DIY taxes cost Canadians $5,000+ — here’s why. 1. Wealthsimple Tax is genuinely free for every return type — including self-employment and rental income — while TurboTax charges $24.99 to $139.99 the moment your return gets even slightly complex. → $139.99 2. The federal rate on your first $58,523 of income dropped to 14% in July 2025 — if your software or accountant is still using 15%, you’re overpaying CRA. → 14% 3. The 2026 medical expense threshold sits at roughly $2,814 — many Canadians are filing with last year’s outdated figure and losing the credit entirely. → $2,814 4. Bare trust reporting has a complicated exemption history — never assume the rule applies to you without checking current CRA guidance first, or you risk a costly penalty. Full breakdown 🌐 getwealthy.blog #CanadaFinance #PersonalFinance #CanadianMoney #MoneyTips #Canada
Certified Financial Planner (CFP) and Chartered Investment Manager (CIM) with over 17 years of experience in Canadian personal finance. Spent 10+ years at one of Canada's Big Five banks, the last 7 focused exclusively on high-net-worth clients. Every guide is written with the same depth I bring to real client work — Canada-specific, CRA-verified, and always free.