When filing your tax return using Wealthsimple Tax, it's important to understand how to handle additional information:
Best practices for additional information:
- Submit your tax return online as usual
- Keep all supporting documents for your records
- Only send supporting documentation if specifically requested by the CRA or Revenu Québec
Remember: In most cases, the CRA and Revenu Québec don't need or want additional documents unless they ask for them. The NETFILE system (and Revenu Québec's NetFile system) aren't designed to accept supporting documents.
Special cases - Tax elections:
As of 2020, most elections can be filed electronically. You can include these directly in your tax return when submitting through NETFILE. If you need to file a tax election that's not available in Wealthsimple Tax (i.e. Section 85 or Section 97(2)):
- Submit your tax return via NETFILE using Wealthsimple Tax as usual
- Prepare the required election form
- Print and mail the completed election form to your tax centre
Important: Only use the print and mail option if you absolutely need to include a tax election not supported by Wealthsimple Tax. For standard returns, online filing is faster and more efficient.
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