Netfile

AAA

DEFINITION of 'Netfile'

Open February to September, this service is one of the electronic filing options available to Canadians, to transmit their tax returns to the Canada Revenue Agency (CRA). Using software approved by the CRA, filers prepare their tax returns, and then upload them on the CRA's website using a code provided to them in their annual tax package.

INVESTOPEDIA EXPLAINS 'Netfile'

It is important to note that filers can not make changes to their personal information such as name, address, date of birth, or direct deposit information, when using Netfile. To make changes to your personal information using your return, you must file your return by the traditional paper method. Alternatively you can change your personal information by contacting the CRA directly.

RELATED TERMS
  1. Electronic Federal Tax Payment ...

    A service offered by the U.S. Department of the Treasury that ...
  2. Filing Status

    A category that defines the type of tax return form an individual ...
  3. Income Tax

    A tax that governments impose on financial income generated by ...
  4. Married Filing Jointly

    A filing status for married couples that have wed before the ...
  5. Canada Revenue Agency - CRA

    A federal agency that collects taxes and administers tax laws ...
  6. Electronic Filing - E-File

    The process of submitting tax returns over the Internet, using ...
RELATED FAQS
  1. What aids will help me file my own tax return?

    Most of us will shy away from doing our own tax returns, especially if it involves reporting capital gains or losses, education ... Read Full Answer >>
  2. Does everyone have to file a federal tax return?

    This may come as a surprise to many individuals, but not everyone needs to file a federal tax return. According to the IRS, ... Read Full Answer >>
Related Articles
  1. Taxes

    Before You Visit Your Tax Preparer: Do This

    The earlier you start preparing your tax records and documents, the more likely you are to have a smooth tax return experience – and all the tax benefits you're due.
  2. Savings

    Tax-Saving Tips For Canadian Taxpayers

    Find out how to get a bigger return.
  3. Options & Futures

    Give Yourself More Options With Real Estate Options

    Real estate options have many benefits, including a smaller initial capital requirement.
  4. Taxes

    Taxes: H&R Block Vs. TurboTax Vs. Jackson Hewitt

    There are more and more tax services to help ease the pain of filing income taxes. Here's our take on three of the biggest.
  5. Options & Futures

    The Fancy Way To Diversify Your Portfolio: Precious Metal Options

    A guide with strategies on how to invest or trade in precious metals by using options.
  6. Options & Futures

    When And How To Take Profits On Options

    Here are the different criteria to ensure maximum profit taking while trading options.
  7. Options & Futures

    The Future Is Now: All About Futures ETFs

    A new security class - futures ETFs - is gaining popularity. We tell you how futures ETFs work and offer tips.
  8. Options & Futures

    How To Protect A Short Position With Options

    Short selling can be a risky endeavor, but the inherent risk of a short position can be mitigated significantly through the use of options.
  9. Economics

    Canadian Dollar Continues To Drop, But Why?

    The Canadian dollar-US dollar exchange rate is positively related to oil prices partly due to crude oil's big share of Canada's total FX currency earnings.
  10. Taxes

    5 Smart Uses For Your Tax Refund

    Consider using the bulk of your refund to take care of long-term needs, like saving for retirement or college.

You May Also Like

Hot Definitions
  1. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  2. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  3. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  4. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  5. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  6. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
Trading Center