Side hustle income is easy, but side hustle tax isn't

Whether you’re selling on eBay, creating content, freelancing, driving for Uber or earning extra income online, working out how much tax you actually owe can be surprisingly difficult.

TaxTank gives Australians a live, ATO-aligned view of their side hustle income, deductions and tax position, helping you avoid surprises and stay in control throughout the year.

Most side hustlers start with a spreadsheet

And for a while, it works.

You record a few sales.

Track some expenses.

Maybe put money aside for tax when you remember.

The challenge is that side hustle tax isn’t calculated in isolation.

Your side hustle income affects your overall tax position, which also includes your salary, investment income, deductions and other sources of income.

That means a spreadsheet may tell you how much you’ve earned, but it won’t necessarily tell you how much tax you’ll owe.

Questions start popping up:

Most people don’t need more bookkeeping.

They need better visibility.

As seen in

Stop guessing your side hustle tax

TaxTank is built differently.

Instead of simply recording income and expenses, TaxTank applies Australian tax rules in real time to show the impact your side hustle is having on your overall tax position.

As income comes in and expenses are recorded, your tax estimate updates automatically.

So you’re not waiting until tax time to find out where you stand.

What changes when sole traders switch to TaxTank

Real-time tax tracking

See how much tax you’re likely to owe as you earn, not months later.

PAYG and side hustle income together

TaxTank combines your employment income and side hustle income into one tax outcome.

Track deductible expenses

Keep track of deductions and understand how they impact your tax position.

Stay current with tax rules

TaxTank is continually updated to reflect Australian tax legislation and ATO requirements.

Connected bank feeds

Automatically import transactions and reduce manual data entry.

Know where you stand

Understand your profit, deductions and estimated tax position throughout the year.

Your side hustle grows and your tax gets more complicated

One of the biggest mistakes side hustlers make is assuming they can simply put aside a percentage of income and everything will work itself out at tax time.

In reality, your tax position is influenced by your salary, side hustle income, deductions, offsets and other sources of income.

As your income grows, so does the complexity.

TaxTank continuously updates your tax position throughout the year, helping you make decisions based on real numbers instead of guesswork.

Most software tracks income, TaxTank tracks the tax outcome

A clean dashboard doesn’t mean your tax is right.

Most tools stop at tracking activity.

TaxTank does the heavy lifting behind the scenes so your tax outcome is correct from day one.

Spreadsheet
Income and expense tracking
Manual calculations
Separate salary and side hustle records
Tax estimated at year end
Static formulas
Guesswork

Real-time tax tracking
PAYG and side hustle income together
Automated calculations
ATO-aligned tax treatment
Updated tax estimates
Current tax rules
Greater visibility

You don't need another spreadsheet or bookkeeping software.

You need to know how much tax you’re going to owe.

TaxTank helps Australians manage side hustle income, deductions and tax in real time, helping eliminate surprises at tax time.

It's easy to get started!

Getting started with TaxTank is simple and affordable.

For just $9/month, you get access to the best sole trader tax software that lets you manage your sole trader income and tax.

SOLE TANK

Simply add Sole Tank so you can manage your sole trader tax in one simple platform.

$9/month

Paid Annually

What people say about Australia’s first purpose built side hustle tax software that calculates individual tax in real time

Rated 5 out of 5

“I recently joined Tax Tank, I have two small businesses and Tax Tank is affordable and easy to use once you learn the basics. The online support has been phenomenal, thank you Nicole. Everything was explained to me in an easy to understand manner. Any problems that have come up, usually my errors, the team helped me sort them out quickly and efficiently. Tax Tank has a great invoicing system and I can easily upload all my receipts for purchases and don’t have to keep photocopying and storing receipts anymore. I highly recommend giving Tax Tank ago.”

Sharon Anning

“Tax Tank has given me confidence to run my small business with ease and transparency. The incredible women who run this business have been absolutely amazing to work with and are friendly, professional and go above and beyond. Its a breeze to navigate and thats coming from someone who's genius zone is with people not on computers. I recommend them to everyone, they have seriously turned working for myself into a dream. The freedom and empowerment I've gained, now managing and thriving in my business is all thanks to Tax Tank. The ability to manage everything in one place creates ease and takes all the confusion out of something that has caused me fear and anxiety in the past. Hats off to the creators of Tax Tank, outstanding business and service!! If you aren't already all over Tax Tank for your business then you need to get onboard! Thank you, thank you, thank you!!”

Bianca Young

“I switched from using Hnry as I was sick of not being able to get support for days at a time and I found it an uphill battle to get all of my expense claims through. Especially the ones that I thought were obvious as a sole trader. I like that I can allocate my income and expenses and keep an eye on how much tax I need to put aside. Now I can earn interest on that money instead of paying it to the ATO early.”

Susa Åua

Read our reviews on Google

Frequently asked questions

What is side hustle tax software?

Side hustle tax software helps individuals track income, expenses and tax obligations related to freelance work, content creation, online selling, gig economy work and other secondary income streams.

Can TaxTank track both my salary and side hustle income?

Yes. TaxTank combines your PAYG employment income and side hustle income into a single tax position, giving you a more accurate estimate of your overall tax outcome.

What side hustles can I use TaxTank for?

TaxTank can be used for freelance work, consulting, content creation, online selling, eBay stores, Etsy stores, Uber driving, Airbnb hosting and many other side income activities.

Does TaxTank calculate how much tax I owe?

TaxTank provides a real-time calculation of your tax position based on your income, deductions and current Australian tax rules.

Can I track side hustle tax deductions?

Yes. TaxTank helps you track deductible expenses and understand how they affect your tax position throughout the year.

Is TaxTank updated for Australian tax rules?

Yes. TaxTank is continually updated to reflect Australian tax legislation and ATO requirements.

Don’t miss out on tax opportunities.

Try TaxTank for a free 14 day trial to feel confident about your tax position and transform the way you think about tax.