In the Business Portal, you could find everything you need to know about the Business Types according to the business purpose.
In the Financials Portal, you could find everything you need to know about the Financial Statements according to the business types.
In the Income Taxes Portal, you could find everything you need to know about the Income Taxes according to the business types.
In the Software Solutions Portal, you could find everything you need to know about the Software Solutions according to the purpose.
If you have any questions, comments or concerns, please contact us. We will be happy to help.
The two most popular software that are used for accounting and bookkeeping are Sage 50 Accounting (formerly Simply Accounting) and QuickBooks. Sage 50 Accounting could be downloaded from the following link: Download Sage 50 Accounting. QuckBooks could be downloaded from the following link: Download QuckBooks.
Select the Canada Revenue Agency (CRA) certified tax software from the lists below. You will be re-directed to the software developer's web page, where you can access software products that use the CRA's NETFILE web service.
| Tax software | Certified tax years | Platform | Company information |
|---|---|---|---|
| StudioTax for Android | 2019-2023 | Mobile app | BHOK It Consulting |
| Wealthsimple Tax | 2017-2023 | Online | SimpleTax Software Inc. |
| CloudTax Free for iPhone, iPad | 2018-2023 | Mobile app | CloudTax Inc. |
| TaxTron for Web | 2018-2023 | Online | Taxtron Inc. |
| Wealthsimple Tax for iPhone, iPad | 2017-2022 | Mobile app | SimpleTax Software Inc. |
| StudioTax for iPhone, iPad | 2019-2023 | Mobile app | BHOK It Consulting |
| EachTax Free | 2021-2023 | Online | XInfo Technology Inc. |
| CloudTax Free for Android | 2018-2023 | Mobile app | CloudTax Inc. |
| CloudTax Free | 2018-2023 | Online | CloudTax Inc. |
| GenuTax Standard for Windows | 2017-2023 | Desktop | GenuSource Consulting Inc. |
| Wealthsimple Tax for Android | 2020-2022 | Mobile app | SimpleTax Software Inc. |
| H&R Block Free | 2019, 2023 | Online | H&R Block Canada Inc. |
Tax software must be certified by NETFILE every year. Check the software list above to confirm that
your software is certified for the year you need. If you are using uncertified software or an older version of the software,
you may need to update or download a certified version from the developer.Information on how to update your software is available
on the developer's website or from within the software itself.
Check each year the updated information about the Certified
Tax Software by the Canada Revenue Agency on the following link:
Certified by CRA Tax Software.
You may file up to 20 returns per computer or online account using NETFILE-certified tax software in Canada for each tax year. Tax software companies must respect this limit to be certified for NETFILE.
If you are planning to apply to a financial institution for a mortgage or a loan, make sure your
documents are in order.
Usually, if you are employed, the lender requires the two most recent paystubs and the previous
year T4 slip: Statement of Remuneration Paid, but some lenders will request two years T1 Income Tax Returns and two years Notice
of Assessment (NOA) instead.
Please keep in mind that If your employer is your corporation, then the lender might also
require the Financial Statements and/or T2 Corporation Income Tax Returns of your corporation for two years.
However,
if you are self-employed, the lender will be looking for a two years T1 Income Tax Returns and two years Notice of Assessment
(NOA).
Sometimes, the income shown on your paystubs, T4s, T1s, NOAs, Financial Statements and T2s might not be enough for
you to be approved for a mortgage or a loan.
If you need help with that, please feel free to contact us, we will be able
to help, so do not hesitate to write us a message under the Contact Us tab.