Wealthsimple Tax: Review, Pricing, and How It Works

Q: How to file your taxes with Wealthsimple?

Log in, import your slips, verify credits, and submit your return online.

Wealthsimple Tax is online tax software designed for Canadian taxpayers who want to file their tax returns simply. It is NETFILE-certified by the Canada Revenue Agency and Revenu Quebec. You can use it to submit your current year’s tax return directly online.

In this comprehensive review of Wealthsimple Tax, we analyze its pricing, plans, functionality, advantages, and disadvantages. We also compare it to TurboTax and other tax software in Canada.

What is Wealthsimple Tax?

Wealthsimple Tax is the tax software developed by Wealthsimple, a Canadian company specializing in online investing.

The platform also offers Wealthsimple Trade accounts (formerly Self-directed Investments), managed portfolios, registered accounts such as RRSPs and TFSAs, as well as savings accounts.

Wealthsimple Tax therefore allows users to file their tax returns in the same place as their investments. The software is approved by the Canada Revenue Agency (CRA) and Revenu Quebec as a NETFILE-certified solution.

Thus, you can submit your return electronically, without printing or mailing documents.

How much does Wealthsimple Tax cost?

Wealthsimple Tax offers three plans tailored to different tax profiles.

First, the Basic plan allows you to prepare a simple return and submit it via NETFILE. You choose the amount you wish to pay, including $0.

Next, the Plus plan, costing $40 plus taxes, includes:

Up to eight returns
All the benefits of the Basic plan
Priority email support
Audit protection

It is free for Advantage clients.

Finally, the Pro plan, costing $80 plus taxes, includes:

Nine or more returns
All the benefits of the Plus plan
Tax expert advice

It is free for Generation clients. However, this plan is not offered to Quebec residents and is not available in French.

So, if you’re wondering if Wealthsimple Tax is free, the answer depends on the chosen plan and your premium status.

How to file your return with Wealthsimple Tax?

If you are already a Wealthsimple client, you simply use your existing account. Otherwise, you must create an online account.

Then, the software asks you questions tailored to your situation. It can automatically import your tax slips via the CRA, which simplifies filing your return for the tax year.

Next, Wealthsimple automatically optimizes your tax return. Eligible credits and deductions are applied.

Finally, you submit your return to the CRA and Revenu Quebec via NETFILE in a few clicks.

If you are looking for how to file your taxes online in Canada, the process is simple and guided.

Wealthsimple Tax vs. TurboTax

TurboTax operates with a fixed pricing structure based on the complexity of the return.

Conversely, Wealthsimple Tax offers greater pricing flexibility for simple returns.

However, TurboTax offers more integrated support and more developed phone support.

Comparison with other tax software

Other solutions exist, such as UFile or H&R Block.

These platforms sometimes offer human assistance or specialized plans for self-employed individuals.

Thus, the choice mainly depends on the complexity of your tax situation.

For a complete comparison of tax software in Canada, consult our detailed guide on the best tax software.

Advantages and Disadvantages

The Benefits

First, the interface is intuitive and suitable for simple to intermediate returns.

Next, automatic import of tax slips simplifies tax filing.

Moreover, simultaneous submission to the CRA and Revenu Quebec is fast.

Finally, integration with Wealthsimple investment accounts simplifies tax management for investors.

The disadvantages

However, customer support remains primarily digital.

Furthermore, the Pro plan is not offered to Quebec residents.

Lastly, very complex or incorporated tax situations may require more specialized assistance.

Who is Wealthsimple Tax ideal for?

Wealthsimple Tax is particularly suitable for employees, students, and retirees with a simple situation. It is also beneficial for investors already using Wealthsimple.

If you invest with this platform, consult our complete Wealthsimple analysis.

Conversely, self-employed individuals with complex structures might prefer more specialized software.

How to pay less tax with Wealthsimple Tax?

Tax software applies available credits, but tax planning remains essential.

For example, RRSP contributions reduce taxable income. Charitable donations and certain medical expenses qualify for credits.

Wealthsimple Tax automatically optimizes your return based on the entered data.

However, to further reduce your tax bill, consult our complete guide on strategies for paying less tax in Canada.

Conclusion

In summary, Wealthsimple Tax is reliable tax software, NETFILE-certified by the CRA and Revenu Quebec.

Its flexible model, tailored plans, and intuitive interface make it a relevant solution for many Canadian taxpayers.

However, for complex tax situations, always compare with TurboTax and other tax software before choosing.

Wealthsimple Tax – FAQ

How much does it cost to file taxes with Wealthsimple?

The Basic plan can be free. The Plus and Pro plans cost $40 and $80 respectively, plus taxes.

Is Wealthsimple a legitimate site for filing taxes?

Yes. The software is NETFILE-certified by the CRA and Revenu Quebec.

What are the disadvantages of Wealthsimple?

Support is primarily digital, and the Pro plan is not available in Quebec.

How to file your taxes with Wealthsimple?

Can I get my tax documents via Wealthsimple?

Yes. You can import slips via the CRA or download your tax documents from your account.

Is Wealthsimple Tax free?

The Basic plan allows you to prepare and submit a simple return for free. The Plus and Pro plans are paid and offer additional services.

Is Wealthsimple Tax a good choice for filing taxes?

Yes, for simple to intermediate returns, the interface is intuitive and the software is NETFILE-certified. For complex situations, compare with other tax software.

Our featured card

FeaturedCompare

Marriott Bonvoy^® American Express^®* Card

American Express Marriott Bonvoy

Annual fee: $120
Our valuation: $990Milesopedia first-year estimate First-year valueWelcome bonus$990Total$990Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.; Milesopedia first-year estimateFirst-year valueWelcome bonus$990Total$990Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer: Up to 110,000 points; Ends Sep 22, 2026

Apply Now

on American Express's website

Apply with confidence — no impact on your credit scoreApply with confidenceCheck whether your application will be approved before you submit it, with no impact on your credit score*When you apply for a personal American Express Credit Card, we will tell you whether you are eligible without affecting your credit score. So you can apply with confidence.*Instant decisions are only available for consumer Card applications (also called “personal Cards”).

The Marriott Bonvoy^® American Express^®* Card is the best credit card in Canada for free hotel nights.

New Cardmembers can earn up to 110,000 Marriott Bonvoy^® points with the current offer:

Earn 80,000 points after you spend $6,000 on your Card in your first 6 months of Cardmembership.
Plus, earn 30,000 points by making a purchase during your 15th month of Cardmembership.

This offer ends on September 22, 2026. The annual fee is $120, and there is no annual fee on Additional Cards, so you can add a partner or a family member at no extra cost.

Every year after your first Card anniversary, you receive an Annual Free Night Award good for a redemption of up to 35,000 points at eligible hotels and resorts worldwide. At a valuation of 0.9 cents per Marriott Bonvoy point, that certificate is worth roughly $315, which on its own more than covers the $120 annual fee. That is the main reason to keep this Card year after year instead of cancelling it.

To get the most out of the certificate, aim it at a night that would otherwise price close to the 35,000 point ceiling.

The Card also gives you 15 Elite Night Credits each calendar year and automatic Marriott Bonvoy Silver Elite status. Those credits count toward the next Elite tier, so you begin every year 15 nights ahead of where you would otherwise start.

You move up to Gold Elite status automatically when you reach $30,000 in purchases on the Card in a year, or when you combine 10 qualifying paid nights within one calendar year with the 15 Elite Night Credits from your Card.

Marriott Bonvoy points are generally valued at 0.9 cents each. On that basis, the 110,000 point welcome offer is worth about $990, and an Annual Free Night Award used at its full 35,000 point ceiling is worth about $315.

Marriott Bonvoy points pull their weight on free nights rather than on gift cards or merchandise, which is why this Card should be judged on the hotel stays it produces.

You earn 5 points per dollar on eligible purchases at participating Marriott Bonvoy hotels and 2 points per dollar on all other purchases. Points can be redeemed for free nights with no blackout dates at more than 7,000 hotels around the world.

The Card carries a solid package of coverages: $500,000 travel accident insurance, flight delay, baggage delay, lost or stolen baggage and hotel or motel burglary at $500 each, car rental theft and damage up to $85,000 for rentals of up to 48 days, Purchase Protection for 90 days and a one year Extended Warranty.

Two things to plan around: the 2.5% foreign transaction fee on purchases made in a foreign currency, and the 21.99% purchase interest rate, which makes this a Card to pay in full every month. Like all American Express Canada Cards, no minimum income is published for this Card, and you can see whether you would be approved before you apply, with no impact on your credit score.

Legal

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, we may receive compensation from American Express, which can be in the form of monetary payment.

Annual fee

Primary card$120

Additional card$0

Annual income required

Individual$0

Household$0

Conversion fees

2.5%

Earning rate

5xMarriott Bonvoy hotels
2xAll spending

Value

1st Year Value$1,437

2nd Year Value$312

Travel insurance

Delayed BaggageUp to $500

Lost BaggageUp to $500

Flight DelayUp to $500

Hotel BurglaryUp to $500

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Auto Rental Collision (primary)Up to $85,000 / 48 days

Wealthsimple Tax: Review 2026