As we approach the end of Tax Foresight’s first year on the market, we would like to share a glimpse of the impact of our technology to date. Below are some statistics on who uses Tax Foresight, what types of legal issues they are researching, and how they incorporate the tool into their daily practice to give the best possible advice to their clients. Request a demo to see Tax Foresight in action and try our over 20 Classifiers and Case Finders for yourself.
Usage Stats to Date
First, let’s look at who uses Tax Foresight. Lawyers make up 51% of Tax Foresight’s users, while the remaining 49% includes accountants as well as some in-house tax departments.
Next, let’s look at who uses what on Tax Foresight:
Top 5 Classifiers by Usage
Real Estate (lawyers & accountants)
Residency (lawyers & accountants)
Top 5 Case Finders by Usage
Note that the CCA Navigator is the most recently released feature on the above list. Considering the last month only, the CCA Navigator is our most frequently used Classifier. It's also interesting to note that Tangible Expenditure is the most popular Case Finder despite not appearing in the top five Classifiers.
Bonus fact: in the period since its launch, our GAAR Case Finder has been Tax Foresight's most popular Case Finder.
Did you know?
It takes under ten minutes for a user to complete a Classifier questionnaire. In a fraction of the time it would take to perform traditional legal research, you can obtain a predicted outcome with a confidence gauge, a tailored explanation of Tax Foresight’s analysis, and the most similar cases to your unique fact scenario.
Users generally run each fact scenario through a Classifier at least twice. You can actually re-run a Classifier as many times as you like. We suggest that you run a Classifier with each possible answer to a question that you're unsure about, to get a sense of the relative impact and importance of that factor.
- Each Case Finder includes at least 10 different factors that can be applied in any combination to allow you find cases that match your specific fact scenario. You can search by outcome or issue-specific factors, making case research much more efficient and avoiding cumbersome, keyword searches. Our GAAR Case Finder is the most expansive, including over 30 factors that frequently arise in GAAR cases and enabling you to search by 60 different sections of the Income Tax Act that have been alleged to have been misused or abused.