Wealthsimple Tax Review for Newcomers to Canada (2026)

Key takeaways

Basic plan is pay-what-you-want (even $0); Plus is $40 + tax; Pro is $80 + tax (as of October 2026)
It asks for your date of entry and your foreign income before arrival, which first returns need
It supports Form T1135 for foreign property and has a foreign income section
Quebec returns are supported, but the Pro plan is not available in Quebec or in French
Settle Canada does not sell tax software; this is an independent summary of public information

Short answer: does Wealthsimple Tax work for newcomers?

For most newcomers with a job, bank interest and maybe tuition, it can handle a first return. It asks the two questions a first return needs: the date you became a resident, and your income from outside Canada before that date.

It may not be the right fit if you want a person to prepare your return, if you have a business or rental property abroad and want a review, or if you live in Quebec and want expert help. In those cases, compare our DIY, accountant or clinic guide.

Independence: Settle Canada is a non-commercial information site. We do not sell tax software. Prices and features below come from Wealthsimple’s own pages, the CRA and Revenu Québec, checked October 10, 2026.

How much does Wealthsimple Tax cost (as of October 2026)?

Plan	Price	Returns	What it adds
Basic	Pay what you want, including $0	2	All tax forms, CRA auto-fill, standard email support (3 days)
Plus	$40 + tax	Up to 8	Audit protection, year-round tax support, priority email support (1 day)
Pro	$80 + tax	9 or more	Year-round access to tax experts and customized advice; not available to Quebec residents or in French

Wealthsimple’s comparison chart says it was last updated in December 2025. Prices for filing 2026 tax returns (in spring 2027) may change, so check the Wealthsimple Tax page before you start.

The CRA’s certified software list for 2025 returns puts Wealthsimple Tax in the “free” group, with optional paid services. Revenu Québec’s list describes it as having a “free version with restrictions.” The two lists use different labels, so read the provider’s terms for your situation.

Which newcomer features does it have?

What a first return needs	In Wealthsimple Tax?	Where we checked
Date of entry to Canada	Yes, in the residency questions	Wealthsimple Help Centre
Foreign income before arrival (for the 90% rule)	Yes	Wealthsimple Help Centre
Foreign income after arrival	Yes, “claim foreign income” is listed on all plans	Wealthsimple pricing page
Form T1135 (foreign property over $100,000)	Yes	Wealthsimple Help Centre
Rental and investment income, capital gains	Yes, all plans	Wealthsimple pricing page
Quebec return (TP-1)	Yes, on the Revenu Québec authorized list	Revenu Québec
NETFILE (CRA online filing)	Yes, CRA-certified	CRA certified software list
A person prepares the return for you	No; Pro gives expert guidance, not full preparation	Wealthsimple pricing page

How does it handle your arrival year?

In your arrival year, Canada taxes your world income only from the date you became a resident. Some federal credits are prorated by the days you lived here. The CRA says you can claim them in full if your Canadian income for the part of the year before you arrived was 90% or more of your net world income for that part.

Wealthsimple’s help article says it asks for foreign-source income earned before you moved only to test this 90% rule. It says reporting that income does not mean Canada taxes it. If you do not meet the rule, the software prorates the credits by your date of entry.

To see how proration affects your tax before you file, try our part-year tax estimator. If you have savings or property still at home, check whether you need a T1135 with our T1135 checker.

Where does Wealthsimple Tax fall short?

Quebec expert help: the Pro plan is not available to Quebec residents. Quebec filers can use Basic or Plus.
French: Pro is not offered in French.
Recent years only: Wealthsimple’s help centre says the software can only be used for tax years 2023 and later. If you need to file for an earlier year, you need another option.
Support speed on Basic: email support with a standard response time of 3 days, according to Wealthsimple.
No full-service option: you enter your own information. If your first year includes a business, rental property abroad, or a residency question you are unsure about, consider a professional review.
Auto-fill in year one: auto-fill needs a CRA account. If you have never filed a Canadian return, you may not have one yet, so be ready to type in your slips. See CRA My Account for newcomers.

How does it compare with other options?

Option	Cost	Good fit when
Wealthsimple Tax Basic	Pay what you want	You are comfortable entering your own slips and dates
Other free certified software	Free (CRA list: Better Tax, GenuTax Standard)	You want a different interface; check Quebec support separately
Free tax clinic (CVITP)	Free	Modest income and a simple return; no foreign income after arrival
Accountant or tax preparer	Fees vary	Business, rental, foreign property or residency questions

For a full side-by-side of certified products, see our tax software comparison or take our quiz.

Who it fits, by situation

Your situation	Plan that matches	Note
Single newcomer, one job, arrived mid-year	Basic	Enter your arrival date and pre-arrival income carefully
Couple filing together	Basic	Basic covers 2 returns
Family filing 3 to 8 returns, or you want audit protection	Plus	$40 + tax as of October 2026
You want to ask a tax expert questions (outside Quebec)	Pro	$80 + tax as of October 2026; English only
Quebec resident who wants expert help	Not offered	Consider a clinic or a local preparer

Plan names and limits are from Wealthsimple’s pricing page. Your own needs may differ, so read the plan details before you pay.

Steps to file a first return with it

Gather your slips (T4, T5, T2202; RL slips in Quebec), your SIN and your arrival date.
List your income from outside Canada for the part of the year before you arrived, in Canadian dollars.
In the residency questions, say you were not a resident all year and enter your date of entry.
Enter foreign income earned after arrival, and any foreign tax paid on it.
Answer the foreign property question. The CRA says you do not have to file Form T1135 for the year you first became a resident. From the next year, the rules apply as usual.
Apply for benefits. In your first year you may need Form RC151 for the Canada Groceries and Essentials Benefit; see our RC151 guide.
Review, then file by NETFILE before April 30.

Common questions

Is Wealthsimple Tax really free?

The Basic plan is pay-what-you-want, and you can pay $0, according to Wealthsimple (as of October 2026). Plus and Pro cost $40 and $80 plus tax.

Can I use Wealthsimple Tax in my first year in Canada?

Yes. It asks for your date of entry and your foreign income before arrival, which a first return needs.

Does it work in Quebec?

Yes. Revenu Québec lists it as authorized software for the TP-1. The Pro plan is not available to Quebec residents.

Does it support T1135?

Yes. Wealthsimple’s help centre explains how to fill in Form T1135 for foreign property costing more than $100,000.

Do I need a Wealthsimple investment account?

No. The pricing page shows plans for anyone. Some paid plans are free for certain Wealthsimple clients.

Sources

Checked against these sources on October 10, 2026. Spotted something out of date? Tell us.

Wealthsimple Tax review for newcomers: what it does for your first return