With the end of the year approaching quickly, many Canadians are preparing for the tax filing season. In Canada and many other countries, the 2020 tax season was very different. Extended deadlines, enhanced federal benefits, and additional credits made 2020 a unique year for many tax filers. As a result, the Canada Revenue Agency suggests that Canadians begin preparing early for the 2021 season.
Even if you are accustomed to filing your taxes in person, most government agencies and health experts agree that online filing is the safest method this year with the ongoing COVID-19 pandemic. Filing your taxes online can be safe, quick, and easy. The hard part will be determining the right online tax preparer for your needs. Wealthsimple Tax, also known as SimpleTax Canada, is one of several free tax return software products that can make filing your 2021 return easier than ever.
With electric tax software similar Simple Tax, everything is completed online, and there are tips and leaders lengthways the method to help. Filing with online software also ensures that your refund can be available in days instead of weeks. From easy-to-use software to helpful tax tips and efficient filling, there are several benefits to using Simple Tax. Let’s take a closer look at using Simple Tax to file your 2021 taxes.
What is Wealthsimple/SimpleTax?
Simple Tax was created in 2012 as an online tax platform and was recently acquired by one of Canada’s top Robot-advisors, Wealth simple, and was rebranded Wealth simple Tax in 2021. Wealth simple Duty is expert by the Canada Income Activity (CRA) and allowed to utilize its NETFILE transmission service. This allows users to submit their tax returns safely and securely online. It is also accepted by Revenuer Quebec. It is a free tax software and doesn’t have all of the features and additions of other expensive online tax platforms.
How do you file your taxes?
Completing your tax returns online is simple and easy. To use SimpleTax, you will need to enter some basic information, such as your name, social cover amount, date of birth, and other particulars that classify you to the CRA. If you already consume a CRA My Account, Simple Tax can auto-fill your return to populate information from your previous tax and benefit returns. Once you fill out sections that are applicable to you, SimpleTax will help you find qualifying deductions and credits.
Once you have entered all of the required information, the software will review your return for errors and omissions and will also optimize your return to seek the largest possible tax refund. When you complete your taxes, you will be able to submit your return online with just a few clicks and confirmations. If you are registered with the CRA, you will get a Notice of Assessment soon afterward succumbing your tax reappearance. While your information is guaranteed to be secure with Simple Tax, there are some additional steps you can take to ensure the safe transmission of your information.
What are the benefits of using the Simple Tax online service?
The software is considered one of the top tax programs in Canada because it comes with a host of benefits. Once you file your return through the platform, you will have a guarantee that the company will reimburse you if you incur a penalty or interest due to an error. The company also has a all-out repayment assurance that you’ll get the largest repayment likely for your situation. Aside from the guarantees, the process is faster and can be completed on multiple platforms and devices.
With the tax year in Canada quickly coming to an end, it is time to start planning for tax filing season. With SimpleTax online preparation, users can get a simple solution to help make tax season a breeze.