To date, Australia has lagged behind the US in the adoption and use of tax planning software. As a result, tax planning in Australia has generally been provided manually, on an adhoc basis, to only a few select clients (under 5% of taxpayers).
Over the last twenty years, every task, function and service in the average accounting practice has changed dramatically. The personal computer, and associated software, has brought enormous efficiencies in the preparation of financial statements, budgeting, and tax return preparation. Today, no accountants perform these tasks manually.
Tax planning has also greatly benefited from computerisation. Tax planning software has now taken an ad hoc, manual, time consuming process to a new level of efficiency and effectiveness. In the US tax planning software has been available for over 15 years with the main suppliers being: