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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

The Tax Preparation Franchises market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 - Starting a New Business Chapter

Barriers to entry are low for industry participants. While the knowledge requirement, like many service based industries, is higher, the industry remains predominantly skill based. Capital required to operate in the industry includes an annual franchise fee, and possibly rent and utilities for the premises of which the franchise would operate. Another requirement is the registration process and registration fee required before becoming a paid tax preparer. This simple process has resulted in a large number of industry participants in terms of different franchise owners. However, most franchises are either one man, or non-employing franchises that work on a part-time and seasonal basis, following tax payer needs... 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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