You've heard of CSA certification and OSHA certification. That means these products have gone through rigorous testing and been found to be quality products. Have you ever heard of the Canadian government actually promoting a product on the Canada Revenue Agency (CRA) website?
Well, now you have. UFile software for filing your taxes appears on the CRA website with links to the UFile website. UFile must be doing something right!
There are many ways to file your taxes in Canada, not just with UFile. Here's a guide that will show you the benefits of using UFile.
Is UFile Free?
Since it's a tax filing program that is promoted by CRA, you're probably wondering how much is UFile. We have good news for you if your situation falls under any of the following categories. You may be one of the millions of Canadian taxpayers that don't have to pay anything at all to file taxes online in Canada for free!
UFile has joined with the Canadian Federation of Students to provide this amazing service for free! If you attended a post-secondary institution for at least one month of the tax year you're filing for, you're eligible!
You do need to have paid tuition fees during that year and be prepared to claim them as an educational expense. As you begin your return you will see a "Special offer" in the left-hand navigation. There will be a Canadian Federation of Students special offer code CFS1981.
You are now going to be able to complete and file your taxes and pay absolutely nothing!
Your Tax Return Is Simple
You are reporting income from a single slip such as a T4 or a T4A(OAS). Your tax credits should be the simple ones too, just the non-refundable type with no deductions or credits. For example, if you have RRSPs or charitable donations, you are not eligible.
You Are New to Canada or Filing for the First Time
If you can click the box that asks if you're filing for the first time in Canada, you don't have to pay! UFileFREE is available to you and introduces you gently to the joys of the annual ritual of filing your taxes in Canada!
You Are A Low-Income Taxpayer
If your total family income is lower than $20,000, you can also file your taxes online with UFileFREE. To calculate your total family income, you add together the total income from line 150 of the federal tax return of all family members.
How Much Does UFile Cost If You Don't Fall Under Any of the Above Categories?
Most individuals who don't fall under any of the above categories end up paying $19.95 to use UFile online to do their taxes. If you choose to use the Windows version, you will pay $22.99 upfront for the download.
If you opt for UFile Premium which is an online version, you get the additional feature of priority email, telephone and chat support. They also add the carrot of some freebies and exclusive benefits for that additional $10 cost.
Businesses tend to pay considerably more.
For the Windows version of UFile, a small business will pay $22.99 - $34.99 for the download. Before you start filing, be sure you are familiar with all the deductions available to small businesses in Canada. You can find this information in Insurdinary's blog article.
A big investor or someone with rental income will pay the same amount as a small business. For larger businesses, costing the service isn't easy as the overall cost of software can include subscription fees, training, customization, support and other related services.
Using premium support services can get costly, but that is true for most tax return software and businesses do expect and budget for these expenses.
Is UFile Safe?
NETFILE is responsible for the safety and privacy of your tax information. If you want to know if tax filing software is safe and certified by NETFILE, CRA keeps an ongoing list.
UFile uses the same level of encryption that is used by banks. You should make sure you're using a unique password for your data and not the name of your favourite dog.
How Do I Use UFile?
UFile is a secure online application or a software program you can download that is not connected to the internet. If you choose to use the downloaded version, you lose some of the functionality, but some people prefer this option since they like to save their work onto their own device.
To get started using the UFile online program, you will need to go to the UFile login page and click on 'Create New Account'. You will then be prompted to fill in your username and a secure password as well as your email address. The program will lead you through how to use UFile to autofill your information.
You can leave your work and go back to it later and simply use the UFile sign-in link to go back to where you left off.
Here are the steps on how to use UFile downloadable program.
Go to UFile's site for downloading the software. You need to follow the setup instructions and decide where you want to install the program.
On the Start page, there are some useful resources. You will see the option of carrying forward a tax file from the previous year, you can start a new file or open an existing file.
Activation and Registration
If you never used UFile for Windows before, you need to start with this. The is a UFile Activation Key inside the box or in your email confirmation, depending on whether you purchased the product in a store or online.
You don't have to register your UFile software, however, you do get free support and email notification of UFile news and free program updates.
Preparing Your Tax Return Using UFile for Windows
As an experienced filer of taxes, you know having all your documentation is the best starting point. You don't want to be running around collecting T4s and receipts while you're working on filing your taxes.
On your desktop, now that you have installed the program, you'll have a UFile icon for the current year.
When you get to the Start page, you have the option of importing the personal data and tax carryforward amounts from the previous year. You just have to click on Carry forward a tax file and select the right one.
If you haven't used UFile before, click on the option Start a new tax file.
You now have an Interview to complete. Here you will fill in the tax information for all your family members. You can add a spouse or add new dependents during this process.
It's important to include all family members since, even though they may not be filing their taxes using UFile, the program can still calculate relevant deductions or notify you of transferable amounts.
Once you have completed this, you can review the tax results. If you have made any errors or forgotten some information, you'll be notified of this by the UFile program. You can click any line number for information on where the amount entered on that line comes from.
Keep an eye on the bottom panel display while you're working. It will pick up on any missing information or illogical entries and provide tips to correct these.
If at any point you need help, there is a ? icon on the top banner that will take you to an index. It will point you to all the available help.
Now you can view your tax return. You'll be able to go over all the schedules, forms and work charts. You can still make any changes required.
Once you are sure all the information is complete and accurate, click on NETFILE. This will send in your completed return to the CRA and/or Revenu Quebec.
Where to Download
iOS | Android
Yes - PC | Online
There are many reviews of UFile Canada available online. Insurdinary did a review of the best tax return software for Canadians and UFile did make the cut. Hosting Canada says "UFile is one of the best tax filing software programs in Canada for 2021 and beyond" which is high praise indeed.
Sagar who authors the personalfinancefreedom.com blog is impressed by UFile's ability to access over 230 forms and slips and store your tax returns for up to nine years.
When you look at overall individual reviews, there are some complaints because UFile does not have a mobile app. At this time, we don't know if UFile is planning to create one, because it seems to be a popular objection. First-time tax-filers and low-income earners are generally pleased with UFile's functionality.
Some users really like the fact that you can import your tax information from CRA into the platform. Higher-income earners that didn't like paying to do their UFile tax return were occasionally negative about the software.
Whether or not you opt to do your taxes with UFile, you may need to compare financial institutions to ensure you're getting the best value for your money. You may also want to get a quote on the best insurance policy for you and your family or simply look for some financial advice in Insurdinary's blog. Visit Insurdinary today!