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Tax Preparation Services in Canada - Industry Market Research Report

Publisher IBISWorld
Published Dec 30, 2024
Length 78 Pages
SKU # IBSS19493122

Description

Tax Preparation Services in Canada - Industry Market Research Report


Tax Preparation Services in Canada

Revenue for tax preparation providers in Canada has steadily grown throughout 2023, driven by an increasing number of households earning $100,000 or more. 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 the population grows and more people are expected to file their taxes, demand for industry services is expected to grow. As a result, industry revenue has been growing at a CAGR of 3.4% over the past five years and is expected to total $1.7 billion in 2023, when revenue will jump an estimated 5.8%.

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

78 Pages
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

Pricing

Currency Rates
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