RRSP piggybank

Toronto-based robo-advisor Wealthsimple Inc. and Mountain View, Calif.-based Intuit Inc., provider of online tax software TurboTax, have joined forces to encourage Canadians to save this tax season, the companies announced Wednesday.

Canadian TurboTax users will have access to an “RRSP Optimizer” that displays potential changes in their taxable incomes and tax refunds if they were to make RRSP contributions of various amounts. From there, they’ll have the option to open, fund or transfer an RRSP with Wealthsimple.

“There were over five million Canadians who filed using TurboTax last year, but only 30% of online customers contributed to an RRSP,” Matt Lisowski, general manager of TurboTax Canada, says in a release. “By combining TurboTax’s ability to optimize taxpayers’ returns with RRSP contributions and with the investment optimization of Wealthsimple, our goal is to help Canadians achieve financial freedom in a way that we could never do on our own.”

The release says that more than 100,000 Canadians have invested more than $3 billion with Wealthsimple.