Wealthsimple Tax Review Canada 2025

Canada's most popular free tax software — is Wealthsimple Tax truly free, and can it handle your 2024 return? Complete review.

What Is Wealthsimple Tax?

Wealthsimple Tax (formerly SimpleTax) is a CRA-certified, NETFILE-approved tax software for Canadian residents. It operates on a pay-what-you-want (PWYW) model — you can pay $0, or voluntarily contribute any amount you choose after completing your return. There is no paywall, no feature restriction based on income level, and no upsell to unlock basic features.

Wealthsimple Tax Key Features

• Pay-what-you-want pricing — genuinely $0 if you choose
• Clean, modern interface with plain-English questions
• CRA Auto-fill my return (pulls slips from CRA automatically)
• Supports T4, T5, T3, T4A, T4E, T4RIF, T2202, and more
• Self-employed income and expense tracking
• Capital gains and investment income
• Rental income (Schedule L)
• RRSP contributions and pension income splitting
• Real-time refund/balance display as you enter data
• Available on web, iOS, and Android
• Returns can be saved and resumed across devices

Supported Tax Situations

Tax Situation	Supported?
Employment income (T4)	Yes
Self-employed / freelance	Yes
Investment income (T5, T3)	Yes
Capital gains	Yes
Rental income	Yes
EI and government benefits	Yes
RRSP contributions	Yes
Pension income splitting	Yes
Home office deduction	Yes
Foreign income	Partial
Corporate tax returns	No

The Pay-What-You-Want Model Explained

When you complete your return and are ready to submit via NETFILE, Wealthsimple Tax presents a screen asking if you want to make a voluntary contribution. You can enter $0 and proceed to file with no consequence. The suggested amount is typically $19 or $20, framed as supporting the product. There is no obligation and no feature difference based on what you pay.

Wealthsimple Tax Pros

• Genuinely free — no tricks, no locked features
• Best-in-class user interface among Canadian tax software
• Handles complex returns including self-employment and investments
• Auto-fill from CRA saves significant time
• Available on mobile — file from your phone
• No income limit restrictions

Wealthsimple Tax Cons

• No live expert or CPA support included
• Limited help for complex foreign income situations
• Cannot file corporate (T2) returns
• Requires internet connection (cloud-based only)
• No downloadable desktop version

Is Wealthsimple Tax Safe?

Yes. Wealthsimple is a regulated Canadian financial company. Wealthsimple Tax uses 256-bit TLS encryption for data transmission and stores your return data on Canadian servers. The software is CRA-certified annually. Your SIN and financial data are handled with the same security standards as bank-level applications.

Who Should Use Wealthsimple Tax?

Wealthsimple Tax is the best choice for the majority of Canadians — employees, students, retirees, freelancers, and investors. If you need a live CPA to review your return or have highly complex international tax situations, you may need to look at paid options or a tax professional. For everyone else, Wealthsimple Tax is the obvious first choice.