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Home Tax Savings

What’s New in StudioTax 2008?

by Ram Balakrishnan
February 1, 2009
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Last year, I reviewed StudioTax, found it to be of very good quality and ended up Netfiling our taxes using it. Many Canadians seem to agree — StudioTax reports that more than 100,000 taxpayers used the software to file their returns in 2007. I asked the developer of the software for an update on what’s new for the 2008 tax year and here’s what I found:

  1. StudioTax now has the ability to split pension income for senior couples.
  2. Taxpayers can now print a PDF copy of their return without installing third-party software such as CutePDF. Those filing paper returns can select the forms they would like to print.
  3. The forms for inputting the T-slip information has been cleaned up. Reporting your share of interest, dividend and distribution income from joint accounts has been made automatic.
  4. StudioTax now automatically updates itself by checking if a later version of the software is available on the website.
  5. StudioTax has already received Netfile certification from the Canada Revenue Agency. The Netfile-certified version will be available on the website shortly.

The developers are hoping to have a Mac OS version of the software available for Apple users in the near future. Also in the works: software for filing Quebec provincial taxes.

The personal version of StudioTax is free, though the developers are asking for a donation to support their efforts. They are also diversifying by releasing an enterprise version of StudioTax for professional tax preparers. The enterprise version can be used to E-File tax returns. The first 20 returns are free but heavy-duty users are required to buy a license (cost $150) for unlimited returns.

Related posts:

  1. Reader Question on US Dollar Dividends in a RRSP
  2. Ideas for your Tax-Free Savings Account (TFSA)
  3. Seven Reasons why Retroactive TFSA Room isn’t such a Good Idea
  4. Transferring the Family Cottage: Tax Issues
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