Personal Finance

Another tax preparation software question

  • Last Updated:
  • Feb 27th, 2010 2:28 pm
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[OP]
Newbie
Apr 15, 2009
54 posts
6 upvotes
Calgary

Another tax preparation software question

Hi guys,

This is my second year of filing our Canadian tax returns. This year it's a bit more complicated since I have a company stock savings plan, a company RRSP and I've withdrawn some of the funds out of the savings plan.

Last weekend I bought QuickTax Standard as it was on sale at Walmart, but since receiving my tax forms/statements from the investment company that manages the company plans for us, I 'm not so sure it supports these forms. I am specifically talking about T5 (statement of investment income) and T5008 (statement of securities transactions).

Luckily I have not opened or installed QuickTax yet, so I can return it. But I sure as hell don't want to go and spend almost $70 on QuickTax Platinum.

I've googled it a bit, and it seems like UFile can handle all of this? It will definitely also be cheaper. Can StudioTax also handle these kinds of forms?

Sorry for sounding dumb, but I really just want to make sure that I don't miss something on my return and then get audited for it. :(

Any advice would really be very appreciated! :)
3 replies
Deal Addict
May 24, 2006
1742 posts
166 upvotes
For sure it supports T5.

As for T5008, you can just enter those into Sch. 3 if they don't have such a form.
Newbie
Feb 25, 2010
2 posts
toronto
usually there are options for T5 as part of you income.
go to ufile.ca and try it for free. you don't need pay yet, if you are ready to file thats the time that you need to pay online. though, i find that its cheaper to buy software that doing it on line. i just tried it to see how much refund i will get so that i can decide if i will buy RRSP or not.
[OP]
Newbie
Apr 15, 2009
54 posts
6 upvotes
Calgary
madie wrote:
Feb 26th, 2010 7:52 pm
usually there are options for T5 as part of you income.
go to ufile.ca and try it for free. you don't need pay yet, if you are ready to file thats the time that you need to pay online. though, i find that its cheaper to buy software that doing it on line. i just tried it to see how much refund i will get so that i can decide if i will buy RRSP or not.
Good tip! Thanks madie! :cheesygri

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