Quote:
Originally Posted by DoubleF
IMO CRA auto filed returns are coming down the pipeline. Similar to the auto filing platforms that other countries have, I think this will be the future of Canadian tax system sometime in the near future. CRA will "autofill" a return and give you a timeframe to review. However, this autofill will potentially be disadvantageous to you where none of your deductions are factored in yet. So those that are lazy will pay less tax, those that are diligent can reduce their taxes. IMO that's fair. Also, simple returns will not have to go to an accountant or those low quality tax preparers.
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We’re already most of the way there. With my CRA and TurboxTax accounts linked, almost all of my fields are automatically populated as I prepare my return. T4s, RRSP contributions, etc. For simple returns, it’s quite convenient. But when my returns get more complicated as I start drawing a pension, declaring investment income, etc., I’ll likely have a professional do them.