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Maximizing your refund using the power of math

Unlike our neighbours to the south, you’re generally not allowed to split your income with your spouse. Let’s say my wife earns a lot more than I do, so she gets taxed more on each dollar she earns. Come tax time, she’s not allowed to allocate some of her income to me to reduce her tax bill. The most common exception to this rule is pension income splitting, which allows pension income to be split between partners in certain circumstances.

Even though you can’t split your income with your partner, there are certain credits and deductions you’re allowed to play with. Back to my rich wife poor husband example: if I donate $150 to a local animal shelter, either of us can claim the credit. Depending on our individual tax situations, we may be able to lower our collective tax bill.

Figuring all this out can be time consuming. It gets even more complicated when you throw carry-forwards or pension splitting into the mix.

This year, SimpleTax will take care of these optimizations for you.

When using SimpleTax with a partner, we’ll automatically share certain sections (note the purple badge). When a section is shared, the same information appears on both your and your partner’s tax return.

Once both you and your partner have finished entering your information, you’re ready to optimize. Just click the “Check & Optimize” button and SimpleTax will run thousands of calculations to figure out how to maximize your combined refunds. Each calculation follows a strict set of rules, so there’s no increased audit risk—only increased refunds.

You keep full control. Before you submit your return, you can review and change how we’ve allocated the amounts.

And that’s all there is to it. Our optimizers cover donations, political contributions, child art and fitness amounts, adoption expenses, public transit amounts, medical expenses, pension splitting, and more. They’re completely automatic, so you can sit back, relax, and save even more time and money this year.

Coming Soon

Tax return optimization is just one of the great new features in SimpleTax 2013.

And it’s almost here. Be one of the first to know when it’s ready. Like us on Facebook or follow us on Twitter.

File your 2018 tax return today

This year, enjoy doing your taxes. Seriously.