How to Complete a Business and Personal Income Tax Return Using GenuTax Standard

After downloading and installing GenuTax Standard 2013 it was time to give it a test. I reviewed how it works to complete a business and personal income tax return. Then I did a real tax return and submitted it using NETFILE.

Would I Use GenuTax Standard to Do My Taxes Again?


Yes. Although the interview technique of entering data is slow and boring it works. The questions for the comprehensive interview are detailed and they ensured I entered all of my income and deductions properly.

Which is Better GenuTax Standard 2013 or StudioTax 2013?

As I often say to my children about other topics, one is not better or worse, they are just different.

GenuTax Standard is best for someone who prefers an interview-style tax program. The questions make it more difficult to forget to enter information.

GenuTax Standard also integrates some of the new required information for NETFILEing (such as how much of the declared interest income was earned from Bank interest; Bonds interest; and Mortgage interest) directly into the initial parts of the program. This makes it a bit faster to NETFILE than using StudioTax which requires you to check and/or add the information to a form called NETFILE after completing the main data entry screens and before NETFILEing.

StudioTax is simpler and faster for someone who already knows exactly which tax forms to fill out and where they need to enter their data. However, it is easier to miss entering some information in StudioTax. For example, it doesn’t prompt you to remember the fitness and art amounts for dependant children if you don’t select the Dependants option during the wizard process. It also never prompts you to enter interest for which you did not receive a T-slip, such as for a small bank account interest amount.

How to Use GenuTax Standard for a Business and Personal Income Tax Return

Start GenuTax Standard 2013.

Click to select the radio button beside the option: Create a new taxpayer file.

Click the Ok button.

In the appropriate fields, type your

  • Social insurance number
  • Full name
  • Date of Birth
  • And select Male or Female

Click the Ok button.

Save Taxpayer File Screen
Select where you want your file saved, and if desired change the name of the file, then click the Save button.

Create Tax Return Screen
Select the year, for example 2013, for which you wish to create your tax return file.

Click the Ok button.

Tax Interview Screen
Click to select the radio button beside Yes if you want more information about how GenuTax Standard will interview you.

Otherwise click to select the radio button beside No.

Click the button: Next (F8)

Type of Interview Screen
Click to select the radio button beside Comprehensive interview.

Click the button: Next (F8)

Marital Status Screen
From the drop-down list select whether you are single, separated, divorced, widowed, married or living in a common-law relationship.

Click the button: Next (F8)

Marital Status Changes Screen
Click to select Yes/No for whether your marital status changed during 2012, 2013 or 2014.

Click the button: Next (F8)

Dependent Because of an Impairment Screen
Click to select Yes/No for whether you depended on a spouse or partner because of a physical or mental impairment.

Click the button: Next (F8)

Marital Situation for 2013 Screen
Click to select Yes/No for whether you were ever not with your spouse or partner in 2013.

Click the button: Next (F8)

Involuntary Separation Screen
Click to select Yes/No for whether you had a separation for medical reasons.

Click the button: Next (F8)

Preparing Returns Together Screen
Read the information. If you wish, you can select to prepare your return and your spouse or partner’s return at the same time. If that is what you want, click on the Prepare Returns Together button. I didn’t want to do that, so I have not evaluated that option.

Click the button: Next (F8)

Resident of Canada Screen
Click to select Yes/No for whether you were resident at year end.

Click the button: Next (F8)

Province or Territory of Residence at the End of 2013 Screen
From the drop-down list select where you were living on December 31 2013.

Click the button: Next (F8)

Date of Move from One Province or Territory of Residence to Another Screen
If applicable, enter the date you moved.

Click the button: Next (F8)

Home and Mailing Address Screen
Click to select Yes/No for whether your mailing and home address are the same.

Click the button: Next (F8)

Current Province or Territory of Residence Screen
From the drop-down list select where you are living.

Click the button: Next (F8)

Immigration Screen
Click to select Yes/No for whether you became a resident in 2013.

Click the button: Next (F8)

Deemed Non-resident Screen
Click to select Yes/No for whether you were deemed non-resident.

Click the button: Next (F8)

Spouse or Common-law Partner Screen
Provide the following information by typing it in the appropriate fields:

  • Spouse’s social insurance number
  • Spouse’s full name
  • Spouse’s date of birth

Click the button: Next (F8)

Spouse’s or Common-law Partner’s Net Income Screen
Type in your spouse or partner’s net income for 2013.

NOTE: If you don’t have this number yet, you can use an estimate and correct it later BEFORE you NETFILE your return.

Spouse’s or Common-law Partner’s RDSP Income Screen
Click to select Yes/No for whether your partner had any RDSP income.

Click the button: Next (F8)

Spouse’s or Common-law Partner’s RDSP Income Paid Back Screen
Click to select Yes/No for whether your partner paid back any RDSP income.

Click the button: Next (F8)

Spouse’s or Common-law Partner’s Capital Gains Screen
Click to select Yes/No for whether your spouse reported certain types of capital gains.

Click the button: Next (F8)

Spouse’s or Common-law Partner’s Form RC310 Screen
Click to select Yes/No for whether your spouse is filing a form RC310.

Click the button: Next (F8)

Spouse or Common-law Partner Self-Employed Screen
Click to select Yes/No for whether your spouse was self-employed.

Click the button: Next (F8)

Spouse or Common-law Partner a Resident of Canada Screen
Click to select Yes/No for whether your spouse was a resident of Canada.

Click the button: Next (F8)

Spouse or Common-law Partner Confined to Prison Screen
Click to select Yes/No for whether your spouse was imprisoned.

Click the button: Next (F8)

Spouse or Common-law Partner Died Screen
Click to select Yes/No for whether your spouse died.

Click the button: Next (F8)

Personal Information Screen
Review the information you entered.

If it is incorrect, click on the Change Personal Information button.

When it is correct, c lick the button: Next (F8)

Communal Organization Screen
Click to select Yes/No for whether you live in a communal organization.

Click the button: Next (F8)

Community Volunteer Income Tax Program Screen
Click to select Yes/No for whether your return is being prepared by a volunteer.

Click the button: Next (F8)

Language of Correspondence Screen
Click to select whether you wish to contact the CRA in English or French.

Click the button: Next (F8)

Current Mailing Address Screen
Click to select if your mailing address is

  • in Canada
  • in the USA
  • in another country

Click the button: Next (F8)

Current Mailing Address Screen
In the appropriate fields, type in your complete mailing address.

Changes to Your Mailing Address Screen
Read the information and if necessary stop and correct your address with the CRA using the methods described.

Click the button: Next (F8)

Home Telephone Number Screen
Type your home telephone number.

Click the button: Next (F8)

Deceased Taxpayer Screen
Click to select Yes/No for whether the tax return is for a person who is deceased.

Click the button: Next (F8)

Citizenship Screen
Click to select Yes/No for whether you are a Canadian.

Click the button: Next (F8)

Elections Canada Screen
Click to select Yes/No for whether the CRA can provide your information to Elections Canada to update the Voter List.

Click the button: Next (F8)

Prison Screen
Click to select Yes/No for whether you were imprisoned in 2013.

Click the button: Next (F8)

Bankruptcy Screen
Click to select Yes/No for whether you declared bankruptcy or were discharged from
bankruptcy in 2013.

Click the button: Next (F8)

Dependants Screen
Read the information and select Yes or No.

I selected No so this review will not include information about dependants.

Click the button: Next (F8)

RRSP Deduction Limit Screen
From your latest Notice of Assessment, type in the amount from line A for your RRSP Deduction Limit.

Click the button: Next (F8)

Unused RRSP Contributions Screen
Click to select Yes/No for whether you carried forward any claimed RRSP contributions without deducting them.

Click the button: Next (F8)

Home Buyers’ Plan Repayment Screen
Click to select Yes/No for whether you are required to make a HBP repayment in 2013.

Click the button: Next (F8)

Lifelong Learning Plan Repayment Screen
Click to select Yes/No for whether you are required to make a LLP repayment in 2013.

Click the button: Next (F8)

Income Screen
Read the information.

Click the button: Next (F8)

Income Screen [again]
Read the information.

Click the button: Next (F8)

Employment Income Screen
Answer Yes/No for whether you have any income from employment.

I did not use any employment income for this test so I will not be describing how to enter this type of information.

Click the button: Next (F8)

Pension Income Screen
Answer Yes/No for whether you have any income from pensions.

I did not use any pension income for this test so I will not be describing how to enter this type of information.

Click the button: Next (F8)

Joint Election to Split Pension Income from Spouse’s or Common-law Partner’s Return Screen
Select Yes/No for whether you want to split pension income with your spouse or partner.

I selected No for this test.

Click the button: Next (F8)

Universal Child Care Benefit (UCCB) Screen
Select Yes/No for whether you received any UCCB payments.

Click the button: Next (F8)

UCCB Repayment Screen
Select Yes/No for whether you re-paid any UCCB payments.

Click the button: Next (F8)

Universal Child Care Benefit (UCCB) Screen
Select Yes/No for whether your spouse or partner received any UCCB payments.

Click the button: Next (F8)

UCCB Repayment Screen
Select Yes/No for whether your spouse or partner re-paid any UCCB payments.

Click the button: Next (F8)

Employment Insurance Benefits Screen
Select Yes/No for whether you received any EI.

Click the button: Next (F8)

Investment Income Screen
Select Yes/No for whether you received any investment income from

  • bank accounts
  • term deposits
  • GICs
  • bonds
  • treasury bills
  • dividends
  • etc

For this test, I selected Yes.

Click the button: Next (F8)

T5 Slips Screen
If you have a T5 slip, click on the button: T5 Slips.

A blank T5 form will be displayed.

  • Type the information on your T5 slip onto the screen in the same fields.
  • To add another new T5 slip, click on the Add a New Slip button.
  • When you are sure you have entered the information correctly for all T5s, click on the Close button.

Click the button: Next (F8)

T3 Slips Screen
If you have a T3 slip, click on the button: T3 Slips.

A blank T3 form will be displayed.

Type the information on your T3 slip onto the screen in the same fields.
To add another new T3 slip, click on the Add a New Slip button.
When you are sure you have entered the information correctly for all T3s, click on the Close button.

Click the button: Next (F8)

T4PS Slips Screen
If you have a T4PS slip, click on the button: T4PS Slips.

A blank T4PS form will be displayed.

Type the information on your T4PS slip onto the screen in the same fields.
To add another new T4PS slip, click on the Add a New Slip button.
When you are sure you have entered the information correctly for all T4PSs, click on the Close button.
Click the button: Next (F8)

T5013 Slips Screen
If you have a T5013 slip, click on the button: T5013 Slips.

A blank T5013 form will be displayed.

Type the information on your T5013 slip onto the screen in the same fields.
To add another new T5013 slip, click on the Add a New Slip button.
When you are sure you have entered the information correctly for all T5013, click on the Close button.

Click the button: Next (F8)

Quebec RL Slips Screen
Click to select Yes/No for whether you received any Quebec RL slips.

Click the button: Next (F8)

Dividend Income Screen
Click to select Yes/No for whether you received any unregistered dividend income without receiving a tax slip.

Click the button: Next (F8)

Interest and Other Investment Income Screen
Click to select Yes/No for whether you received any other investment income for which you did not receive a tax slip.

**This is a great question and one that StudioTax does not ask. For example, if you have earned interest on a bank account but earned less than $50, you may not have received a T5 but you still must report this income. **

I clicked to select Yes.

Click the button: Next (F8)

Interest and Other Investment Income from Canadian Sources Screen
Click to select Yes/No for whether you received any other Canadian investment income for which you did not receive a tax slip.

For my test, I selected Yes.

Click the button: Next (F8)

Canadian Investment Income Screen
Type in the information about who paid you income, the amount received, and if applicable the amount as a percentage earned by yourself and some other individual such as a spouse.

Click the button: Next (F8)

Canadian Investment Income Screen [same name different questions]
Click to select

  • There are no further entries to make
  • Add another entry
  • Edit details for an entry
  • Delete an entry

If necessary, complete other screens.

Click the button: Next (F8)

Interest and Other Investment Income from Foreign Sources Screen
Click to select Yes/No for whether you received any other foreign (including USA) investment income for which you did not receive a tax slip.

For my test, I selected No.

Click the button: Next (F8)

Sources of Interest Income Screen
Type in the amount of interest paid as

  • Bank interest
  • Bond interest
  • Mortgage interest

NOTE: They mean if you loaned someone money as a mortgage and they paid interest to you, you should report the amount. It does not mean how much you paid a bank or other lender in interest for your own mortgage.

**This differs from StudioTax. In StudioTax you have to complete this information on the NETFILE form after you finish your other tax forms. This method by GenuTax Standard is more convenient. **

Click the button: Next (F8)

Partnership Income Screen
Click to select Yes/No for if you were in a partnership that received a T5013 slip.

Click the button: Next (F8)

Partnership Income Screen [two]
Click to select Yes/No for these other partnership questions.

Click the button: Next (F8)

Rental Income Screen
Click to select Yes/No for whether you had income from renting property or items.

Click the button: Next (F8)

Self-Employment Income Screen
Click to select Yes/No for whether you have self-employment income to report.

For this test, I selected Yes.

Click the button: Next (F8)

Multiple Jurisdictions Screen
Click to select Yes/No for whether your business had a permanent establishment outside of your province of Residence during 2013.

Click the button: Next (F8)

Farming Income Screen
Click to select Yes/No for whether you had farming income.

Click the button: Next (F8)

Fishing Income Screen
Click to select Yes/No for whether you had fishing income.

Click the button: Next (F8)

Business Income Screen
Click to select Yes/No for whether you had income not from farming or fishing.

For my test, I selected Yes.

Click the button: Next (F8)

Name of Business Screen
Type in your business’s name.

Click the button: Next (F8)

Type of Business Screen
Click to select whether your type of business is

  • Professional (doctor; dentist; lawyer; accountant; etc)
  • Self-employed commission sales
  • Other

For my test, I selected Other.

Click the button: Next (F8)

Business Address Screen
Type the correct information in the fields for the address for your self-employment business.

Click the button: Next (F8)

Fiscal Period Screen
Type in the start and end dates for your business fiscal period.

For example, for my test, I typed 2013 01 01 and 2013 12 31.

Click the button: Next (F8)

First Year of Operation? Screen
Click to select Yes/No for whether this was your first year of operation for this business.

For my test I selected No.

Click the button: Next (F8)

Final Year of Operation? Screen
Click to select Yes/No for whether this was your final year of operation for this business.

For my test I selected No.

Click the button: Next (F8)

Industry Code Screen
From the drop-down list select the industry code for your business.

Click the button: Next (F8)

Main Product or Service Screen
Type in your main product.

Click the button: Next (F8)

Identification Numbers Screen
If applicable, type in our 15 character CRA id number.

Click the button: Next (F8)

Type of Ownership Screen
Click to select the appropriate radio button beside

  • Sole Owner; or
  • Partnership

Click the button: Next (F8)

Internet Business Activities Screen
**This is the new required information on a T2125 for 2013.**

Type in the number of websites from which your business earns income.

**For more information on this topic, see the CRA T2125 Form and Guide.**

Click the button: Next (F8)

Business Internet Addresses Screen
Type the URLs of your websites or of the 5 websites that earn you the most income.

Click the button: Next (F8)

Internet Business Activities Screen
Type the percentage of your gross income that was generated from those websites.

Click the button: Next (F8)

Business Income Screen
Read the screen.

Click the button: Next (F8)

Sales, Commissions, or Professional Fees Screen
Type the amount of income your business earned.

Click the button: Next (F8)

GST and PST, or HST Screen
Type the amount of the taxes. For details see the CRA guide.

Click the button: Next (F8)

Quick Method of Accounting for GST/HST
Click to select Yes/No for whether you are using the Quick Method of accounting for your HST/GST remittances.

Click the button: Next (F8)

Returns, Allowances and Discounts Screen
Enter the amount of returns, allowances and discounts if not already included in your gross amount.

Click the button: Next (F8)

Reserves Deducted Last Year Screen
If you deducted any allowable reserves for 2012, type in the amount.

Click the button: Next (F8)

Other Income Screen
If you received any other income for the business, type it in.

Click the button: Next (F8)

Cost of Goods Sold Screen
Click to select Yes/No for whether this business buys goods for resale or manufactures goods.

Click the button: Next (F8)

Business Expenses Screen
Read the information.

Click the button: Next (F8)

Advertising Screen
Type in your advertising costs.

Click the button: Next (F8)

Bad Debts Screen
Type in the amount of your bad debts.

Click the button: Next (F8)

Business Tax, Fees, Licences, Dues, Memberships, and Subscriptions Screen
Type in your costs.

Click the button: Next (F8)

Delivery, Freight and Express Screen
Type in your costs.

Click the button: Next (F8)

Fuel Costs Screen
Type in your costs.

Click the button: Next (F8)

Insurance Costs Screen
Type in your costs.

Click the button: Next (F8)

Interest Costs Screen
Type in your costs.

Click the button: Next (F8)

Maintenance and Repairs Screen
Type in your costs.

Click the button: Next (F8)

Management and Administration Fees Screen
Type in your costs.

Click the button: Next (F8)

Meals and Entertainment Screen
Type in your costs.

Click the button: Next (F8)

Motor Vehicle Expenses
Click to select Yes/No for whether you have business motor vehicle expenses.

Click the button: Next (F8)

Office Expenses Screen
Type in your costs.

Click the button: Next (F8)

Convention Expenses Screen
Type in your costs.

Click the button: Next (F8)

Supplies Screen
Type in your costs.

Click the button: Next (F8)

Legal, Accounting and Other Professional Fees Screen
Type in your costs.

Click the button: Next (F8)

Property Taxes Screen
Type in your costs.

Click the button: Next (F8)

Rent Screen
Type in your costs.

Click the button: Next (F8)

Salaries, Wages, Benefits, and Employer Contributions Screen
Type in your costs.

Click the button: Next (F8)

Travel Screen
Type in your costs.

Click the button: Next (F8)

Telephone and Utilities Screen
Type in your costs.

Click the button: Next (F8)

Business-use-of-home Expenses Screen
Click to select Yes/No whether you have home office expenses.

Click the button: Next (F8)

Other Expenses Screen
Type in your costs.

Click the button: Next (F8)

Capital Cost Allowance Screen
Click to select Yes/No whether you want to claim CCA.

Click the button: Next (F8)

CCA Class Number Screen
Type the number of the first CCA Class you need to claim.

Click the button: Next (F8)

Undepreciated Capital Cost (UCC) Screen
Type your UCC.

Click the button: Next (F8)

CCA Additions Screen
Click to select Yes/No for whether you acquired assets in this class in 2013.

Click the button: Next (F8)

CCA Dispositions Screen
Click to select Yes/No for whether you disposed of any assets in this class in 2013.

Click the button: Next (F8)

CCA Class Has Assets Left?
Click to select Yes/No for whether any assets remained in this class at the end of 2013.

Click the button: Next (F8)

CCA Classes Screen [a different one]
Click to select the following option

  • There are no further CCA classes to enter
  • Add details for another CCA class
  • Edit details for a CCA class
  • Delete details for a CCA class

Click the button: Next (F8)

Limit CCA Claim? Screen
Click to select Yes/No for whether you want to limit the CCA claim for this business to a certain amount for this year.

Click the button: Next (F8)

Land Screen
Click to select Yes/No for whether you bought or sold land.

Click the button: Next (F8)

Eligible Capital Property Screen
Click to select Yes/No for whether you are claiming on ECP for this business.

Click the button: Next (F8)

Details of Equity Screen
Type in the following amounts for the business

  • Total business liabilities
  • Drawings in 2013
  • Capital contributions in 2013

Click the button: Next (F8)

Reconciliation of Business Income Screen
Click to select Yes/No for whether you filed a T1139 for the business for 2012.

Click the button: Next (F8)

Businesses Screen
Click to select option

  • There are no further businesses to enter.
  • Add details of another business.
  • Edit details for a business.
  • Delete details for a business.

Click the button: Next (F8)

Employment Insurance (EI) Premiums on Self-Employment Earnings Screen
Click to select Yes/No for whether you are using the EI special benefits program.

Click the button: Next (F8)

Capital Gains and Losses Screen
Click to select Yes/No for whether you have any capital gains or losses to report for the year.

Click the button: Next (F8)

Support Payments Received Screen
Click to select Yes/No for whether you received support payments in 2013.

Click the button: Next (F8)

Social Assistance Payments and Workers’ Compensation Benefits Screen
Click to select Yes/No for whether you received either in 2013.

Click the button: Next (F8)

Working Income Tax Benefit (WITB) Advance Payments Screen
Click to select Yes/No for whether you received any in 2013.

Click the button: Next (F8)

Other Income Screen
Click to select Yes/No for whether you received any other sources of income in 2013.

Click the button: Next (F8)

Retroactive Lump-Sum Payments Screen
Click to select Yes/No for whether received any.

Click the button: Next (F8)

Foreign Property Screen
Click to select Yes/No for whether you hold or held foreign property, outside of your RRSP, with a total cost of more than $100 000 CAD including nonregistered US stocks or mutual funds.

Click the button: Next (F8)

Canadian Indians Screen
Click to select Yes/No for whether a status Indian.

Click the button: Next (F8)

Deductions and Tax Credits

Deductions and Credits Screen
Read the information.

Click the button: Next (F8)

There are many, many screens. I will not report them.

In general, read the screen, click to select Yes or No to the questions, and when applicable type in the required amounts before clicking on the Next (F8) button.

When you have completed the deductions section, it is time to save your file and check everything.

To Save Your GenuTax Standard Tax Return File

To save your GenuTax Standard file, click on the Floppy Disk icon on the top navigation bar.

Next Steps:

  • Review your tax return for errors and omissions.
  • Use NETFILE to send it to send your tax return to the CRA.
  • Pay any taxes owing before May 1, 2014 to avoid any penalties and interest.
  • Make a donation to GenuTax to keep the developer alive and willing to create another version for your 2014 taxes.

Related Reading

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Have you used GenuTax Standard to calculate your income tax return? Did you like what it did? Please share your experiences with a comment.

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