Wealthsimple Tax Review 2026: Free Filing, How Good Is It?
TL;DR
For 90% of Canadians — single T4 income, RRSP/TFSA contributions, basic deductions, even capital gains and rental income — Wealthsimple Tax is genuinely free, fast, and fully CRA-NETFILE certified. The only people who should pay are complex self-employed filers who want expert review.
What Wealthsimple Tax actually is
Wealthsimple Tax (formerly SimpleTax) is Canada's most-used free tax software, used by 1M+ filers each year. It's NETFILE-certified by the CRA every season. The pricing is "pay what you want," meaning $0 is a valid choice — no asterisk.
What's supported (basically everything personal)
- All T-slips: T4, T4A, T4E, T4(OAS), T4A(P), T4RIF, T4RSP, T5, T3, T5008
- RRSP, TFSA, FHSA, HBP, LLP contributions and withdrawals
- Capital gains/losses (Schedule 3) including crypto and foreign property
- Self-employment (T2125)
- Rental income (T776)
- Tuition, donations, medical, child care
- Foreign income, T1135 (specified foreign property)
- Quebec returns (TP1) — separate but built in
The slip auto-import is the killer feature. Connect your CRA My Account → Wealthsimple pulls your T-slips directly. Add a couple manual entries, click NETFILE, done in 15 minutes. If you're not yet set up, see our CRA My Account setup guide.
What's NOT supported
- Corporate (T2) returns — personal only
- Trust returns (T3)
- Non-resident returns (departed Canada or arrived mid-year as factual non-resident)
- Bankruptcy returns
Optional paid features
For 2026 Wealthsimple Tax offers two paid add-ons, both optional:
- Audit Protection ($40): CPA support if CRA reviews your return
- Expert Review ($90+): CPA reviews your return before you file
Skip both unless you have a complex self-employed or capital-gains-heavy year.
Speed test: how long to file?
For a typical T4 + RRSP + TFSA + a couple of T5s, with auto-import: 10–20 minutes. The interface is form-based with smart prompts, not a slow interview wizard. NETFILE submission and CRA confirmation happen in under 60 seconds.
Estimate your refund first with our income tax calculator so you know roughly what to expect. Track it after filing with the tax refund tracker.
Wealthsimple Tax vs TurboTax vs UFile
| Feature | Wealthsimple Tax | TurboTax | UFile |
|---|---|---|---|
| Free tier | All returns | Simple only | Limited (low income) |
| Self-employed | Free | $60+ | $30 |
| Auto-import T-slips | Yes (CRA) | Yes (CRA) | Yes (CRA) |
| Quebec (TP1) | Yes | Yes | Yes |
| Expert review option | $90+ | $50–200 | No |
Full deep-dive in our Wealthsimple Tax vs TurboTax vs UFile comparison.
The complaints (real ones)
- No live chat. Email-only support, 1–3 business day reply.
- No prior-year free re-file. You can amend prior years but the UI is clunky.
- Form-based, not interview-based. If you've never seen a tax return, the interface assumes a baseline.
Verdict
Best free tax software in Canada in 2026. If your situation is "T4 employee with some investments and RRSP/TFSA contributions" — there is no reason to pay TurboTax $30–$80 for the same outcome. For freelancers and landlords, Wealthsimple Tax handles T2125 and T776 as well as anyone, also for free.
Related guides
Sources: Wealthsimple Tax product page, CRA NETFILE-certified software list 2026. We do not accept referrals from any tax software vendor. Last reviewed: April 22, 2026.
Editorial disclaimer
This article is published by LoonieLabs for general information only. It is not financial, tax, legal, accounting, or immigration advice and must not be relied on as such. Rules, dollar figures, interest rates, and program eligibility change — always verify with the Canada Revenue Agency, IRCC, or a qualified professional before acting. Spotted an error? See our corrections policy. Last reviewed: April 22, 2026.
Frequently Asked Questions
Written and reviewed by Shrey Patel — Founder & Editor-in-Chief
Winnipeg, MB · Figures cross-checked against official tax & benefits sources · Last reviewed April 22, 2026 · LinkedIn
Founder of LoonieLabs · based in Winnipeg, MB · writes and reviews every page on the site I oversee every figure on this page personally — verified against primary sources (CRA, IRCC, Statistics Canada, the Bank of Canada, or the originating provincial ministry). LoonieLabs has no affiliate relationships with any bank, credit card, or immigration consultant featured on this site. Spotted a mistake? Tell us.
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