Wealthsimple Tax (formerly SimpleTax) is free Canadian tax software that aims to make filing your taxes easy. There’s no downloading necessary – you can go through the process right in your internet browser with step-by-step instructions and auto-fill features. And with maximum refund and accuracy guarantees in place – it’s worth giving it a shot. You’ll even be able to transfer prior year data, an option only available on a handful of other tax software.
But without a mobile app for Android users, plus so many free tax software out there, how does Wealthsimple Tax stack up against its competition? We’ll take a look at all the pros, cons, and alternatives.
Wealthsimple Tax features
Why You Want It
Easily file your taxes for free + Get a 100% accuracy guarantee.
Special Features
- Maximum refund guarantee
- RRSP calculator
- Auto-fill available
Eligibility
- Canadian citizen
Provinces
ALL
Features
Fee Per Basic Return
$0
Free Version Available?
Requirements For Free Version
- Always
Import Prior Year Data?
Import Prior Year Data From Another App?
Free Support Available?
Accuracy Guarantee
Mobile App?
Access To Tax Expert
Wealthsimple Tax product rating: 3.6 stars
Wealthsimple Tax offers Canadians an easy way to file their taxes – and it’s completely free. Plus with auto-fill features and the ability to import prior year data, it’s a good option for your tax needs.
That being said, if you like to have instant support, you may want to look elsewhere. You can only chat with their support team through emails, which can involve response times of a day or more.
Wealthsimple Tax did well in all categories, but lost a bit of ground when it came to its lack of live-support options.
Rating methodology
In order to come up with our star ratings for the products we review, we come up with a list of important features tax software tends to offer. This is how we filled in the 1st column of the table above. We then put Wealthsimple Tax in the 2nd column and gave it a score out of 5 for each row. Add them all together, divide by how many features we measure, and you have our product rating.
Learn more about our rating methodology.
The pros of Wealthsimple Tax
Let's go over what's good about Wealthsimple Tax.
Pros
It's free to use
The best part about Wealthsimple Tax is that it's absolutely free. You'll be asked to make a donation once you've submitted your return – but it's completely optional and you're under no obligation. If you do choose to send them a donation, you'll get some extra charts to play around with.
100% accuracy guarantee
If you're worried about depending on tax software for your tax returns, Wealthsimple Tax's accuracy guarantee can hopefully give you some reassurance. If you provide "complete and accurate information" but you were charged with a penalty because of a calculation error, Wealthsimple Tax will reimburse you the penalty.
Support for all provinces – even Quebec
No matter what province you're in, you can use Wealthsimple Tax. And yes, that includes Quebec.
Covers simple tax situations, plus some complex ones
Most tax software can handle the simple tax situations where you just have one T4 to deal with. But what's nice about Wealthsimple Tax is they also cover business, rental, and investment income – opening it up to more people.
Ability to import prior year data
Some tax software will make you start from scratch every year you do your returns – but Wealthsimple Tax lets you import your prior year data for a quicker and more seamless experience.
The cons of Wealthsimple Tax
And what are some things you should be aware of?
Cons
Support is through email only
If you prefer asking support questions through live chats or even a quick call, Wealthsimple Tax may be a bit frustrating for you. The only support they offer is through their email, though they do promise to get back to you as soon as they can.
There is no app
While there used to be one, the app has since been shut down and is no longer supported.
Limit of 20 returns per account
While this likely won't be an issue for the majority of users, if you need to make a bunch of separate returns, Wealthsimple Tax will cut you off at 20.
Wealthsimple Tax alternatives
What are some Wealthsimple Tax alternatives?
 |  | |
|---|---|---|
| Account | H&R Block | TurboTax |
| Genius Rating | ||
| Why You Want It | Save 25% on your tax filing through moneyGenius. | Fast, easy tax filing + 100% accuracy guarantee + 20% off your purchase. |
| Fee Per Basic Return | $0 | $20.99 |
| Free Version Available? | | |
| Requirements For Free Version | See Issuer for Details |
|
| Import Prior Year Data? | | |
| Import Prior Year Data From Another App? | | |
Show More | ||
| Apply Now See more H&R Block products Compare | Apply Now See more Turbotax products Compare |
FAQ
What's Wealthsimple Tax?
Wealthsimple Tax (formerly known as SimpleTax) is free tax software for Canadians, which means you can use it to file your tax returns. You can access it through their website or on your Apple device with their app. Find out more about Wealthsimple Tax.
Is Wealthsimple Tax safe?
Yes, Wealthsimple Tax is a certified NETFILE tax software. It's completely free and you're even backed by a 100% accuracy guarantee in the case of a calculation error that leaves you with a penalty charge or interest.
Can you use Wealthsimple Tax in Quebec?
Yes, Wealthsimple Tax is available in all provinces, including Quebec.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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