Tax Planning Software

Over the last the ten years tax planning software has taken an adhoc, manual, time consuming process to a new level of efficiency and effectiveness.

In the US the main suppliers of tax planning software are:

• Tax Planner Pro
• Bloomberg Tax
• Planner CS
• Exec Plan

To date, Australia has lagged behind the US in the adoption and use of tax planning software. Although Australian tax planning revenue exceeds $330 million pa, the majority of tax planning is still done manually, on an adhoc basis. The process is often as primitive as an excel spread sheet or a piece of paper with a few numbers scribbled on it.

Searching for ‘Australian tax planning software’ in Google shows:

• TaxFitness – ($55/month)
• Tax Strategist – ($165/month)
• Change GPS – ($330/month)