Tax Preparation Services in Canada - Industry Market Research Report

Tax Preparation Services in Canada

The Tax Preparation Services industry in Canada has steadily grown over the five years to 2019, driven by increasing employment and consumer disposable income. The industry provides assistance to individuals and small businesses in completing, reviewing and filing tax returns. Industry operators review consumer financial documents, nominate appropriate deductions and claims, review files and send documents to the Canada Revenue Agency (CRA). As disposable income grew, more consumers became able to pay for industry services. The introduction of online tax preparation services has been the most prominent industry trend over the past five years. Strong growth of user-friendly online products provided by operators, coupled with increasing internet capabilities, has enabled more consumers to complete their returns through tax software. These technological advancements are disrupting traditional industry operations. Over the five years to 2024, industry revenue is forecast to grow. Since the economy is expected to grow steadily with unemployment remaining low and the need for tax services is unlikely to change in the near future, demand for industry services is expected to grow.

The Tax Preparation Services industry in Canada provides tax return preparation services to individuals without also providing accounting, bookkeeping, billing or payroll process services. Although the offices of CPAs are excluded from this industry, basic knowledge of tax law and filing requirements is required.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.


TABLE OF CONTENTS

ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS
Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

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