Job prospects Income Tax Consultant in Newfoundland and Labrador

Explore current and future job prospects for people working as an "income tax consultant" in Newfoundland and Labrador or across Canada.

Job opportunities in Newfoundland and Labrador

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be moderate for Financial auditors and accountants (NOC 11100) in Newfoundland and Labrador for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment is expected to remain relatively stable.
• A moderate number of positions will become available due to retirements.
• There are a moderate number of unemployed workers with recent experience in this occupation.

While the number of individuals and small businesses using affordable or free software to file taxes and do bookkeeping tasks has increased, a baseline demand for more complex corporate and public sector accounting remains, which is generally proportional to overall economic activity in the province. Having a recognized credential, such as a CPA, is important to employers, as well as having strong interpersonal skills and prior work experience. Workers in this occupation are concentrated in the Avalon Peninsula due to the large number of professional establishments and government offices in St. John's. Some accountants and auditors may experience a rise in demand during the federal tax filing season. However, the increase during tax season may not be as strong moving forward with the growing use of online software by income tax filers.

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

• Approximately 1,800 people work in this occupation.
• Financial auditors and accountants mainly work in the following sectors:
  • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 27%
  • Federal government public administration (NAICS 911): 10%
  • Provincial and territorial public administration (NAICS 912): 8%
  • Other retail stores (NAICS 44-45, except 445): 6%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 94% compared to 83% for all occupations
  • Part-time workers: 6% compared to 17% for all occupations
• 80% of financial auditors and accountants work all year, while 20% work only part of the year, compared to 56% and 43% respectively among all occupations. Those who worked only part of the year did so for an average of 48 weeks compared to 40 weeks for all occupations.
• 12% of financial auditors and accountants are self-employed compared to an average of 8% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 45% compared to 51% for all occupations
  • Women: 55% compared to 49% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 11% for all occupations
  • high school diploma or equivalent: less than 5% compared to 27% for all occupations
  • apprenticeship or trades certificate or diploma: less than 5% compared to 17% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 22% compared to 23% for all occupations
  • bachelor's degree: 56% compared to 14% for all occupations
  • university certificate, degree or diploma above bachelor level: 16% compared to 7% for all occupations

Breakdown by region

Explore job prospects in Newfoundland and Labrador 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 consultant" Financial auditors and accountants (NOC 11100) or across Canada.

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