Pre-Certified Studio Tax 2015 | Income tax filing | Discussion forum

I have been using Studio Tax since 2010. Very good software, easy to use and you do not need extensive knowledge of the tax act. It is free, I believe, for up to 20 personal returns.

Ed said

Unfortunately, Studio Tax is not an online application. As for the price, H&R Block is also free. Don't understand why in 2016 taxpayers are still not allowed to tax-file online directly to the CRA.

Trudeau is supposed to be looking into CRA reform, is he not? CRA knows every thing when T slips are submitted....as long as they are done on time. It would just make more sense to submit the non T slip stuff and request income splitting etc and be over with it. Perhaps it could be graduated by starting with the simple tax reporting.

I can remember struggling with the manual forms trying to remember what I did last year and apply the changes. Just imagine how much Turbo Tax makes every year at 20 or 30 dollars per purchase. But worth it in my mind if it truly is efficient.

Rick... Studio Tax provides a free software package that needs to be downloaded onto a Windows or Mac computer hard disk where it is stored. I prefer to access the certified tax provider's internet site using a web browser (Google Chrome) on an Android tablet or smartphone, much the same way as we do our online banking. My beef however is why can't I access the CRA site directly to tax-file, instead of passing through a third party!?!?!?

Ed said

Rick... Studio Tax provides a free software package that needs to be downloaded onto a Windows or Mac computer hard disk where it is stored. I prefer to access the certified tax provider's internet site using a web browser (Google Chrome) on an Android tablet or smartphone, much the same way as we do our online banking. My beef however is why can't I access the CRA site directly to tax-file, instead of passing through a third party!?!?!?

I see...Thanx Ed. Think I'd prefer to download it and do my taxes on my computer rather than fill in all that personal information on a 3rd party website. I think I will give this one a try for my 15 taxes though.

This will be my third year using Studio Tax. Moved from Turbo Tax.
I like it quite a bit. Efiling is a breeze and it draws in previous years figures.
Best user interface of the freebie types as well.

I don't think Studiotax has it, I just wait the week or so for it to show in my online account after filing my taxes.

Yatti420 said

I never ever ever would trust a pre-calculated rate for future RRSP contributions.. If you have a situation where an institution misreports ( or you mess up) either TFSA or RRSP it can be a massive pain in the rear end to get this fixed.. Just wait and do it in a week or two.. Safest move for sure!

Have always used the info from U-File to make my RSP contributions. My TFSA / RSP contributions are maxed out so there is only 1 contribution per year. Not hard to keep track of. Only bad experience I had was when my employer messed up my T4 and issued a new one in June. Had to file an amendment recalculate my taxes with new numbers. Penalty was waived because it was not my fault. Would have made no difference if I waited and used CRA numbers instead as I didn't get the revised T4 until after filing deadline. Otherwise, numbers from U-File have always been bang on. CRA uses the numbers from your information to calculate the following years contribution, so I have confidence in the program being accurate. Once I make my contribution, I file the T1013(?) to have my tax deduction reduced by my employer. That usually takes 6-8 weeks to process, so waiting around for another couple weeks while CRA calculates my entitlement just prolongs the time it takes for me to start getting better paychecks and gives the feds a tax free loan.

Rick said

.... Once I make my contribution, I file the T1013(?) to have my tax deduction reduced by my employer. That usually takes 6-8 weeks to process, so waiting around for another couple weeks while CRA calculates my entitlement just prolongs the time it takes for me to start getting better paychecks and gives the feds a tax free loan.

That form is T1213 (Request to Reduce Tax Deductions at Source).

Useful for applying to reduce source withholdings further because of deductions (like RRSP contributions, child care expenses, and medical expenses) that aren't included in form TD1.

Ed said

Unfortunately, Studio Tax is not an online application. As for the price, H&R Block is also free. Don't understand why in 2016 taxpayers are still not allowed to tax-file online directly to the CRA.

Do you mean online on CRA site directly? That's really a good question. I don't understand that either. Plus CRA can generate some revenues from Income Tax filling, CRA gets the money rather than it goes to other companies. It's a WIN WIN game.