Canadian efile

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.

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 [http://www.accountant.intuit.ca/profile/why_choose_profile.shtm] , or Microsophic Inc.'s Visual Tax [http://www.visualtax.com]

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

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.

Disadvantages

* Requires a professional tax preparer to file.

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