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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 Key Buyers Chapter

The Tax Preparation Franchise industry exhibits a high level of industry market share concentration. This is predominantly due to the franchise industry being dominated by two key players: H&R Block and ITP Australia. The top four players in the industry account for significantly more than 70% of industry revenue, as most tax preparation service providers are either independently owned accounting practices or large accounting firms with a global presence.

The vast majority of firms in the industry have ten or fewer employees, including non-employers. Many of these firms also operate on a part-time or seasonal basis in accordance with the requirements of tax preparation services and the tax needs of customers... 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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