How to Do Taxes Online in Canada

Netfile

Most Canadians are all too familiar with the term "Netfile." A software that allows Canadians to file their taxes online, Netfile is a fast, easy and secure way to file the necessary tax forms and complete the required information. Many tax preparation services offer Netfile as a Web application through their individual sites.

Instructions

1. Use H&R Block Canada. To use the Netfile service online, you must have the appropriate T3, T4 and T5 or other income and deduction slips available.

2. Answer a few online questions, and based on this information, Netfile will direct you to the appropriate forms. The program will guide you sequentially through the return process and then check for errors at the end.

3. Detail all deductions and other tax credits so the Netfile program can correctly calculate the amount you owe or are owed by the Canada Revenue Agency.

4. Print the Canada Revenue Agency (CRA) and Revenue Quebec (MRQ) forms. Sign and mail.

5. Use the Ministry of Revenue website. According to the official Ministry of Revenue site, you can file your taxes online for free using the ONT-TAXS online. The system is also available through several Canadian banks including: ATB Financial, Bank of America, Bank of Montreal, CIBC, CIBC---Small Business, CIBC---Commercial/Corporate, Citibank, Desjardins, HSBC Bank Canada, Laurentian Bank, National Bank of Canada, RBC Royal Bank and Scotiabank.

Tips & Warnings

• Always file in advance of the due date.

• Work with a tax attorney if you have large deductions and/or tax credits.

Resources

• H&R Block
• Ministry of Revenue
• Netfile