Tag Archives: income tax return

How to Download and Install StudioTax 2015 to Do and NETFILE Your April 2016 Taxes for Free

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Wow, is it March already? My stack of T3 and T5’s is getting tall so It must be almost time to file our taxes for 2015 before the deadline of April 30, 2016. I’ll start by downloading StudioTax 2015 for Windows as I usually do so that I can test t to NETFILE one of our returns for free.

Does StudioTax 2015 Run On All Windows Platforms?

Nope. As well as Win 3.01, Win 95, and Win 98, StudioTax also no longer runs on Win XP. That’s Microsoft and the CRA’s fault, though, as you can read on the website.

StudioTax 2015 is available for

  • Windows Vista SP2
  • Windows 7
  • Windows 8
  • Windows 8.1 and
  • Windows 10.

I’m going to download it onto my fancy new boat anchor, so I’ll be reviewing the Windows 10 version.

StudioTax also has a version to run on Macs.

Downloading StudioTax 2015

  1. Go to the StudioTax website and read through the information about this year’s edition.
    If you are using Windows, click through to the download page at http://www.studiotax.com/en/?page=2
    For Mac users, click through to http://www.studiotax.com/en/?page=11
  2. NOTE: You can download StudioTax for previous tax years from the download page. Make sure you choose the 2015 version if you are calculating the tax on your 2015 income to submit your return by the April 30 2016 deadline.
    You can download either the .EXE file directly, or to save download time and space, you can download the .ZIP file. They both contain the same software. I’ll download the .EXE file so I don’t have to unzip it.
    For the line that says Latest 2015, click on the link: EXE
  3. The Opening StudioTax2015Intstall.exe window will pop open.
    It says the EXE file is 32.1 MB. I have room for that.
    Click on the Save File button.
  4. If you are like me, you now have to find your Downloads folder.
    Ah, there it is. In my Downloads folder, I have a subfolder called Default. That’s where the file is downloaded to.

Installing StudioTax 2015 on a Windows 10 Computer

  1. Next, I need to install StudioTax 2015 so that I can test it out.
    NOTE: You will need to have the .Net 4.5 framework on your machine. You can read the info about this on the StudioTax download page. Most computers will already have this available.
    On your computer, find the file: StudioTax2015Install.exe
  2. Double click on the file’s name.
  3. The StudioTax 2015 Setup box pops up.
    From the drop-down list, select the language you use, such as English (Canada).
  4. The Welcome to StudioTax 2015 Setup box opens.
    Read the information, then click on the Next button.
  5. StudioTax will suggest a folder in which to store the program. You can select it or click on the Browse button to pick a different folder.
    Once you’ve picked your desired folder, click on the Next button.
  6. Read through the License Agreement.
    If you can accept its terms, click to select the radio button beside “I accept the terms in the License Agreement.”
    Click on the Next button.
  7. Click on the Install button.
  8. If necessary, read the security message from your computer, and click on the Yes button.
    Click on the Finish button.

You’re done! StudioTax 2015 is now on your computer and ready to use!

How to Start StudioTax 2015

Find the icon on your desktop and double click.

Or:

Navigate to the folder for StudioTax 2015.  Double click on the StudioTax.exe file.

Don’t forget to submit a donation to StudioTax after you’re finished using it so that they can afford to offer it to us again next year!

Related Reading

  • [How to Use StudioTax 2015 and the CRA Website to “Autofill” Information Into your 2015 Tax Return] not yet posted!

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Do you use StudioTax to prepare and send in your tax return for free? Do you find it fast and easy to install like I do? Please share your views with a comment.

What’s New for Tax Time for Your 2015 Return Due April 2016 Including the New Auto-fill Return Software Feature

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Do We Still Get to “Income Split” For 2015 If We Are a Married Couple with Young Children?

Although this option will soon be gone, for the 2015 taxation year it is still possible for a married couple with children to receive a tax credit of up to $2000. You calculate your eligibility for this credit in the same way as for 2014.

How Can I Get My Tax Forms and Guides Without Leaving Home?

Don’t forget you don’t have to trudge to the post office to pick up your income tax guides and forms. Nor do you just have to wade through them online. You can order free mail delivery of any forms or guides from the CRA.

Go the CRA webpage at http://www.cra-arc.gc.ca/cgi-bin/puborder.cgi?lang=en and complete the Online Order form.

Although I use free tax filing software like GenuTax and StudioTax, I still like to have a paper copy of the guides and forms to review. I ordered my forms a week ago and they arrived today.

What Free Software Can I Download to Help Calculate and NETFILE my Tax Return?

I have used two of the free tax programs in past years. (Well, I send them a donation but I decide how much and they are small Canadian businesses not large impersonal corporations.) They are

  • StudioTax and
  • Genutax Standard.

StudioTax is now fully approved to file this year’s returns using NETFILE. You can download it to your computer from their website at http://studiotax.com/en/

Genutax Standard is still waiting on the CRA to issue their final approval but hope to receive it on March 2, 2016. When it’s approved, you’ll be able to download it from their website at http://genutax.ca/

As usual, I’ll be running some test scenarios this year to see if I like how the software is working.

In particular, I’ll be interested to see if they have taken advantage of a new CRA option where you can “preload” your forms with some information from your previous year’s tax returns.

New Way To Reduce Typing Old Tax Return (2014) Information Into Your New (2015) Tax Return in Spring of 2016

If you use a computer program to help complete your income tax return, you may be able to save yourself some typing this year.  The CRA has created a bridge to allow certified software to download your information from your previous year’s tax return into this year’s program. For example, it can download information about

  • Tuition and education credits you are carrying forward
  • Capital losses you are carrying forward
  • RRSP contributions you did not deduct yet

And so on.

It will also try to fill in your fields for forms containing information for this year’s tax return including tax slips such as your

  • T4 Income Statement from Employer
  • T4A Statement of Pension or Other Income
  • T4A(P) Statement of CPP Payments
  • T4RIF Statement of Retirement Income Fund Income
  • T5 Statement of Investment Income
  • RC62 Universal Child Care Benefit Statement
  • RC210 Working Income Tax Benefit Advance Payments Statement

You can read more details on the CRA website at: http://www.cra-arc.gc.ca/auto-fill/
Not all tax programs are capable of getting this information automatically. Check your program before you get your hopes up! (It looks like StudioTax may have this feature. If so, I’ll try a test of it.)

Also, be very very sure to review your tax return before filing it. It’s quite possible for a T5 or other important slip to be missing from the government’s website. It’s up to you to make sure you are declaring all of your income, not them. If you don’t declare it all, they can zing you with very harsh penalties and interest charges. Read it through very carefully before you NETFILE or mail it in!

Caution: Watch Out If You Provide Your Email Address!

Remember if you give the CRA your email address you are agreeing that they will stop mailing you your Notice of Assessment and other important letters. Instead, they will send you an email telling you to sign in to your online My Account profile to read these letters.

Related Reading

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Have you used the new auto-fill option with your tax software? What did you think? Please share your experiences with a comment.