Job prospects Income Tax Expert in Ontario

Explore current and future job prospects for people working as an "income tax expert" in Ontario or across Canada.

Job opportunities in Ontario

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be very good for Financial auditors and accountants (NOC 11100) in Ontario for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to several new positions.
• Several positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

What Types of Employers Are Out There?

• Employed in all major industry categories, with the leading share in accounting, tax preparation, bookkeeping and payroll services
• Finance and insurance companies such as banks

What are the Main Trends Affecting Employment?

• Ongoing need for accounting and auditing services across businesses and departments should lead to relatively stable job prospects
• Need for financial decision making and regulatory oversight
• Increased demand during the federal tax-filing season, though the availability of online accounting software may temper overall work

What Skills Do I Need to Succeed?

• In addition to formal education in accounting or a related discipline, there are several professional designations associated with this occupational group
• Chartered Professional Accountants of Ontario is the regulatory body for Chartered Professional Accountants (CPAs).

Here are some key facts about Financial auditors and accountants in Ontario:

• Approximately 97,900 people work in this occupation.
• Financial auditors and accountants mainly work in the following sectors:
  • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 35%
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 10%
  • Federal government public administration (NAICS 911): 6%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 93% compared to 81% for all occupations
  • Part-time workers: 7% compared to 19% for all occupations
• 79% of financial auditors and accountants work all year, while 21% work only part of the year, compared to 63% and 37% respectively among all occupations. Those who worked only part of the year did so for an average of 47 weeks compared to 43 weeks for all occupations.
• 16% of financial auditors and accountants are self-employed compared to an average of 15% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 47% compared to 52% for all occupations
  • Women: 53% compared to 48% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 9% for all occupations
  • high school diploma or equivalent: less than 5% compared to 25% for all occupations
  • apprenticeship or trades certificate or diploma: less than 5% compared to 8% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 14% compared to 22% for all occupations
  • bachelor's degree: 55% compared to 24% for all occupations
  • university certificate, degree or diploma above bachelor level: 27% compared to 13% for all occupations

Breakdown by region

Explore job prospects in Ontario by economic region.

Source Labour Market Information | Prospects Methodology

Labour market conditions over the next 10 years

Explore current and future job prospects for people working as an "income tax expert" Financial auditors and accountants (NOC 11100) or across Canada.

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