Canadian efile

From Wikipedia, the free encyclopedia

EFILE is the system used by the Canada Revenue Agency as a means for electronically transmitting tax returns. EFILE is only available to professional tax prepares and is not to be confused with the publicly available NETFILE. EFILE is a form of Electronic Data Interchange.

[edit] Requirements

• A form T183, Information Return for Electronic Filing of an Individual's Income Tax and Benefit Return, needs to be signed by the client.

• Software meeting CRA certification standards, such as Intuit's Profile[1], or Microsophic Inc.'s Visual Tax[2]

• Must be a professional to qualify, along with passing the CRA screening of new applicants.

[edit] Advantages

• Fast and convenient, can be filed anywhere with an internet connection.

• Returns are processed much faster than conventional paper filing.

• Reduces usage of paper, saves money and is environmentally friendly.

• More reliable since you can retain paper slips, and no chance of getting return lost in mail.

[edit] Disadvantages

• Requires a professional tax preparer to file.

• Preparer must have knowledge of system and be approved by CRA to EFILE.