TurboTax Canada Personal Tax Software for the 2016 Tax Year

 
TurboTax Canada - formerly QuickTax


Discounts and Deals

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TurboTax is Canada's favourite tax software because:

  • Easy to install and update
  • Simple to use
  • FREE support
  • 100% Accurate & Compliant to all Canadian tax laws

Canadians love TurboTax because:

  • It is designed to find every deduction available to you - maximizing your refund
  • Your maximum refund is guaranteed (see site for details)
  • TurboTax gently guides you step-by-step through your return
  • Canada’s #1 best selling tax software

According to Revenue Canada's latest personal tax filing data, 26,333,940 Canadians filed income tax returns for the tax year 2011. This number represents approximately 77 percent of the entire population of Canada at the time. It takes a great deal of time for the Government to process all the tax returns and to develop these statistics so, unfortunately, these are the most recent numbers. (Sorry, there is no data for 2012 yet) None the less, they paint an impressive picture of how many Canadians are filing and paying income taxes. So you are not alone. You are also not alone in researching tax preparation software. Google Trends reports an over 80% increase in searches for the keyword "TurboTax" since 2010.1

Intuit's TurboTax claims to be the #1 tax preparation software in Canada. The Google Trends data confirms this statement. The nearest competition to the TurboTax suite of products would be H&R Block but, until their recent release of similar consumer tax preparation software, they only offered storefront walk-in services. So, look out TurboTax, there is finally some competition in town.

TurboTax offers several varieties of versions. Choosing the one that is right for your needs can get pretty confusing because many of the products are so similar but have important differences. So, be careful, know and understand which version you are buying. These different versions can be divided into 2 distinct categories: personal and business editions. Both are available in either last year's version as well as the present year's version. On top of all that, all of these editions are available in either English or French language versions. The personal edition can be broken down further into three different sub-versions: Basic, Standard and Premier. Each one has different allowances for the number of tax returns that you can complete as well as how complex the return can be. There are also some versions that offer more returns than others or combine TurboTax tax preparation software with Quicken personal finance software. TurboTax have stopped publishing in depth details about their products on their website so we decided to fill the gap here.

Question: Can I claim the cost of TurboTax software as a Canadian tax deduction? Unfortunately, you cannot. This software is not a valid deductable expense so please do not try to claim it on your Canadian income tax return. Typically, you can only deduct expenses that were incurred as part of earning income.

Note 1: https://www.google.ca/trends/explore#q=turbotax



Home/Personal Tax Preparation Software for the 2016 Tax Year - CD and download

 
Ideal for simplest tax returns.
* Windows
* 8 Returns included
* T4s
* Charitable donations
Ideal for uncomplicated tax returns.
* Windows
* 8 Returns included
* T4s
* RRSPs
* Spouse and dependants
* Charitable donations
* Medical expenses
Ideal for more complex tax returns with investments and rental properties.
* Windows
* 12 Returns included
* Includes all the features of the Standard Edition plus:
* Stocks and bonds
* Mutual funds
* Employee stock plans
* Rental property income and expenses
Ideal for both personal and self-employed tax returns.
* Windows
* 12 Returns included
* Includes all the features of the Premier Edition plus:
* Sole Proprietors
* Consultants & contractors
* Unincorporated businesses