Netfiling your taxes? A guide to the latest CRA-approved software
24.05.12
For the do-it-yourself types, this means using the CRA's Netfile system, a web-based service that allows taxpayers to be their own accountants and file their returns over the internet. (EFile is the internet-based filing system used by professionals who prepare tax returns for a living).
The CRA received about 5 million tax returns through the Netfile system in 2011, an increase of six per cent from the previous year and far more than the 530 who filed this way when the program debuted in 1999.
"Using tax software is a fantastic way for people to avoid the tax math," says tax educator and author Evelyn Jacks, president of Winnipeg-based Knowledge Bureau. "It offers a great way to do some 'what if' scenarios, too."
How to Netfile
You'll need an access code to Netfile your taxes. You can find that on the label sheet of your T1 personal income tax return package, or you can go online and enter some key data. (You'll need last year's tax return handy.)
Unfortunately, if you've never filed a tax return before, you won't be able to Netfile.
Source: CBC.ca