Top Canadian Tax Software Programs

The Best Tax Software for Canadian Small Businesses

Today's tax preparation software does more than just let you calculate your income tax and send in your return. Most tax software programs include tax planning features so you can analyze different income tax scenarios. If your business is a sole proprietorship or partnership, you'll be able to use any of the Canadian tax software in this article; if your business is incorporated, your options are more limited as you need tax software specific to the T2 tax return.

All these Canadian tax software programs are Canada Revenue Agency approved. There can be quite a difference in price, though, as you'll see in the comparison cost of the version of the software or web app that you would need to use the T1 tax form for a sole proprietorship or partnership.

1
Intuit Turbotax (QuickTax)

woman entering income tax receipts
Income tax time.. Image (c) PeopleImages/ Getty Images

This user-friendly Canadian tax software program lets you prepare your income taxes easily and quickly. The EasyStep Interview leads you through the tax preparation process by asking questions in plain English, and tax planning is a snap because of the ability to run multiple tax scenarios, and features such as the capital gains analyzer and incorporation analyzer. Three business versions are available for Windows, TurboTax Home & Business, TurboTax 20 Returns and TurboTax Business Incorporated. There is also an Online Edition available, TurboTax Home & Business. And there's a mobile tax app for Apple iOS.

Imports: data from UFile.

Cost: Home & Business software download (12 returns with single user license): $109.99 CAN

Online version of TurboTax Home & Business: $49.99 CAN per return More

2
GenuTax

young man working on income tax
Working on income tax.. Image (c) Iaartist/ Getty Images

This Canadian tax software program has two things going for it that really appeal to me. The first is that GenuTax is free and that includes future annual updates. (The website asks that users pay by modest donation.) The second is that you can prepare and file up to 20 tax returns for the current tax year and the past tax year. (Some other tax preparation software programs designed for public use allow you to do fewer returns.) As is common, you work through an interview process to complete your tax return. The downside? You can't use this tax software if you live in Quebec or for preparing corporate tax returns. A separate tax planning software, GenuTax Planner, is also available.

Imports: unknown

Note: The software update for GenuTax Standard that includes the ability to prepare tax returns for 2015 is now scheduled to be available for download by February 29, 2016. As of date of writing, for the 2015 taxation year, NETFILE certification of GenuTax Standard from the CRA has not been obtained. Please consult the CRA website netfile.gc.ca or http://www.genutax.ca to determine GenuTax Standard's certification status.

Cost: GenuTax Standard software download: pay by "modest donation". More

3
TaxTron

closeup of TaxTron product box
Canadian income tax software.. Image (c) TaxTron

TaxTron used to be GriffTax and is still the only fully functional user-friendly Canadian tax preparation software available in both individual (T1) and corporate (T2) versions for Macintosh OS. However, there is a version of this tax software available for Windows, too, that you can use to do your individual and/or business income tax. (Note that the Corporate version is now available for Windows too.) All versions are quick, easy, and fully bilingual, using a step-by-step approach to guide you through the tax preparation and filing process.

Imports: unknown

Cost: TaxTron Individual online version: $12.99 CAN More

4
Cantax

mature man working on income tax
Doing income tax online.. Image (c) Courtney Keating/ Getty Images

Originally designed as software for tax professionals, Cantax has evolved into a line of tax preparation software for every need. Two of this Canadian tax software's features that I really like in the T1Plus edition are the Quick Entry screen where you can enter the data from different forms onto a single screen and the Pathfinder that makes it easier to move between form(s) and the return. If you want to prepare only a small number of returns, look for the low volume products such as T1Plus Home Office, or, for corporate returns, Cantax T2.

Imports: data from TurboTax or ProFile.

Cost: T1Plus Home Office software download (15 returns with single user license): $144.00 CAN More

5
UFile for Windows

woman entering income tax receipts
Tax software helps.. Image (c) PeopleImages/ Getty Images

Essentially with this tax preparation software, you enter your income tax information using an interview interface. Currently this Canadian tax software program only offers personal income tax preparation (T1), but it has the capability to handle any kind of self-employment income and calculate capital gains - and can be used by Quebec residents. UFile also offers online income tax preparation and filing.

Imports: data from H&R Block or TurboTax.

Cost: UFile 4 for Windows (4 returns with single user license): $19.99 CAN

Online version of UFile: $17.99 CAN per return (add spouse for $10.00 CAN) More

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