Intuit has just launched a Canadian version of its SnapTax app to help ease the pain of tax time in this country. If your tax return is fairly simple and based only on filing your T4 or T4s, this app makes filing your return a snap. While the app is free, it costs $9.99 to file to the Canada Revenue Agency’s Netfile, which you pay through your iTunes account – it’s probably worth the time it saves. I snapped a photo of a T4 and within moments, the screen came up with a list of all the items on it, with an option to fill in any missing boxes.
The app also gives you the option of typing in the information from your T4, but since it’s all about speed and ease of use I wouldn’t bother with the typing. Once the first T4 was in, there is the option to add more or go on to questions. You can create an account and sign-in or try it out without signing in.
However if you want to Netfile your return, you have to have a TurboTax account and the app needs your Canada Revenue Agency (CRA) profile details. That can all be done from within the app.
This tax app starts by asking a few questions to see if it will work for you. It also works for returns that are fairly straight-forward – for instance not for the self-employed – let-ting you photograph your tax documents and type in any additional information that is needed. Once you submit all the documents, tax preparers complete your return, send back a summary and file it with the CRA. It isn’t as simple as SnapTax and, at a mini-mum filing cost of $24.95, it is more expensive.
But it takes additional tax documents, such as T4As, slips for tuition expenses, child care benefits and information such as gratuities, RRSP contributions and charitable donations.
It also lets you claim for dependents and make other adjustments to your return. Basically it walks through all the questions on a regular tax return.