Wealthsimple Tax Review

1. Wealthsimple Tax Review: Our Verdict and Score

The short version. Wealthsimple Tax ranks first of the seven NETFILE-certified products we score, at 4.8 / 5. It earns full marks on price, features and Quebec filing, and 4.0 on support. The reason is simple: its Basic plan has no limits on income types or deductions, and you can pay $0 for it.

How we score tax software. Price and features carry 35% each, support 15% and Quebec filing 15%. Price earns 5 for a full-featured free tier, 3.5 where the free tier covers only simple returns and 3 where prices are not published. Features earn 5 for all income types including self-employment and investments. Support earns 5 for expert review or full service and 4 for an expert consultation on a paid tier. The full rubric is on our rating methodology page.

Where it loses points. Support is the one factor below full marks. Wealthsimple offers a 30-minute expert consultation on Pro, but its published plans do not include a service where an expert reviews or prepares your return. H&R Block and TurboTax both offer that, which is why they score 5 on support. If you want someone else to do the work, Wealthsimple Tax is not built for that.

Who it is not for. People with rental income should check support for form T776 before they rely on it, because Wealthsimple’s published plan details do not confirm it. Quebec residents who want expert help cannot buy Pro. Scores never depend on payment from a provider; see how WealthScale makes money.

2. Wealthsimple Tax Pricing: Basic, Plus and Pro

Three plans for the 2025 tax year. Wealthsimple Tax prices its plans for the return you file in 2026, covering the 2025 tax year. Prices for the 2026 tax year, filed in 2027, have not been published. Sales tax is added to the Plus and Pro prices at your province’s rate.

How the price relates to your Wealthsimple tier. Premium starts at $100,000 in assets with Wealthsimple and Generation at $500,000. If you reach Premium, you get Plus at no charge; at Generation, Pro is included. Assets in managed, self-directed, crypto, savings and chequing accounts all count, and household members at the same address can combine assets toward a tier.

What the paid plans cost over time. Plus at $40 a year costs $200 over five years before tax ($40 x 5). Pro at $80 costs $400 over five years ($80 x 5). Compared with paying for full-service preparation, both are small amounts, but compared with Basic at $0 they are worth paying only if you need what they add.

Pro’s return count. Wealthsimple’s plan chart and its FAQ give different numbers for how many returns Pro covers, so we do not state one. If you file more than 8 returns for a household, please confirm the Pro limit in the product before you pay.

No surprise upgrade charges. Basic covers every income type and deduction, so a more complex return does not force you onto a paid plan. That is the core difference from software where the free tier stops at simple T4 returns and the price rises with complexity. Our best tax software in Canada ranking compares how each product prices complex returns.

3. What Each Wealthsimple Tax Plan Covers

The same tax engine, different service. All three plans let you prepare and file a complete return. What changes is how many returns you can file, how fast support answers, and whether you get audit protection and an expert consultation.

Basic. Basic covers up to 2 returns with every income type and deduction, standard email support with replies in about 3 days, and auto-fill of your tax slips. For most single filers and many couples, Basic is the whole product.

Plus. Plus raises the limit to 8 returns, speeds email support to about 1 day, adds audit protection and lists spousal filing among its features. It suits a household filing several returns, such as parents and adult children, or anyone who wants faster answers in March and April.

Pro. Pro adds a 30-minute consultation with a tax expert and access to tax experts year-round, plus audit protection. The consultation was guaranteed only if booked before April 6, 2026, so book early in the season. Pro is not available in Quebec or in French.

Audit protection. Plus and Pro list audit protection, but the plan details we checked do not describe its scope. Before you rely on it, read the plan terms to see whether it means guidance on CRA letters, help preparing a response, or both. Either way, you remain responsible for the accuracy of your return.

4. Is Wealthsimple Tax Free? Pay What You Want Explained

The short answer. Basic can cost $0. Wealthsimple lets you choose what to pay for Basic, including nothing, and the plan has no limits on income types or deductions. It covers up to 2 returns. The costs that remain are your time, slower email support, and Plus or Pro if you need more returns, faster support, audit protection or an expert.

How pay what you want works. When you file on Basic, you pick an amount. You can choose $0 and still file a complete return. The lowest amount you can choose is $0.

Why the free tier matters. Many free tiers stop at simple returns, so a single T5 slip for bank interest, a donation receipt or a medical expense can push you to a paid tier. At Wealthsimple, Basic stays available whatever is on your return. That is why it earns a 5.0 price sub-score, while TurboTax and H&R Block earn 3.5.

A fair price to pay. If the software saves you money compared with what you paid last year, you may choose to pay something on Basic. There is no penalty for paying $0, and the features do not change with the amount you choose.

5. Wealthsimple Tax Plus: Who Needs It

What Plus adds for $40. Plus costs $40 plus tax for the 2025 tax year and covers up to 8 returns. It adds priority email support with replies in about 1 day, audit protection and spousal filing. Premium and Generation clients get it at no charge.

Households with more than 2 returns. Basic stops at 2 returns. A family filing for two parents and an adult child who lives at home needs 3 returns, which puts it on Plus. At $40 for up to 8 returns, that works out to about $13.33 a return for 3 returns ($40 ÷ 3) before tax, and $5 a return for 8 ($40 ÷ 8).

People who want faster answers. The difference between a 3-day and a 1-day reply matters most close to the filing deadline. If you tend to file late in the season, priority support can be the reason to pay.

When Plus is not worth it. If you file one or two returns and do not need faster support or audit protection, Plus adds nothing to the return itself. Basic uses the same tax calculations.

6. Wealthsimple Tax Pro and Expert Help

What Pro adds. Pro costs $80 plus tax for the 2025 tax year, or nothing for Generation clients. On top of the Plus features, it includes one 30-minute consultation with a tax expert and year-round access to tax experts, with audit protection. The consultation was guaranteed only if booked before April 6, 2026, which matters because demand peaks as the filing deadline nears.

What 30 minutes can cover. Half an hour is enough for a focused question: how to report a home office for employment, whether a capital loss can be carried back, how to split pension income with a spouse, or how to report a first year of self-employment. It is not enough for an expert to prepare or review a whole complex return. Write your questions down and have your slips open before the call.

Who should consider Pro. Pro suits people outside Quebec with one or two specific questions each year who are otherwise happy to prepare their own return. A new landlord, a first-year contractor or someone who sold a large investment may find a short consultation worth $80.

Choosing between accounts. A consultation is a good time to ask whether a TFSA or RRSP contribution suits your income better; our TFSA vs RRSP comparison lays out the trade-off first.

Who should look past Pro. If you want someone to prepare the return, look at full-service options, such as TurboTax Expert Full Service or H&R Block’s in-office service, or hire a professional accountant. Quebec residents cannot buy Pro at all, so their expert-help choices are other products or a professional.

7. NETFILE, Auto-Fill and Filing With Wealthsimple Tax

NETFILE certified. Wealthsimple Tax is certified by the Canada Revenue Agency and Revenu Quebec for the 2023, 2024 and 2025 tax years. Certification means the software can send your return directly to the CRA (and to Revenu Quebec for a Quebec return) instead of you mailing paper. All seven products in our ranking are certified for the 2025 tax year.

Auto-fill on every plan. Every Wealthsimple Tax plan can import the tax slips that the CRA and Revenu Quebec have on file for you. That saves typing and cuts the risk of missing a slip. Slips that arrive late, or that the issuer files late, may not appear, so compare the imported list with the paper and PDF slips you received before you submit.

Who makes it. Wealthsimple Tax is offered by SimpleTax Software Inc., one of the legal entities in the Wealthsimple group. It is separate from Wealthsimple Investments Inc., the dealer that holds investment accounts.

Why filing matters even with little income. The CRA works out several benefits from your return. The Canada Groceries and Essentials Benefit, which replaced the GST/HST credit from the July 3, 2026 payment, pays up to $679 a year to a single person for July 2026 to June 2027. Filing a return, even on Basic for $0, is how the CRA assesses you for those payments. Our GST/HST credit and payment dates guide and CRA benefit payment dates page list the dates.

Deductions to claim before you file. RRSP contributions made by the deadline for the tax year reduce your taxable income; for the 2025 tax year, that deadline was March 2, 2026. FHSA contributions must be made by December 31 of the year, with no 60-day period. Our RRSP tax refund calculator and FHSA calculator show what each contribution is worth.

8. Wealthsimple Tax in Quebec and in French

Basic and Plus work in Quebec. Quebec residents file two returns: a federal return with the CRA and a provincial return with Revenu Quebec. Wealthsimple Tax Basic and Plus handle both and are available in French. They are certified with Revenu Quebec for the 2023 to 2025 tax years and can import slips from Revenu Quebec through auto-fill.

Pro does not. Pro is not available in Quebec or in French, and its live consultation is not available to Quebec residents. A Generation client in Quebec, who would otherwise get Pro included, gets Plus-level service there.

Why the Quebec score is full marks. Our Quebec sub-score asks only whether a product files Quebec returns. Wealthsimple does, on two of its three plans, so it scores 5.0. If expert help in French matters to you, weigh the Pro gap separately.

A practical tip for Quebec filers. Quebec has its own slips (the RL series) and its own credits. When you check the auto-filled data, compare the RL slips as carefully as the federal T slips, because a missing RL slip affects only the Quebec return and is easy to overlook.

9. Self-Employed, Rental and Investment Income

Self-employment (form T2125). Wealthsimple Tax has a T2125 section for business and professional income, and Basic covers all income types. A freelancer or sole proprietor can therefore report self-employment income without paying for a higher plan. Keep records of every business expense, because the software only reports what you enter.

Rental income (form T776). Wealthsimple’s published plan details do not confirm support for form T776, the statement of real estate rentals. If you earn rental income, please confirm in the product that it handles T776 before you start. Our tax software picker marks this as not confirmed for Wealthsimple, and for most other products too.

Investment income and capital gains. Basic covers investment income, including capital gains and losses. For the 2025 tax year, half of a capital gain is included in income. If you trade stocks, ETFs or crypto, you need your adjusted cost base for each sale, which the software cannot work out on its own from a sale slip. Our capital gains tax calculator shows the tax on a gain, and our Wealthsimple Crypto review explains how crypto dispositions are reported.

Registered accounts. TFSA withdrawals are not reported as income. RRSP and RRIF withdrawals are, and FHSA contributions are deducted. Make sure each RRSP and FHSA contribution receipt is entered, including any from the first 60 days of the year for RRSPs. If you repay a Home Buyers’ Plan withdrawal, designate the repayment on your return; our Home Buyers’ Plan guide explains the schedule. Our RRSP guide and FHSA guide explain how each is taxed.

10. Wealthsimple Tax Maximum Refund Guarantee

The rule. Wealthsimple offers a maximum refund guarantee. If you re-file with a competitor before December 31, 2026, Wealthsimple refunds the competitor’s price up to $50, or what you paid Wealthsimple, whichever is greater. The guarantee is built around getting a better result elsewhere, so read its full conditions before you rely on it.

What it means in practice. A Basic user who paid $0 and re-files with a $70 product would get $50 back, the capped competitor price. A Plus user who paid $40 and re-files with a $30 product would get $40, because their own payment is greater. The guarantee never pays more than the larger of $50 or what you paid Wealthsimple.

Does it matter. Certified tax software applies the same tax law, so a correctly entered return should produce the same result in any of them. Differences usually come from data entry, missed slips or missed claims, not from the software. The guarantee is a safety net, not a reason to expect a bigger refund.

Deadline. The re-filing window ends December 31, 2026 for returns filed under the current terms. If you think a claim was missed, the faster route is often to change your return with the CRA, which does not require switching software.

11. Wealthsimple Tax for Premium and Generation Clients

Included plans by tier. Core clients pay for Plus or Pro if they want them. Premium clients, with $100,000 or more in assets at Wealthsimple, get Plus included. Generation clients, with $500,000 or more, get Pro included, outside Quebec.

Is it a reason to move assets? On its own, no. Plus is worth $40 a year and Pro $80, small amounts next to the other effects of moving investments, such as fees and the service you get. Count the tax plan as one perk among several. Premium also cuts the managed investing fee from 0.5% to 0.4%, includes a USD account and waives the Wealthsimple credit card‘s $20 monthly fee.

How the tier is measured. Your tier is the higher of your net deposits or your total portfolio value across Wealthsimple, and household members at the same address can combine assets. Upgrades are automatic and take at least one business day. Our Core vs Premium vs Generation guide covers every perk. Enter your assets in the tier finder below to see which plan you would get included.

12. Wealthsimple Tax Pros and Cons

How to read this list. Each point comes from Wealthsimple’s published plans and terms for the 2025 tax year, checked on October 22, 2026, and from our tax software scores.

The balance. For anyone comfortable preparing their own return, the pros win easily: a full-featured product at a price you set. The cons bite only for landlords, people who want an expert to do the work, and Quebec residents who want expert help.

13. Wealthsimple Tax vs TurboTax, H&R Block and Others

The ranking. We rank seven products that appear on the CRA’s NETFILE-certified software list for the 2025 tax year. Scores weigh price (35%), features (35%), support (15%) and Quebec filing (15%). Ties are ordered by the unrounded score, then by name.

Wealthsimple Tax vs TurboTax. TurboTax Free covers only simple returns and excludes investment, rental and self-employment income, donations and medical expenses. Its paid Do It Yourself, Expert Assist and Expert Full Service lines are priced by the complexity of your return. TurboTax wins on expert help: Expert Assist adds a final review, and Expert Full Service has an expert prepare the return. Wealthsimple wins on price for anyone who prepares their own return.

Wealthsimple Tax vs H&R Block. H&R Block’s free tier suits straightforward T4 returns. It offers an Expert Help add-on and in-office, drop-off and remote services, which Wealthsimple does not. The paid prices on its page carry no tax-year label, so we do not print them as 2025 prices.

Wealthsimple Tax vs CloudTax. CloudTax also offers a free or pay-what-you-want option for up to 2 returns and paid expert services, but it does not mention Quebec returns, which costs it on the Quebec factor.

Wealthsimple Tax vs UFile, GenuTax and StudioTax. UFile is free only for some filers and charges from $20.95 otherwise. GenuTax is free for everyone but offers no expert help and does not confirm Quebec support. StudioTax’s mobile app is free, but its desktop price is not published. Our best tax software ranking has a full card for each product.

14. Who Wealthsimple Tax Suits and Who Should Look Elsewhere

Do-it-yourself filers. If you are comfortable entering your own slips and claims, Basic gives you a full-featured return at a price you choose, including $0.

Couples and small households. Basic covers 2 returns. Plus covers up to 8 for $40 plus tax, which suits families filing for adult children or parents.

Freelancers and investors. Self-employment on T2125, investment income and capital gains are all on Basic. You pay only if you want faster support, audit protection or a consultation.

Wealthsimple Premium and Generation clients. If you already hold $100,000 or more at Wealthsimple, Plus costs you nothing, and at $500,000 Pro is included outside Quebec.

Look elsewhere if you own a rental. Until T776 support is confirmed, landlords should check the product carefully or use software that confirms rental income, such as TurboTax’s paid tiers.

Look elsewhere if you want someone to do it. Wealthsimple’s plans do not include full-service preparation. TurboTax Expert Full Service, H&R Block’s in-office service or a professional accountant fit better, especially for a business, a trust or a complex cross-border return.

What You Need and What You Get With Wealthsimple Tax

How Filing With Wealthsimple Tax Works

1. Gather your documents. Collect every slip and receipt, and your last notice of assessment, before you start.
2. Start a return. Begin on Basic. You can move to Plus or Pro later if you need more returns, faster support or an expert.
3. Use auto-fill. Import the slips the CRA, and Revenu Quebec if you live in Quebec, have on file, then check them against your paper and PDF slips.
4. Add what auto-fill cannot see. Enter self-employment income and expenses, the cost base of investments you sold, donations, medical expenses and other claims.
5. Review the summary. Check your income, deductions and refund or balance owing, and fix anything that looks wrong before you submit.
6. Choose your price and file. Pick what you pay on Basic, including $0, or pay for Plus or Pro, then file by NETFILE.
7. Keep your records. Save a copy of the return and your supporting documents in case the CRA asks for them later.

10 Strategies to File for Less With Wealthsimple Tax

Illustrative Example: What One Household Pays for Wealthsimple Tax

Meet the Experts Behind WealthScale

Sharad Gondaliya, CPAWriter and tax reviewerCPA Ontario No. 61040184

Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.

• Chartered Professional Accountant, CPA Ontario
• Certified Public Accountant, Washington (No. 57629) and Montana (No. PAC-CPAP-LIC-033176)
• Writing on tax and registered accounts since 2021
• Reader’s Choice Award 2025 Winner, Best Accountant (Toronto)

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Neha Gupta, CFAFinancial ReviewerCFA charterholder

Neha Gupta is a CFA charterholder based in Winnipeg who has worked in financial markets since December 2005. She has published more than 2,600 investment articles and is Head of Operations and Finance at Whiteland Real Estate. She reviews WealthScale’s investing pages for accuracy.

• CFA charter, CFA Institute (awarded 2023)
• Post Graduate Diploma in Business Administration (Finance), 2008
• In financial markets since December 2005
• More than 2,600 published investment articles

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