Enter your payments and receipts during the year. Get your T2125 amounts, line by line, at tax time.
For freelancers, consultants and anyone else who is self-employed, in every province and territory. In English and French.
The amounts come from the app’s sample data, the same you see in the screenshots.
Income7,130.00
One client payment, one line. Once you’re registered, FraTax works out the sales tax from the client’s province: HST 13% in Ontario, GST 5% in Alberta, nothing outside Canada.
Expenses827.17
Each expense goes to its T2125 line. You set the business-use share, the 50% meals limit applies itself, and the receipt (PDF or photo) drops onto the form. For a subscription: Duplicate for Next Month.
Equipment1,379.03
Laptop, monitor, desk: these go through capital cost allowance (CCA). FraTax picks the first-year rule from the dates. A computer bought after April 15, 2024 and in use before 2027 is written off 100% in year one.
Stocks40.73
Adjusted cost base per symbol, in Canadian dollars. USD trades are converted at the Bank of Canada daily rate, which the app fetches. Splits, return of capital, reinvested distributions and the superficial loss rule (30 days before and after) are handled.
Overview1,489.36
Revenue, deductions, profit, taxable gains, and a suggested amount to set aside for taxes (30% here). A bar shows where you stand against the $30,000 small supplier threshold, the one that makes GST/HST registration mandatory.
Tax Report4,923.80
T2125 amounts line by line, the CCA schedule, sales tax to remit and capital gains for Schedule 3. Copy it into your tax software, or export the year as CSV files with every receipt, for an accountant or an audit.
Sales tax by province
- AB, NT, NU, YTGST 5%
- OntarioHST 13%
- Nova ScotiaHST 14%
- NB, NL, PEIHST 15%
- QuebecGST 5% + QST 9.975%
- British ColumbiaGST 5% + PST 7%
- SaskatchewanGST 5% + PST 6%
- ManitobaGST 5% + RST 7%
On first launch FraTax asks for your province and sets the rest. In Quebec the report also covers the TP-80, Schedule G, QPP and QPIP. In BC, Saskatchewan and Manitoba the provincial tax is a separate registration and isn’t refunded.
Not included
- The GST/HST and QST quick method
- Which services are subject to PST or RST (it differs by province)
- Vehicle logbooks
- Dividends and interest (your tax software imports the T5 slips)
- CCA recapture or terminal loss when you sell equipment
- The T1135 form (needed if your foreign stocks cost more than $100,000 in total)
- Filing the return: FraTax gives you the amounts, you or your accountant file
One tax year$29.00
The download is free. Each tax year costs $29, paid in the app. macOS 15 or later.
Download for MacQuestions
Does FraTax file my tax return?
No. It gives you the amounts for the T2125 and Schedule 3. You enter them in your tax software, or hand the export to your accountant.
Does it work in my province?
Yes. Every province and territory, with the right sales tax: GST, HST, QST, PST or RST. In Quebec the report also covers the TP-80 and Schedule G.
Do I need to be registered for GST/HST?
No. Until you register, FraTax charges no tax and tracks your revenue against the $30,000 small supplier threshold.
Where is my data?
On your Mac. No account to create. Entries and receipts are stored locally and backed up by Time Machine. The only thing FraTax fetches online is the Bank of Canada exchange rate.
I’m incorporated. Is it for me?
No. FraTax follows the T2125, the form for sole proprietorships. A corporation files a T2.
Is there an iPhone app?
Not yet. FraTax is a Mac app.