Wealthsimple Tax is Wealthsimple’s online tax filing software, certified by the CRA and Revenu Québec, and it is free if you want it to be: the Basic plan lets you file your return for whatever you choose to pay, including nothing. Wealthsimple says its tax filing is trusted by over 2 million Canadians. This Wealthsimple Tax review explains what each plan costs and adds, which documents to gather, how to file a tax return step by step, what the free Wealthsimple tax calculator can and can’t tell you, how Wealthsimple Trade investments are taxed, and when a different program is the better choice. YieldMaple rechecked Wealthsimple’s tax pages in English and French and the CRA’s Wealthsimple Tax certification page on September 29, 2026; the pricing page and competitor prices were checked on September 23, 2026. Prices below apply to 2025 returns and can change before the 2027 filing season.
Wealthsimple Tax at a glance
| Item | Current figure | Source |
|---|---|---|
| Wealthsimple Tax pricing | Basic: pay what you want; Plus: $40 + tax (free for Premium); Pro: $80 + tax (free for Generation) | wealthsimple.com Verified October 7, 2026 |
| NETFILE certification | CRA and Revenu Québec NETFILE-certified (tax years 2023–2025) | wealthsimple.com Verified October 7, 2026 |
| Premium plan threshold | $100,000 | wealthsimple.com Verified October 7, 2026 |
| Generation plan threshold | $500,000 | wealthsimple.com Verified October 7, 2026 |
| Wealthsimple Tax maximum refund guarantee payout cap (competitor software fee) | $50 | wealthsimple.com Verified October 7, 2026 |
| Tax years you can NETFILE (as of September 2026) | 2018 to 2025 (amendments through ReFILE for 2022 to 2025) | canada.ca Verified October 7, 2026 |
| CRA timing for a notice of assessment and refund after filing online | usually within 2 weeks | canada.ca Verified October 7, 2026 |
| Personal tax filing due date | April 30 for most people; June 15 if you or your spouse or common-law partner are self-employed | canada.ca Verified October 7, 2026 |
Wealthsimple Tax pricing is Basic: pay what you want; Plus: $40 + tax (free for Premium); Pro: $80 + tax (free for Generation), per Wealthsimple’s tax page. It is CRA and Revenu Québec NETFILE-certified (tax years 2023–2025). Premium status starts at $100,000 in assets held at Wealthsimple and Generation at $500,000, which is what unlocks the free upgrades. The CRA’s NETFILE service accepts tax years 2018 to 2025 (amendments through ReFILE for 2022 to 2025), its timing for a notice of assessment after an online return is usually within 2 weeks, and the filing deadline is April 30 for most people; June 15 if you or your spouse or common-law partner are self-employed.
Wealthsimple’s legal disclaimers say the tax product is offered by SimpleTax Software Inc., a Wealthsimple affiliate, and that is the company name on the CRA’s software list. The CRA lists only an online version, so it runs in a web browser with no desktop download.
Is Wealthsimple Tax really free?
Yes: the Basic plan is pay what you want, you can pay nothing, and no tax form is locked behind a paid plan.
Wealthsimple’s tax page is explicit that Basic has no restrictions on what you can file. Employment, investment, rental and self-employment income, capital gains, foreign income and foreign tax credits, donations, medical expenses and childcare expenses are all available without upgrading. The paid plans sell service: faster support, audit help, more returns and, on Pro, time with a tax expert.
That is the real difference from software that is free only for simple returns. H&R Block’s online Free package is $0 for straightforward returns with T4 income and standard deductions, per its pricing page (September 2026). Claiming donations or medical expenses there moves you to Deluxe at $29.99 a return, and capital gains need Premier at $49.99.
The catch, such as it is: Wealthsimple Tax sits inside a bigger app, and Wealthsimple says bringing your investments over unlocks the paid plans for free. Basic still carries the maximum refund guarantee. If you refile before December 31, 2026 with a competitor’s software, enter identical information and get a bigger refund or a smaller balance owing, Wealthsimple refunds that software’s fee up to $50, or any optional payment you made, whichever is greater.
Wealthsimple Tax Basic vs Plus vs Pro: which plan do you need?
Basic is enough for most people filing one or two returns; Plus suits bigger households or anyone who wants audit help, and Pro suits people who want a tax expert.
| Feature | Basic | Plus | Pro |
|---|---|---|---|
| Returns per Wealthsimple account | 2 | 8 | 9 or more (up to 20) (better on this row) |
| Every supported form and income type | Included (better on this row) | Included | Included |
| Maximum refund guarantee | Included | Included | Included |
| Auto-fill from the CRA, Revenu Québec and Wealthsimple accounts | Included | Included | Included |
| Email support (technical, not tax advice) | Standard, 3-day target | Priority, 1-day target | Priority, 1-day target |
| Audit protection and year-round tax support | Not included | Included | Included |
| One-on-one consultation with a tax expert | Not included | Not included | Included (English only) |
| Available to Quebec residents and in French | Yes | Yes | No |
| Free for | Everyone who chooses to pay nothing | Premium clients ($100,000 or more in assets) | Generation clients ($500,000 or more in assets) |
Sources: wealthsimple.com/en-ca/tax (rechecked September 29, 2026) and wealthsimple.com/en-ca/pricing (checked September 23, 2026). Wealthsimple dates its plan chart December 2025.
Basic covers two returns per Wealthsimple account, which fits a single filer or a couple. Support is by email with a standard three-day target, and Wealthsimple says support covers technical problems, not tax advice.
Plus raises the limit to eight returns and adds priority email support with a one-day target, audit protection (Wealthsimple’s audit support service helps if the CRA or Revenu Québec reviews or audits any of your returns) and year-round tax support. Premium clients, with $100,000 or more at Wealthsimple, get it free.
Pro includes everything in Plus, allows nine or more returns (up to 20, the CRA’s per-account limit for NETFILE software), and adds a one-on-one live consultation with a tax expert, who follows up by email and reviews your return. Pro is English only and not available to Quebec residents. Generation clients, with $500,000 or more, get it free.
In French the software is called Wealthsimple Impôt, and the plans are De base (Basic), Étendu (Plus) and Complet (Pro). Per Wealthsimple’s French tax page, you can file in French on the Basic (De base) and Plus (Étendu) plans; the Pro (Complet) expert review is in English only.
A quick way to choose:
- Pick Basic if you file for yourself or a couple, you’re comfortable working through the return on your own, and you’d handle a CRA review letter yourself.
- Pick Plus if you file three to eight returns from one login (for example, parents and teenagers with summer jobs), or you want someone in your corner if the CRA asks questions.
- Pick Pro if you want a tax professional to look over a return with self-employment, rental or investment complexity, and you live outside Quebec.
Filing for a parent or an adult child? The CRA says you must be set up as their authorized representative before you can see their online tax information, which Auto-fill My Return needs.
How much does Wealthsimple Tax cost for a family?
A couple pays whatever they choose on Basic; a family filing four returns from one Wealthsimple account needs Plus, which works out to about $10 a return before tax.
Take a household of four: one parent with a T4 and an ETF sale in a non-registered account, one parent with a T4 plus donation receipts and medical expenses, and two teenagers with summer-job T4s.
- Wealthsimple Tax: four returns is more than Basic allows on one account, so the household needs Plus, $40 plus tax for all four. If the family already holds $100,000 or more at Wealthsimple, Plus is free.
- H&R Block online: the teenagers’ simple T4 returns fit the free tier, but the parent with the ETF sale needs Premier ($49.99) and the parent with donations and medical expenses needs Deluxe ($29.99), for $79.98 before tax.
- TurboTax Do It Yourself: the same split applies. The teenagers fit TurboTax Free, the parent with the ETF sale needs Premier ($50) and the other parent needs Deluxe ($30), for $80 before tax.
- GenuTax: free for everyone (donations are optional), including future annual updates, and it prepares up to 20 returns per tax year, with no income limit, but it is a Windows download (Windows 7, 8.1, 10 or 11) — no Mac, web or phone version.
For this family, Wealthsimple Tax Plus costs about $40 less than H&R Block or TurboTax before tax. Drop the teenagers and the gap widens: the two parents fit on Basic and pay what they choose, while the same two returns still cost $79.98 at H&R Block. These are 2025-return prices, so check both providers’ pages again before you file in 2027.
What documents do you need for Wealthsimple Tax?
You need access to your CRA account for Auto-fill My Return, every tax slip issued to you, and receipts for donations, medical and childcare expenses, per Wealthsimple’s tax page.
Wealthsimple’s own checklist for switching to Wealthsimple Tax is your CRA My Account for Auto-fill (T4 and T5 slips), plus receipts for medical expenses, charitable donations and childcare expenses. Behind that short list sits a longer one, because Auto-fill can only import what the CRA has received. Gather these before you start:
- Employment and benefit slips: T4 from each employer, T4E for Employment Insurance, and T4A slips for pension or other income.
- Investment slips: T5 for interest and dividends, T3 for ETF and mutual fund distributions, and T5008 for investments you sold.
- Registered account slips and receipts: RRSP contribution receipts, T4RSP if you took money out of an RRSP, and T4FHSA for a first home savings account.
- Receipts Auto-fill can’t see: charitable donations, medical expenses, childcare, and self-employment or rental income and expenses.
- Your own records: what you paid for each investment you sold (the adjusted cost base), especially for shares transferred in from another brokerage.
When do tax slips arrive?
The CRA says to expect most slips and receipts by the end of February; T3 and T5013 slips may not arrive until the end of March. It adds that receipts for RRSP contributions made in the first 60 days of the year may not arrive until May, so an RRSP contribution made in January or February for the previous tax year can be the last document to show up. That timing is why Auto-fill My Return usually has a fuller picture from mid-March, though a T3 slip for ETF or mutual fund distributions can still arrive later. If a slip is missing, the fix is with the issuer (your employer, bank or brokerage), not with the tax software.
How do you file a tax return with Wealthsimple Tax?
Start a return, import your slips with Auto-fill My Return, add receipts and deductions, review, then send the return through NETFILE from inside the software.
- Update your CRA details first. The CRA says direct deposit, mailing address and notification preferences can’t be changed inside tax software, so change them in your CRA account and allow time for processing.
- Wait for your slips. The CRA says it should receive most slips from employers, banks and other third parties by mid-March. Filing earlier often means typing slips in by hand, and a slip missing from Auto-fill is something to chase with its issuer.
- Start your return on Wealthsimple Tax. If you’re already a Wealthsimple client, your name and address are filled in for you. Returns are counted per Wealthsimple account, but you don’t need to invest or bank with Wealthsimple to file.
- Connect Auto-fill My Return. Sign in to your CRA account through the software to import your slips (Quebec residents can also import from Revenu Québec). Wealthsimple Tax can also import investment information from your Wealthsimple accounts. Auto-fill fills in your NETFILE access code too; if this is your first return, you won't have an access code — the code is optional, and the software can still send the return.
- Add what Auto-fill can’t see. That means donation, medical and childcare receipts, self-employment income and expenses, rental income and expenses, and sales of investments the slips don’t fully describe. Check RRSP and FHSA contributions against your receipts; the guides to the Wealthsimple RRSP and Wealthsimple FHSA explain how those deductions work.
- Review the suggestions and the summary. Wealthsimple says the software searches hundreds of credits and deductions and, for couples, works out who should claim what. The CRA is clear that checking the return is your responsibility, whichever software you use.
- Send the return with NETFILE. The software shows a confirmation code once the CRA has received the return; keep it. The CRA’s timing for your notice of assessment and any refund is usually within 2 weeks.
- Pay any balance owing on time. It is due April 30, even if your filing deadline is June 15.
Is Wealthsimple Tax NETFILE-certified and safe?
Yes: Wealthsimple Tax is CRA and Revenu Québec NETFILE-certified (tax years 2023–2025), and it appears on the CRA’s list of certified software.
The CRA’s details page lists the product as Wealthsimple Tax (Online), with Auto-fill My Return, NETFILE, ReFILE (for changing a return you’ve already filed) and Form T1135 (foreign property) among its services, and prices it as free with optional paid services. On security, Wealthsimple says it uses two-step verification and encryption and does not sell client data.
Keep two limits in mind. First, certification covers sending the return, not privacy: the CRA says it does not look at software developers’ privacy policies and can’t be held responsible if programming errors affect the amounts calculated. Second, certification is year by year. As of September 2026 the CRA lists Wealthsimple Tax for the 2023 to 2025 tax years; before you file a 2026 return, confirm it has been certified for that year too.
What can’t Wealthsimple Tax handle?
Wealthsimple Tax can’t e-file emigrant returns, returns for years before 2023, or a short list of specialist forms, and NETFILE itself doesn’t accept deceased or bankruptcy returns.
For the 2025 tax year, the CRA’s details page says Wealthsimple Tax does not electronically send:
- Emigrant returns, for the year you leave Canada
- Form T2203, provincial and territorial taxes for multiple jurisdictions (for example, business income earned in more than one province)
- Form T1134, the information return for foreign affiliates
- Form T217, the mark-to-market election
- Forms T2057 and T2059, tax-deferred transfers of property to a corporation or partnership
- Forms T1163 and T1273, the AgriStability and AgriInvest farming statements
- Documents through the CRA’s Submit E-Documents feature
Beyond that list, NETFILE doesn’t accept a deceased person’s return or a bankruptcy return from any software. Wealthsimple Tax is also personal (T1) software, so a corporation’s T2 return needs separate software or an accountant. And if you want a professional to give advice rather than technical help, only the Pro plan includes it.
What it does handle, per Wealthsimple and the CRA: capital gains and losses, T5 and T3 investment income, rental income and expenses, self-employment, foreign income with foreign tax credits, and the T1135 foreign property form, which it can e-file.
How does the Wealthsimple tax calculator work?
Wealthsimple’s free 2026 income tax calculator estimates your federal and provincial tax, after-tax income, and average and marginal tax rates from a few numbers you enter.
You pick a province or territory, then enter employment income, self-employment income, RRSP and FHSA deductions, capital gains, eligible and ineligible dividends, other income (rental, interest, tips, EI, CPP and OAS) and income tax already paid. It returns total income, federal and provincial tax, after-tax income, your average tax rate and your marginal tax rate. Wealthsimple says the rates are current as of July 20, 2026, and that the calculator includes half of a capital gain in income.
The Wealthsimple Ontario tax calculator
Every province and territory has its own page, including Ontario. The Ontario version works the same way and adds tables of the 2026 federal and Ontario tax brackets, plus short answers on Ontario deadlines, deductions and how long to keep records. It’s a handy check on which bracket your next dollar falls into before you decide on an RRSP contribution.
What the calculator leaves out
The calculator applies only a handful of non-refundable credits: the basic personal amount, CPP/QPP, QPIP and EI premiums, and the Canada employment amount. It has no fields for donations, medical expenses, tuition or childcare, so treat its result as a ballpark. It also doesn’t file anything; the return itself is prepared in Wealthsimple Tax.
The most useful trick: enter an RRSP contribution in the deductions field and watch total tax fall. The drop is roughly the contribution times your marginal rate, as long as it doesn’t push you into a lower bracket. Before you rely on that deduction, check your room. The CRA’s rule is unused room carried forward, plus the lesser of 18% of last year's earned income and the annual RRSP limit, minus your pension adjustment, and the helper below estimates it; the RRSP calculator projects what the contribution could grow to.
How are Wealthsimple Trade investments taxed?
Taxes depend on the account, not the app: TFSA gains are tax-free, RRSP money is taxed when withdrawn, and non-registered accounts are taxed on income and on gains when you sell.
- TFSA: investment income and gains aren’t taxed, and neither are withdrawals, unless the CRA decides your trading amounts to running a business inside the account. The TFSA tax trap guide covers where that line sits. US dividends paid into a TFSA could be subject to foreign withholding tax, per the CRA's TFSA guide.
- RRSP: contributions are deductible and growth is sheltered, but withdrawals are taxed as income. Under the Canada–US tax treaty, dividends and interest earned by a retirement plan are exempt from US tax, as long as the plan is operated exclusively to provide pension, retirement or employee benefits.
- FHSA: contributions are deductible, and a qualifying withdrawal to buy your first home isn’t taxed.
- Non-registered accounts: you report dividends, interest and capital gains or losses in the year you sell. The treaty caps US tax on dividends to a Canadian resident at 15%, and you can claim a federal foreign tax credit (line 40500) for foreign tax paid on income you report on your Canadian return.
At tax time, Canadian brokerages report sales on T5008 slips and income on T5 and T3 slips, and Auto-fill My Return imports the ones the CRA has received. Wealthsimple Tax can also pull investment information straight from your Wealthsimple accounts. Keep your own record of what you paid for each holding (your adjusted cost base), especially for shares you transferred in from another brokerage: the CRA makes checking that the return is accurate and complete your responsibility, whatever a slip shows. The Wealthsimple Trade review covers the trading side, and the guide to buying US stocks from Canada covers withholding tax and Form W-8BEN.
When can you file your 2026 taxes with Wealthsimple Tax?
You can file 2026 returns once the CRA opens NETFILE for them (no date announced yet), and most people must file by Friday, April 30, 2027.
The deadline rule is April 30 for most people; June 15 if you or your spouse or common-law partner are self-employed. Here is the calendar that matters for the 2027 filing season:
- Now: late 2025 returns can still go through NETFILE, whose window for them is February 23, 2026 to January 29, 2027.
- RRSP deadline for 2026: the CRA date is not yet posted on canada.ca (as of September 23, 2026); by law, a contribution counts for 2026 if you make it on or before the day that is 60 days after the end of the tax year. For comparison, the 2025 deadline was March 2, 2026. The RRSP deadline guide tracks the date.
- Mid-March: the CRA should have most slips, so Auto-fill My Return is at its most complete.
- Friday, April 30, 2027: filing deadline for most people, and the due date for any balance owing, April 30, even if your filing deadline is June 15.
- Tuesday, June 15, 2027: filing deadline if you or your spouse or common-law partner are self-employed.
The CRA charges a late-filing penalty only if you owe tax, but filing late can also delay benefit and credit payments such as the Canada child benefit. The penalty is 5% of your balance owing plus 1% for each full month late, up to 12 months, plus interest. On a balance of $2,500 filed four full months late, that is a $225 penalty before interest.
If your income is low and your return is simple, you may not need software at all: starting March 2027, 1 million eligible people will be invited to file a free pre-filled 2026 return in their CRA account.
Wealthsimple Tax vs TurboTax, H&R Block and GenuTax
| Feature | Wealthsimple Tax | H&R Block online | GenuTax |
|---|---|---|---|
| Donations and medical expenses | Included on Basic (pay what you want) (better on this row) | Deluxe, $29.99 a return | Included (free) (better on this row) |
| Capital gains | Included on Basic (better on this row) | Premier, $49.99 | Included (free) (better on this row) |
| Self-employment and rental income | Included on Basic (better on this row) | Self Employed, $69.99 a return | Included (free) (better on this row) |
| Where it runs | Web browser | Web browser | a Windows download (Windows 7, 8.1, 10 or 11) — no Mac, web or phone version |
| Quebec provincial return | Yes (Basic and Plus) (better on this row) | Yes | the federal return only — it doesn't prepare the Quebec provincial return (TP-1) |
| Tax years | CRA and Revenu Québec NETFILE-certified (tax years 2023–2025) | Check H&R Block for prior years | 2003 through 2025 (NETFILE for 2018 to 2025; older years are printed and mailed) (better on this row) |
Sources: wealthsimple.com/en-ca/tax, hrblock.ca online tax software pricing, genutax.ca, and the CRA's certified-software details pages, checked September 23, 2026.
H&R Block sells a separate Self Employed package at $69.99 a return, and its advantage is in-person offices and paid expert help if you get stuck. GenuTax is free for more returns, and it prepares 2003 through 2025 (NETFILE for 2018 to 2025; older years are printed and mailed), but it is a Windows download (Windows 7, 8.1, 10 or 11) — no Mac, web or phone version and can prepare the federal return only — it doesn't prepare the Quebec provincial return (TP-1). TurboTax is listed by the CRA as paid, with free offerings based on tax situation (online, computer download and mobile app). Its Do It Yourself prices are Free $0 (simple returns only), Deluxe $30, Premier $50 and Self-Employed $70 per return, per TurboTax’s pricing page (September 2026), and its Free tier leaves out donations, medical expenses, employment expenses, investment income, rental income and self-employment income. It suits filers who want to pay for expert help while they file. The Wealthsimple Tax vs TurboTax comparison goes tier by tier, and the guide to free tax software in Canada covers StudioTax, CRA SimpleFile and free tax clinics.
Who should (and shouldn’t) use Wealthsimple Tax?
Use Wealthsimple Tax for one or two returns filed online with every form free; pick something else for older years, big households filing free, offline filing or specialist forms.
Wealthsimple Tax is a good fit if:
- You file for yourself or a couple and want investment, rental, self-employment, donation and medical claims without a paywall.
- You live in Quebec and want one program for both your federal and provincial returns (Basic or Plus).
- You own foreign property and need to e-file Form T1135.
- You’re a Wealthsimple Premium or Generation client, since Plus or Pro is free for you. Whether Premium itself is worth reaching is covered in is Wealthsimple Premium worth it.
Choose something else if:
- You file three or more returns and want to pay nothing: GenuTax on Windows.
- You need a return for 2022 or earlier: GenuTax or other software certified for that year.
- You’d rather keep your return off the internet until you file: a desktop program such as GenuTax or StudioTax.
- You’re emigrating, filing for someone who died, or need Form T2203 or another form on the CRA’s list above: a tax professional or software that e-files it.
- Your income is low and your situation simple: SimpleFile, which is a free CRA filing service for eligible people with a lower income and a simple tax situation — online (SimpleFile Digital), or by phone or paper with an invitation, or a free tax clinic.
The verdict
Wealthsimple Tax is the default pick for most one- and two-return households. Basic is pay what you want, every supported form is included, and it carries the same maximum refund guarantee as the paid plans. Plus is worth paying for if you file for a larger family or want audit protection, and it’s free once you reach Premium. Pro is for people who want an expert to review the return, and it isn’t available in Quebec. The weak spots are real but narrow: a two-return cap on Basic, email-only technical support, no desktop version, and no e-filing for years before 2023 or for a handful of specialist forms.
This review is general education, not tax or financial advice; if your return is unusual, a qualified tax professional can look at the whole picture. For everything else Wealthsimple offers, from TFSAs to chequing, see our complete Wealthsimple guide.
Read next
- Free tax software in Canada: what’s really free
- Wealthsimple Tax vs TurboTax: which costs less for your return
- Wealthsimple Trade review: fees, accounts and who it suits
- RRSP deadline: dates and how the deduction works
- Canadian tax optimization guide for 2026
- Wealthsimple Canada: complete independent guide