Wealthsimple Tax

Overview

Wealthsimple Tax is a web-based tax filing service for Canadian residents that enables users to prepare and submit personal tax returns to the CRA via NETFILE. It supports multiple tax profiles per account, up to 20, allowing preparation for individuals or couples with linked returns to optimize credits and deductions. Users link CRA My Account for auto-fill of tax slips, manage forms through a guided interface, review summaries, and submit returns.

Key Features

• Multiple Profiles - Manage up to 20 tax profiles per account for different individuals or tax years.
• CRA Auto-fill - Link CRA My Account to automatically import tax slips and documents.
• Couple Linking - Link profiles for married or common-law partners to optimize credits and deductions.
• Form Management - Search and add tax forms with guided entry for various income and deduction sections.
• Return Summary - View line-by-line breakdown of return amounts and associated documents.
• NETFILE Submission - Directly submit tax returns to CRA with confirmation and PDF download option.
• Tax Plans - Select from Basic, Plus, or Pro plans during setup, changeable later.

Pricing

Platforms & Requirements

Wealthsimple Tax is available only on web via my.wealthsimple.com; the mobile app is no longer supported. Requires a Wealthsimple account login with email and password or passkey. Compatible with CRA NETFILE for Canadian residents with SIN.

Integrations & Ecosystem

• CRA My Account (auto-fill tax slips)
• NETFILE (CRA submission)
• Wealthsimple investment accounts (tax documents)
• PDF export of returns

Alternatives

Reputation

Wealthsimple Tax is recognized for its user-friendly web interface, fast CRA auto-fill, and quick refunds as noted in user testimonials. It supports straightforward to moderately complex Canadian returns effectively within NETFILE limits. Criticisms include lack of mobile app support and potentially limited features in the free Basic plan for advanced scenarios.