?
8:28 am
November 8, 2021
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Bill said
So my question is, is it prudent for me to give H&R Block, Wealthsimple, etc my SIN and tax data while using their free "online" platform software to do my taxes? Am I the only one anymore that would worry about that?
IMHO, there's no 100% hack-proof solution anywhere. Whether on-line, or off-line computing, risks do exist. We can do a lot to minimize them, but there's no guarantee. Those, who choose to keep their data on their computer, enjoy knowing that they might have some control over it. However, hackers are so advanced nowadays that they could execute malware even if they are not connected to the Internet at any given moment, all it takes is installing a script for execution. One can only trust the platform used based on the reputation of the company behind it.
9:53 am
March 30, 2017
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BlueSky said
IMHO, there's no 100% hack-proof solution anywhere. Whether on-line, or off-line computing, risks do exist. We can do a lot to minimize them, but there's no guarantee. Those, who choose to keep their data on their computer, enjoy knowing that they might have some control over it. However, hackers are so advanced nowadays that they could execute malware even if they are not connected to the Internet at any given moment, all it takes is installing a script for execution. One can only trust the platform used based on the reputation of the company behind it.
I consider offline saved locally to be "safer" than online/cloud.
Bill said
My CIBC T5s were on My Account some weeks ago too.I was considering maybe starting to netfile instead of paper, but I looked at the CRA certified software and only GenuTax has a free offering that can be downloaded to my desktop, so no real choices any more unless you want to pay, put your data in the cloud, or use mobile app. So my question is, is it prudent for me to give H&R Block, Wealthsimple, etc my SIN and tax data while using their free "online" platform software to do my taxes? Am I the only one anymore that would worry about that?
Mytaxexpress $14 a year, upto 10 returns
Turbotax $30 or less a year, with all the diff promo they have out there, upto 10 returns as well I think.
Studiotax is similar, except I wont pay for their ancient clunky interface.
They all offer offline storage, which I consider to be a littler "safer" than the online offering / cloud.
The money they ask for is like a lunch these days, and if security is even remotely a concern, it should be a easy decision, no ?
10:46 am
April 14, 2021
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savemoresaveoften said I consider offline saved locally to be "safer" than online/cloud.
I, too, am 'old school' and consider security of my information my personal responsibility and no one else's. Cloud back-up is a nice feature, but if I don't have my own hard/e-copy, I consider it lost.
10:58 am
April 16, 2020
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Just like previous comments, our Simplii T5s were received via CanadaPost in early March and showed up in CRA MyAccount (listed as CIBC) on March 21st.
(As an aside : we generally receive one T5 per person from each FI, but Simplii issues a seperate T5 for each Savings Account and GIC, so we got four T5s from Simplii in total between myself and my partner : seems inefficient these days but at least it makes checking the T5 amounts easily-correlatable !)
Re local/offline vs online : I agree with savemoresaveoften's comments in post #45 (except I'm still OK with StudioTax's clunky interface 
... but hey I'm also still running Win7 as well 
).
12:31 pm
September 11, 2013
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Thanks, affordability is not it, I just don't like the principle of paying to do something gov't says I have to do, I guess. I did download GenuTax but right away they say something about I won't be able to see everything, 96 DPI, adjust your screen settings, blah, blah, blah.....I've zero interest in spending even a minute figuring out how to make it work, so I'll just stay with my paper return (though my local tax service office sealed up the mail slot when the virus started and now they've replaced it with a solid pane of glass so obviously not coming back so I have to pay postage now).
12:40 pm
March 15, 2019
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I once asked why I should pay postage to pay my taxes. The CRA should pay me.
I then sent a missive to my MP (no postage required) with my complaint.
BTW: I suspect they sealed the drop off boxes as a way to general more revenue for Canada Post. Just kidding!
1:25 pm
October 21, 2018
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I do tax returns for 8 people in total. Me, my wife, and several other family members. I switched from Ufile to FutureTax a while ago when Ufile raised their price.
FutureTax costs $16.99 for 10 returns. Ufile is $34.99 for 12.
I know, I'm a cheapskate, but that's just how I roll.
1:30 pm
December 15, 2016
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BlueSky said
IMHO, there's no 100% hack-proof solution anywhere. Whether on-line, or off-line computing, risks do exist. We can do a lot to minimize them, but there's no guarantee. Those, who choose to keep their data on their computer, enjoy knowing that they might have some control over it. However, hackers are so advanced nowadays that they could execute malware even if they are not connected to the Internet at any given moment, all it takes is installing a script for execution. One can only trust the platform used based on the reputation of the company behind it.
"IMHO, there's no 100% hack-proof solution anywhere" How about 99% hack proof ??
I use Studio Tax and as soon as I have netfiled all info, the returns are stored on a USB stick that's in a drawer.
3:56 pm
March 15, 2019
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"the returns are stored on a USB stick"
Data stored on a USB stick could corrupt. Happened to some of my photos.
5:24 pm
October 5, 2017
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bhuc said
Beware, CRA does not have all your T5's .
I received Bank interest from Simplii last year and did infact receive a paper T5.
But CRA did not have the Simplii T5 in their system for download.
I checked on Simplii, they have no ability to print T5's and they state that all T5's have been also sent to CRA.
Bottom line, don't assume that if you do the import data from CRA into the tax software it contains all of your T slips.
So who is at fault here, CRA or Simplii ?
Cheers B
savemoresaveoften said
Simplii showed up on the CRA side under the name of CIBC as Simplii is NOT a legal identity under that name. Mine showed up under my profile like a month.ago if not more.
After a little digging I found this at the Finacial post :
Better double-check your tax return if you've been using the CRA's Auto-fill
Jamie Golombek: According to anecdotal evidence, the feature may be missing tax slips for some taxpayers
5:49 pm
March 15, 2019
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"Better double-check your tax return if you've been using the CRA's Auto-fill
Jamie Golombek: According to anecdotal evidence, the feature may be missing tax slips for some taxpayers"
Sort of defeats the purpose of using auto-fill, eh.
8:14 pm
April 6, 2013
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Auto-fill is a help.
Maybe 12 out of 15 slips are downloaded. One then needs to key in three slips instead of fifteen.
8:15 pm
April 4, 2018
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It is mid April, and not only my t5 form from Simplii, but also my T4 form from my employer are missing from the CRA account. I got the T4 in the mail, so I think the problem is on the feds' end. This is the first year this has happened.
I used TurboTax for years, but this year I quit mid filing when they were forcing me into the Premium version because my husband has a small foreign pension. I do our returns together. At the Premium tier, it would cost $52 for our two returns even with a 25% discount, which I thought was unreasonable. This is new this year; last year I was able to enter the foreign income on the merely "Deluxe" tier, so this was quite jarring. I'm now looking at alternatives.
9:10 pm
April 16, 2020
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Agree with Norman1 in #55 : auto-fill is a big help. Last time I checked (a few days ago now) about 2/3rds of our slips were available on CRA MyAccount to be auto-filled.
10:07 pm
April 6, 2013
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fionag11 said
…I used TurboTax for years, but this year I quit mid filing when they were forcing me into the Premium version because my husband has a small foreign pension. I do our returns together. At the Premium tier, it would cost $52 for our two returns even with a 25% discount, which I thought was unreasonable. This is new this year; last year I was able to enter the foreign income on the merely "Deluxe" tier, so this was quite jarring. I'm now looking at alternatives.
I don't think you even need the Deluxe edition of TurboTax.
My impression was that the more expensive editions just provide more wizards to guide one through the more complicated schedules and forms. There is supposedly a Forms mode where one can just add the appropriate form to the return and then fill it out unguided.
julio shared that the Standard edition can do a return with business, stocks, mutual funds, and rental properties.
For a foreign pension, one will likely need these three:
11:08 pm
April 4, 2018
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@Norman1 It was pretty explicit in stating that I needed the Premium version to report any foreign income. This was new this year. There may still be a workaround with the forms- something to try if someone else is in this position. (Oh, and it appears what used to be called "Standard" - the first paid tier - is now called "Deluxe"- that's the one I was using and have used in the past.)
I've moved on and am now in the middle of filing with Wealthsimple - so far, so good.
5:06 am
March 30, 2017
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My thoughts on auto fill:
If u only have few tax receipts, auto fill is not a big help.
If u have quite a few tax receipts and your tax is somewhat complicated, the time spent to make sure ALL tax receipts are there, may as well type each one in. I find it as I manually input each slip, I have a better grasp of how tax stacks up etc. for example, t5008 are rarely accurate and overwriting it defeats auto fill, esp if you have a few t5008 (some brokers send it as 1 t5008 per company).
Auto fill only make sense if CRA makes themselves responsible if a slip is missing. In other words, it sb an option when CRA automatically file the tax on your behalf, as oppose to ‘use it at your own risk’…
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