Ufile is a Canadian online tax preparation and filing service. It allows individuals and small businesses to prepare and file their taxes electronically. The service offers a variety of features, including the ability to import data from other tax software, support for multiple tax forms and schedules, and the ability to file taxes for multiple years. It also offers a mobile app that allows users to access their tax information and file their taxes on the go.
Even in the best of circumstances, filing taxes can be difficult, for instance, in a situation where you were fired without warning or switched to working from home. Or perhaps you simply don’t understand what’s going on with all of these relief initiatives and changes to the law. These can be a lot to take in all at once. However, by using the correct tax software, paying your taxes doesn’t have to be terrifying.
Compared to other tax return software solutions like TurboTax, Wealthsimple Tax, or even H&R Block’s DIY offering, UFile is likely less well-known in the field of online tax filing. But like those other trusted names, UFile enables you to do your tax return fast and correctly while lounging in your living space. To help you compare UFile with other tax return software now available, including the one you’re using, we’ll look at what it has to offer in more detail in this article.
UFile is a popular online tax filing platform that is available to Canadian taxpayers. It is known for its user-friendly interface, thorough guidance, and accurate calculations. One of the key benefits of using UFile is that it is designed to be accessible to people with a range of tax situations, including those who are self-employed or have rental income. It also offers support for various tax credits and deductions, including the Canada Child Benefit and the Disability Tax Credit.
In addition to its comprehensive tax preparation features, UFile also offers helpful tools such as a tax calculator and a tax planner, which can help users understand the potential impact of different tax strategies and plan for the future. Overall, UFile is a reliable and convenient choice for Canadian taxpayers looking to file their taxes online. It offers a range of features and support to help users navigate the tax preparation process with confidence.
Ufile also offers a mobile app that allows users to access their tax information and file their taxes on the go. This makes it easy for users to complete their taxes while on the move, and it’s a great way to file taxes at the last minute. In addition to these features, Ufile also offers customer support, including a help center with articles and FAQs, as well as the ability to contact customer support via email or phone.
Overall, Ufile is a great option for anyone looking to file their taxes electronically, whether you are an individual or a small business owner. It offers a variety of features to make the process easy and convenient, and it is available in both English and French.
UFile: How to Get Started
You can choose to download UFile onto your desktop computer from the internet or a CD-ROM to get started with it. You can also access the software directly online. A smartphone or tablet can be used to directly access the web version, I should note.
Regardless of the version, you select, UFile will guide you through filing your return and offer tools and tips to help you save the most money on taxes and earn the largest refund. You can securely send your information to CRA via NETFILE when you’re ready to file. Everything is pretty smooth.
UFile: How Do I Use It?
A secure downloadable software program that is not connected to the Internet is called UFile. Some functionality is lost if you use the downloadable version, although some users prefer it since they like to keep their work on their own devices.
You must visit the UFile login page and select “Create New Account” to begin utilizing the UFile online software. Your username, a strong password, and your email address will then need to be entered. You will be guided by the application on how to utilize UFile to automatically fill in your information.
You can stop working on something and pick it up later; just use the UFile sign-in link to resume where you left off.
Here are the instructions for using the downloaded UFile software.
Ufile can be installed on a computer by downloading the software from the Ufile website and following these steps:
Go to the Ufile website and select the version of Ufile that you want to download.
Click the “Download Now” button and wait for the download to complete.
Once the download is complete, navigate to the location where the file was downloaded and double-click the installer to begin the installation process.
Follow the on-screen instructions to install Ufile on your computer. This will include accepting the license agreement and choosing the location where you want the software to be installed.
Once the installation is complete, Ufile will launch automatically, and you will be prompted to enter your license key to activate the software.
After activating the software, you can start using Ufile to prepare and file your taxes.
It’s worth noting that Ufile is only compatible with Windows and MacOS operating systems.
Registration and Activation Of UFile
In order to use Ufile, you will need to register for an account and activate the software. Here are the steps for registering and activating Ufile:
Go to the Ufile website and click the “Register” button.
Fill in the registration form with your personal information, including your name, email address, and a password.
Click the “Submit” button to complete the registration process.
Once your registration is complete, you will receive an email with a link to activate your account.
Click the link in the email to activate your account, and then log in to the Ufile website using your email address and password.
Download the Ufile software and install it on your computer following the steps I previously provided.
After installing the software, launch Ufile and enter your license key when prompted.
Your license key can be found in the email you received after purchasing the software.
Once you have entered your license key, Ufile will be activated and ready to use.
Note that if you are using Ufile free version, you may not need to provide a license key and you can start using the software right away.
UFile for Windows Tax Return Preparation
As a seasoned tax filer, you are aware that the ideal place to begin is with all of your supporting evidence. As you concentrate on doing your taxes, you don’t want to be rushing around gathering T4s and receipts.
Once the program has been installed, you will see a UFile icon for the current year on your desktop. You have the choice to import the personal information and tax carryforward amounts from the prior year when you arrive at the Start page. You simply need to choose the appropriate tax file by clicking on Carry forward a tax file. If this happens to be your first time using UFile, select Start a new tax file.
You must now finish an interview. You must enter the tax details for each member of your family here. During this step, you can add a spouse or new dependents.
It’s crucial to include every member of the family because the program can still determine pertinent deductions or alert you to transferrable amounts even if they aren’t using UFile to file their taxes.
Review the tax results when you’ve finished this. The UFile application will alert you to any mistakes you’ve made or information you’ve forgotten. Any line number can be clicked to see details about the source of the supplied amount.
While you’re working, pay attention to the display on the bottom panel. It will detect any errors or missing data and offer suggestions on how to fix them.
Free Version of UFile
For clients submitting relatively straightforward taxes, the majority of online tax return providers now provide free versions of their software. While they do have some particular requirements, UFile is not any different.
For instance, if you happen to have multiple job income streams, you’ll need to fall under one of the following categories in order to use the free version: students, newcomers to Canada (filing their first federal tax return), or families making under $20,000 per year. If you are eligible, UFile Free ought to work.
Higher Education Students
Together with the Canadian Federation of Students, UFile is offering this fantastic service at no cost. You qualify if you spent at least one month of the tax year you’re filing in a postsecondary institution.
Tuition must have been paid for that year, and you must be ready to write them off as a legitimate school expense. A “Special offer” will be visible on the left-hand navigation as you start your return. There will be a special coupon code for the Canadian Federation of Students, CFS1981. You will be able to finish and file your taxes right away without paying anything!
Paid UFile Versions
UFile offers several paid versions of their tax preparation software for individuals and small businesses. These versions include additional features and support compared to the free version. The paid versions are: Ufile ONLINE: This version is for individuals and families who want to prepare and file their taxes online. This version includes all the features of the free version and also allows you to import data from other tax software, support for multiple tax forms and schedules, and the ability to file taxes for multiple years.
Ufile PLUS: This version is for individuals who want additional support and guidance while preparing their taxes. It includes all the features of Ufile ONLINE, plus additional support for self-employed individuals, rental properties, and investment income.
Ufile SELF-EMPLOYED: This version is designed specifically for self-employed individuals and small business owners. It includes all the features of Ufile PLUS and also provides additional support for business expenses, inventory, and capital cost allowance.
Ufile T2: This version is for small businesses and corporations that need to file a T2 Corporation Income Tax Return. It includes all the features of Ufile SELF-EMPLOYED and also provides additional support for corporate tax forms and schedules. All paid versions of Ufile include unlimited phone and email support, and a satisfaction guarantee, which allows users to get a refund if they are not satisfied with the software.
1. Online UFile
As promised, UFile Online is a cloud-based program that you may access online. It’s reasonably priced at $19.99. The fact that UFile Online offers users free 10-year online tax return storage is a wonderful feature. I adore this option because it eliminates my concern about taking up PC hard disk space. I can use UFile at any moment and, free of charge, to recall them. They also offer free telephone help, which is useful.
2. UFile Download
If working on your returns offline appeals to you, you can acquire their software from the UFile website directly to your computer’s hard drive or go the traditional route and buy a CD-ROM in person. You must continue using UFile Online if you use a Mac because UFile Download is only compatible with Windows PCs. Additionally, effective January 14, 2020, UFile no longer supports Windows 7. Hence it is strongly advised that users of Download switch to Windows 10.
Tax returns are instantly saved on your hard drive when you use UFile Download in case you need to view them later. There is no charge for email help, and telephone service is optional. The cost of UFile Download is $22.99, which is really affordable.
Features of UFile
One of the key features of Ufile is the ability to import data from other tax software, such as TurboTax or H&R Block. This makes it easy to transfer information from previous years’ tax returns, saving users time and reducing the risk of errors. Ufile also supports a wide range of tax forms and schedules, including the T1 General Income Tax and Benefit Return, the T2 Corporation Income Tax Return, and the T4 Summary of Remuneration Paid. This means that users can file their taxes for multiple years and for different types of income.
UFile offers a range of features and tools to make tax preparation easy, including:
Step-by-step guidance through the tax preparation process
Support for multiple tax forms and schedules
Import of tax slips and other tax information
Automatic calculation of tax credits and deductions
Error checking to help you avoid mistakes
Ability to file your tax return electronically through the CRA’s NETFILE service
Benefits of UFile
The following are benefits of using the Ufile online tax Software include the following:
- The Tax Return You File Is Easy
You are disclosing earnings from a single T4 or T4A slip (OAS). Keep in mind that, you should only have non-refundable tax credits with no other deductions or credits; your tax credits should also be straightforward. Also, you are not eligible, for instance, if you have RRSPs or charitable contributions.
- Lots of benefits if this Is Your First Filing
Next up, you can avoid paying if you check the option asking if this is your first time filing in Canada. You can use UFileFREE, which slowly exposes you to the pleasures of the yearly routine of filing your Canadian taxes for free.
- Are A Taxpayer With Low Income
Moreover, you can also file your taxes online with UFileFREE if your family’s combined income is under $20,000. Finally, you sum up each family member’s individual income reported on line 150 of your federal tax return to determine your total family income.
What Are the Costs of UFile If You Don’t Fit Any of the Above Categories?
The average person who doesn’t fit into one of the aforementioned groups pays $19.95 to use UFile online to file their taxes. You must pay the download fee of $22.99 upfront if you decide to utilize the Windows version.
You get the added benefit of priority email, phone, and chat support if you choose the online edition of UFile Premium. For that extra $10 price, they offer dangle the lure of several freebies and special advantages.
The same amount will be paid by a large investor or a person with rental income as a small business. Costing the service is difficult for larger firms because the total cost of software can include subscription fees, maintenance costs, training costs, customization costs, and other related services.
Utilizing premium services and support can be pricey, but this is true for the majority of tax return software, and businesses do plan and anticipate these costs.
The Advantages of using UFile
What features of this tax software are appealing? They include:
Free in Some Cases
Despite having a base price of $19.95, UFile is accessible to a wide range of users entirely free of charge. The largest group is made up of taxpayers with simple tax returns, which only require the filing of a single T4 and do not require the use of any special deductions (like medical expenses or charity donations). Students, first-time tax filers, and persons with low incomes ($20,000 or less) can also utilize the program without charge.
Triple assurance of accuracy
The triple guarantee offered by UFile promises that your tax return will be accurate, that you’ll be happy with the results, and that they’ve provided you with the greatest outcome in comparison to competing for tax software. You might be qualified for a refund or compensation in each scenario.
Express notification of evaluation
Although this is now largely standard across tax software, having an express NOA to receive your tax assessment as quickly as feasible is still nice.
Offered in Quebec
This is a huge benefit because there are still certain tax preparation programs available that are incompatible with Quebec residents.
UFile or TurboTax can be used to import prior-year data.
Although importing data from UFile and TurboTax is fascinating, it would be perfect if you could import data from any preceding year. It’s simple to transition from TurboTax because this is a little more open than other tax software.
Option to offline store information
You effectively have an option as to where your information is stored, which is one of UFile’s most distinctive characteristics. For a few bucks more, you can use UFile Windows to save everything locally on your computer if security and privacy are your main priorities. Believe in the cloud? Then, for a little less money, UFile Online contains all you require.
Disadvantages of using UFile
But what are some things that you might want to watch out for?
- Not free for all people
UFile is free in many situations, but it’s simple to get kicked out of the “basic tax return” category and have to pay the $19.95 fee. Even if you made a charitable donation that you’d like to deduct or had certain medical costs, UFile free deems your return to be too complex.
- UFile Online utilizes cloud storage.
Because of the possibility of security breaches, are you uncomfortable with having your tax information kept in the cloud? Avoid UFile Online at all costs.
- Lack of Chat Assistance
Even though UFile provides free email and phone help, there are occasions when starting an online chat and receiving the assistance you require right away is the simplest option. UFile regrettably does not provide such a support option.
- Unavailability of Mobile Apps
There isn’t a mobile app you can download to make the process more convenient if you don’t have access to a computer or simply prefer to complete your taxes while on the road.
TurboTax vs UFile
You might be curious to know how UFile stacks up against TurboTax, Canada’s most widely used tax preparation program. UFile is more than a sufficient substitute for TurboTax when it comes to giving you the resources you need to finish your return with reasonable ease.
In fact, UFile Online or Download is less expensive ($19.99 and $22.99 for every return, respectively) than TurboTax’s top-tier Self-Employed edition ($44.99 per return).
Regarding Canadian tax return software, UFile is a reliable option. It is designed to manage practically anything you can throw at it, including more complicated returns, including self-employment or investment income. Most Canadians who are completing straightforward reports can use their free software, but the multiple employment income exclusion is a bit of a letdown.
The fact that UFile keeps your taxes on file for ten years, which is sufficient time to provide you with genuine piece of mind, is something I really appreciate. They compete with businesses that only allow seven years of data storage. However, Wealthsimple Tax continues to be my favorite pick for free software since it is unquestionably functional.
Furthermore, Ufile is available in both online and offline versions, and it can be used on a computer or mobile device. French and English versions are also offered. Thanks for reading, please let me know your thoughts and comments below.
Sagar Sridhar is an accomplished personal finance blogger hailing from Canada. With a unique blend of quirkiness and enthusiasm, he has established himself as a prominent figure in the personal finance industry. Sagar’s passion for finance, coupled with his engaging writing style, sets him apart from his peers. While he has a background in computer engineering and a Master’s in Project Management, Sagar’s true passion lies in helping others manage their money. His writing has been featured in several top Canadian finance publications, solidifying his status as a sought-after voice in the field. Despite juggling his work and blogging schedule, Sagar remains resolute in his mission to make a lasting impact on the personal finance world.