How to make filing your taxes (slightly) less odious

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With seven free software products certified for filing with the Canada Revenue Agency, it’s time to embrace the DIY movement. (Getty Images/iStockphoto)

Filing your income taxes has to be one of the most dreaded rituals of the year. Gather your tax slips and receipts, complete the tax form and hope you’ve reported everything properly and not overlooked tax credits or deductions you’re entitled to. Americans lack the super-simple tax-filing system they have in countries like Japan and the Netherlands, but there’s hope for we Canadians.

The Canada Revenue Agency has introduced a new service called Auto-fill my return and it can greatly expedite the process of completing a tax return. If you use tax software to complete your return and send it to CRA via Netfile, Auto-fill automatically fills in a lot of the boxes for you using information that employers and financial firms have supplied to CRA via T4s, T5s and more. Yes, CRA gets a copy of the same tax slips as you.

CRA says Auto-fill was used for more than 981,000 returns sent via Netfile as of April 10, well more than double the 425,000 at the same time last year. Click here for a list of free tax software products that are good to go with Auto-fill.

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Ask Rob The question: “Do brokers in Canada have a fiduciary duty to manage their clients’ RRSPs in the best interests of those clients?”

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