Alternative to TaxTank – How we compare to other apps
Looking for a smarter alternative to your current tax or finance software? You’re in the right place. Whether you’re using tools like Xero, Hnry, or other personal finance apps, most platforms weren’t built to calculate your individual tax in real time. TaxTank was.
We’re the only Australian tax software designed specifically to calculate your personal tax position live as you earn, invest, and spend, so you always know where you stand before 30 June rolls around.
Explore the comparisons below and see what makes TaxTank different.
Meet the best alternative to Microsoft Money
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Meet the best alternative to Xero for Property Investors
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Meet the best alternative to a traditional accountant for property investors
Cut down on accounting fees at tax time with our automated smart calculations that make property deductions easy TaxTank makes tax time easier, allowing you to save on accounting fees
Meet the best alternative to Hnry
Tax software that lets you control your money and simplify your tax You don’t have to open new accounts or give away a portion of your income to handle your
Meet the best alternative to a traditional accountant
Decrease accounting fees and get visibility year round on your tax and personal finance Using live bank feeds and integrated automation, TaxTank revolutionises the mundane task of managing annual taxes,
FAQs – Why there’s no alternative to TaxTank
TaxTank is a tax and personal finance software that calculates your individual tax live while also helping you manage budgets, set goals, and track your overall financial position. It combines tax, personal finance, and planning in one place.
Most platforms either track transactions or allow you to tag something as tax related. None calculate your real tax outcome using Australian tax law. TaxTank calculates your live taxable income, tax payable, offsets, Medicare levy, and more based on 6000 pages of tax legislation. It also shows how your financial decisions affect your tax, all in one personal dashboard.
TaxTank helps you understand and manage your tax throughout the year. Many users still lodge through an accountant, but with TaxTank, you go into tax time informed, organised, and without surprises.
No. TaxTank is built for individuals who lodge a personal tax return, including employees, sole traders, property investors, and share or crypto investors.
Yes. Salary, sole trader income, rental properties, dividends, interest, shares, and crypto are all combined into a single live personal tax position.
No. Even if you have a single PAYG job, TaxTank shows how deductions, side income, investments, Medicare levy, or HECS affect your tax outcome.
No. TaxTank is currently the only Australian software that calculates your individual tax live, while also tracking budgets, financial goals, and your overall personal finances.
Decisions throughout the year – like selling shares, earning side income, buying equipment, or contributing extra to super – impact your tax. TaxTank shows the effect instantly so you can make informed choices rather than guessing.
Yes. TaxTank tracks rental income, expenses, loan interest, depreciation and CGT. It offers the most comprehensive tracking for your property portfolio, no matter the structure.
TaxTank calculates capital gains and losses and factors them into your overall tax estimate. You can see the impact of selling an asset before 30 June, helping you plan strategically.
Yes. Sole trader income, expenses, and tax obligations are included in your live individual tax position.
Most software is designed for business accounting or basic money management. They track numbers but do not interpret Australian individual tax rules. TaxTank was built specifically for live individual tax calculation.
Yes. TaxTank applies all current Australian tax rules, including offsets, Medicare levy, deductions, capital gains, and more, to give your real tax position in real time.
Yes. These are included automatically in your tax summary so you see the full impact on your refund or bill.
Yes. TaxTank uses secure Open Banking feeds to pull in your transactions. Once connected, your income and expenses allocations feed directly into your live tax calculation.
Yes. TaxTank uses bank-level security and encrypted connections for all financial data.
Yes. You can connect your bank feeds and start fresh at any time. Historical data can be imported if you choose.
Yes, but it’s way more than just a budgeting app. TaxTank’s Money Tank feature lets you manage budgets, set goals, and track your overall financial position. It combines tax, money management, and planning in one platform.
Yes. All your income, expenses, investments, and goals are displayed together. You can track progress toward your financial goals while seeing the tax impact of each decision.
Yes. You can track savings targets, investment goals, or personal spending objectives, all integrated with your real tax position.
Absolutely. You see your likely refund or bill as you go, not after lodging, so you can make informed decisions throughout the year.
Yes. Even one PAYG job can have complex tax impacts from deductions, side income, or investments. TaxTank calculates your full position.
Yes. It keeps your transactions organised, categorised, and fully reconciled throughout the year, so lodging your tax is faster and more accurate.
Yes. You can invite your Accountant to the accounting platform for free so you can share everything live throughout the year.
TaxTank’s reports can also be shared with your accountant for lodging, but you still maintain full insight and control year-round.
Most platforms are designed for business accounting or personal finance tracking. Individual tax calculation is complex and requires applying current Australian tax rules to a full financial picture. Other apps either track numbers without calculating tax, calculate business tax only or let you tag items as tax related, which is not a calculation.
TaxTank is built specifically for live Australian individual tax calculation while also integrating personal finance and goals.
No. They track spending or budgets but do not calculate tax, capital gains, offsets, or your overall tax outcome in real time.
No. They calculate company or business tax, not full individual tax under Australian rules. TaxTank is designed specifically for personal tax.
