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Tax Preparation Franchises in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tax Preparation Franchises Market Research Report | Business Franchises | Finance & Business Advisory Franchises | Jan 2013

Not so taxing: Growth in e-tax lodgements tempers revenue growth

IBISWorld’s Tax Preparation Franchises market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
H&R Block H&R Block market share
ITP Australia ITP Australia market share
Industry Statistics & Market Size
Revenue
$181m
Annual Growth 08-13
0.7%
Annual Growth 13-18
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Profit
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Employment
1,434
Businesses
230
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 Analysis Chapter

Industry participants assist individuals and businesses in fulfilling one of life's few certainties – taxes. Registered professionals are specialists in personal income tax returns, with many more branching out to offer company tax support as the number of individuals lodging tax returns with an agent falls. Individual and household disposable income and employment status dictates one's necessity and willingness to pay for specialist knowledge. Although Australians are outsourcing more than ever, the economic downturn experienced in 2008-09 reduced the average individual's ability to pay for the services of a tax agent. Consequently, the industry took a hit like many other businesses across Australia... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tax Preparation Franchises Industry?

Industry participants provide tax-return preparation services and operate as part of a franchise business structure. This industry includes businesses that are owned directly by the franchisor. Operators do not provide accounting, bookkeeping, billing or payroll process services.

Industry Products
Personal tax returnInvestment tax returnSmall business tax returnOther returns
 
Industry Activities
ConsultationPreparation of tax returnsTax review services ConsultationPreparation of tax returnsTax review services


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