Alternative to TaxTank – How we compare to other apps

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.

Yes. TaxTank brings together supported bank accounts, loans, property values, investments, income, expenses and financial goals so you can monitor your broader financial position.

Depending on the Tanks you use, you can see your net worth, property equity, portfolio performance, cash flow and estimated individual tax position through the same account.

Yes. Money Tank helps you monitor bills, subscriptions and other recurring expenses alongside your everyday spending and budgets.

Recurring events can be added so you can keep track of upcoming commitments and understand how they affect your cash flow and financial goals.

No. Holdings Tank can be used independently to track unlimited supported shares, ETFs, cryptocurrency and custom assets.

It records investment transactions, income and expenses while calculating supported capital gains, capital losses and carried-forward losses. Sharesight is available as an optional integration if you already use it and want to import supported investment history.

Yes. Holdings Tank supports cryptocurrency purchases, sales and swaps, along with supported staking income and other crypto activity.

TaxTank calculates supported capital gains and losses using the transaction history recorded or imported into your account and includes applicable results in your estimated individual tax position.

Yes. You can add a supported foreign-currency bank account in its original currency using live bank feeds where available.

If a live connection is not available, you can create the account manually and import its transactions. TaxTank keeps the account in its original currency while automatically converting supported transactions and balances to Australian dollars for reporting and tax calculations.

Yes. TaxTank can import transactions automatically through secure Open Banking and use supported allocation rules to reduce repetitive transaction coding.

Allocated income and expenses flow into the relevant areas of TaxTank and can contribute to reports, budgets, property records, business records and your estimated individual tax position.

Yes. TaxTank includes AI-powered chat and onboarding assistance to help customers understand and use the platform.

Tax calculations are not generated or guessed by AI. They are calculated using TaxTank’s structured Australian tax engine and the information recorded or allocated within the customer’s account.