CloudTax vs TaxFreeway

CloudTax is tax-filing software from CloudTax Inc., based in Toronto, Ontario. It supports self-guided filing and options with review or preparation, and completed returns are submitted to the CRA through NETFILE. The Free plan supports simple tax situations and up to two returns; users can choose to pay even $0. Plus costs $39 a year and allows up to 20 returns from one dashboard. The software supports self-employment, investment, and rental income. It can import CRA slips, use AI to extract details from scanned or uploaded tax documents, and connect with Koinly crypto taxes and CloudReceipts. CloudReceipts captures, categorizes, and manages receipts and syncs expenses for deductions. CloudTax is available on iOS and Android, with web and mobile access. Tax data is encrypted on its servers, and CloudTax says it shares information only with the CRA when the user submits a return through NETFILE. Support options include live chat, email, video tutorials, and tax experts. CloudTax has been CRA-certified since the 2018 tax year.

TaxFreeway prepares Canadian federal, provincial, and territorial tax returns for individual filers. It supports self-employment, rental income, capital gains, and unlimited slips such as T3, T4, and T5. Returns can be completed in Interview mode, Form mode, or both. Tools include integrated spousal returns, tax tips, RRSP and split-pension planners, medical-expense and donation planners, and a return review. CRA services include Auto-fill My Return, NETFILE, ReFILE, Notice of Assessment through Tax Software Service, and address or direct-deposit changes. Returns are prepared and saved on the user’s computer, and the company says its website does not store personal financial information. Users with total family income of $20,000 or less can prepare and NETFILE at no cost. Windows and Mac product keys cover up to 20 returns for the current tax year, priced at 9.95 USD and $14.95, paid once. Quebec TP-1 returns and several electronic form transmissions are excluded.