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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 | Feb 2016

Prepare the way: Improvements to e-tax forces industry players to diversify their offerings

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
$206m
Annual Growth 11-16
2.7%
Annual Growth 16-21
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Profit
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Employment
2,011
Businesses
124
Industry Analysis & Industry Trends

Tax preparation franchises mainly service individuals and small businesses. The industry players’ main advantage in gaining these customers is their ability to maximise tax returns or minimise losses for clients. Tax preparation franchisees also know the types of deductions that can be claimed without breaking any taxation laws. While the rise of online tax submissions may limit future industry growth over the next five years, the majority of people are expected to continue to engage tax experts to submit their tax returns each year.

Although the industry is less volatile than many other industries and the overall economy, its fortunes are influenced by employment conditions, average household income, and investment levels... purchase to read more

Industry Report - Industry Investment Chapter

Tax preparation franchises operate at a low capital intensity level. The industry is highly labour-intensive as a large amount of work must be completed manually, such as the assessment of tax deductible items and preparation of tax lodgements. Employees in the industry generally require an understanding of tax law and accounting standards as this knowledge requirement represents a significant item of expense for wages. In 2015-16, wages are expected to account for 52.5% of industry revenue. Used as a proxy for capital, depreciation is estimated to account for 2.0% of industry revenue for the year.

Overall, IBISWorld expects that of every dollar required for wages in 2015-16, approximately $0.04 will be invested in computers and other capital equipment... 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. The 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 return servicesInvestment tax return servicesSmall business tax return servicesOther tax services
 
Industry Activities
Tax consultation servicesTax return preparation servicesTax review services Other taxation services


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