Industry Analysis & Industry Trends
The Tax Preparation Franchises industry will not diminish in significance; however, the rise of tax submissions via the internet may dampen industry participants' exuberance. The global financial crisis, which resulted in the loss of jobs and income led to fewer tax returns being lodged. Of those lodged, nearly 70,000 more were lodged via e-tax while those submitted through agents and various means fell by 400,000. The weaker demand for tax preparation services in tough conditions reflects individuals' lower capacity and willingness to pay for tax services. Although the industry experiences less swings compared with the overall economy, its fortunes are undoubtedly tied to employment conditions... purchase to read more
Industry Report - Industry Products Chapter
Services offered by the Tax Preparation Franchise industry consist predominantly of tax related lodgement services. Bookkeeping and other accounting and finance services are omitted from the industry.
Small business tax return
The largest service segment of the industry is small business tax returns. As small business tax lodgement is significantly more complicated than individual tax returns, many business owners outsource lodgement to specialised tax preparation professionals with an understanding of tax law and accounting standards. In 2012-13, small business tax returns are estimated to account for 36.2% of industry revenue... purchase to read more