We’re building a better way for Australians to manage tax
Most Australians do not know where they stand with tax until their return is prepared.
TaxTank was created to change that.
TaxTank is Australia’s first automated tax and personal finance software for individuals. It connects your employment income, sole trader activities, investment properties, shares, cryptocurrency, deductions and personal finances to calculate your estimated individual tax position throughout the year.
You can see what has happened, understand what it means for your tax and make more informed financial decisions before tax time.
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Why we built TaxTank
Businesses have had software showing their financial position for decades. Individuals are still expected to manage their finances across banking apps, spreadsheets, investment platforms, receipt folders and disconnected tax calculators.
Even when everything is recorded, most people still cannot see the complete tax outcome.
They may know what they earned, spent or invested, but not what it means for the amount of tax they may owe.
TaxTank was built to close that gap.
It gives everyday Australians year-round visibility over their tax and personal finances rather than leaving them to discover the result after the financial year has ended.
More than a tracker
There are plenty of apps that can show you that you spent $800 on repairs, earned $2,000 from a side business or sold an investment for more than you paid.
That information is useful, but it does not tell you the complete tax outcome.
TaxTank connects your financial records with an Australian individual tax engine.
Depending on the Tanks you use, your live tax position can include:
- Employment income and PAYG withholding
- Work-related expenses and deductions
- Sole trader income, expenses and GST
- Australian and foreign investment properties
- Rental income, loans, depreciation and negative gearing
- Shares, cryptocurrency and capital gains
- Carried-forward capital losses
- Other supported income and individual tax obligations
Each area remains organised separately while contributing to the same calculated individual tax position where applicable.
Most software records what happened. TaxTank helps you understand what it means for your tax.
Australian tax rules come first
Tax is not an area where “close enough” is good enough.
TaxTank’s calculations are driven by structured logic and Australian tax rules. The platform connects the information recorded in your account and applies the supported tax treatment to calculate your estimated individual tax position.
Artificial intelligence is used where it can genuinely make the platform easier to use, including AI-powered chat and onboarding assistance.
AI does not replace the tax engine, invent tax rules or guess your tax outcome.
This allows TaxTank to use new technology to improve the customer experience while keeping tax calculations grounded in defined rules and accurate information.
Our mission
To give Australians the information and tools they need to understand and manage their tax and personal finances throughout the year.
We believe individuals should have the same financial visibility that businesses have long enjoyed.
You should be able to see your estimated position, understand what has affected it and identify missing information before tax time.
Meet our leadership team
Founder & CEO
Nicole is an avid property investor and entrepreneur with a real passion for change that helps everyday Australians. Nicole is a Chartered Professional Accountant (CPA) and a CPA Public Practitioner with an MBA, Masters in Professional Accounting and Diploma in Finance.
Director of Marketing
Irene is an accomplished strategic business, marketing, and customer experience executive with a strong track
record of delivering results. Irene has held senior leadership roles in commercial sales and marketing across various industries and sectors in Australia and the UK.
From an idea to a complete individual tax software
The idea for TaxTank came from a problem Nicole repeatedly saw in practice. People arrived at tax time with scattered records, missing documents and little understanding of how the financial decisions they had made throughout the year would affect the final result.
The original concept was not simply to digitise tax preparation. It was to give people a way to manage their records and understand their tax position before the financial year was over. Following years of research, development and private testing, TaxTank publicly launched in 2021.
The platform has since expanded beyond employment and property tax to include sole trader businesses, shares, cryptocurrency, personal budgeting, secure Open Banking feeds and year-round tax reporting.
Today, TaxTank connects the different parts of an individual’s financial life through one Australian platform, with tax calculations updated as their information changes.
The Idea for TaxTank was Born
It all began with the familiar headache of tax season; lost receipts, complicated forms, and the nagging feeling of missing out on deductions. This collective frustration of accountants and clients sowed the seeds for TaxTank. The founders envisioned a solution that could cut through the complexity of tax preparation, making it not just bearable, but efficient and accurate.
2017
Brainstorming the Vision
During a brainstorming session, sparked by insights (and a little champagne), the team stumbled upon a revelation. They took note of the Australian Taxation Office’s (ATO) insight that most audit issues stem from poor documentation. This led to the whimsical concept of a “Spare Tank”—a digital vault for permanent document storage. The real breakthrough, however, was the idea of simplifying the tax return process into customisable, interactive modules, or “Tanks.” This innovation promised to transform tax preparation from a dreaded annual chore into an intuitive, year-round activity.
2017
Turning Vision into Reality
With the concept clear and ambitions high, the journey to bring TaxTank to life began. Armed with insights from market research and client interactions, the team dove into design and prototyping. It wasn’t all smooth sailing—there were hurdles, missteps, and a lot of lessons learned along the way. But perseverance paid off, and soon, the first iteration of early TaxTank emerged, ready to tackle the tax tangles of the modern world.
2018
Angels Bring Support
The team’s hard work and innovative approach didn’t go unnoticed. Angel investors, captivated by TaxTank’s potential to revolutionise tax preparation, came on board with seed funding. This financial boost was more than just capital; it was a vote of confidence in the vision and future of TaxTank, setting the stage for further development and refinement.
2018
Pandemic Pivots in the Wake of COVID-19
2019
Remote Work Era Begins
2020
MVP Victory
TaxTank triumphed over years of hurdles by achieving a MVP for their core tanks for work and property. This achievement was a testament to the team’s hard work and dedication, setting the stage for private beta testing and promising further innovations in the tax preparation arena. The TaxTank journey through these years showcased a resilient march towards simplifying tax preparation, even amidst global challenges.
2021
Firm and Advisors Platforms Launch
In October, TaxTank rolled out the platforms for Firm and Advisors. Designed to make tax planning a breeze, these platforms offer year-round, instant access to crucial data, making every step from consultation to compliance not just efficient, but surprisingly enjoyable. TaxTank’s latest innovation was reimagining the future of tax management; where tax is simpler, faster, and dare we say fun for everyone involved.
2021
It's Showtime
TaxTank seized the spotlight as we unveiled our inaugural public beta. More than just a debut, it was an open invitation for all to witness the evolution of tax preparation. Energised by this momentum, TaxTank leaped into its first full tax season with a dazzling PR blitz. Our message resonated loud and clear: Bid farewell to the once-a-year tax season drudgery and welcome to a new era where tax is a simple, year-round process to maximise deductions and minimise tax.
2022
Cusom Tax Reports
In September, we rolled out our first suite of custom tax reports, and boy, are they a game-changer! These reports aren’t your run-of-the-mill paperwork, they’re like unlocking a treasure trove of tax insights. From property reports to depreciation schedules, vehicle worksheets, and transaction summaries; think of it as having all the juicy details you usually wait all year for, but now available year-round and right at your fingertips.
2022
Land Portfolio Management
With the ATO’s ever-changing rules keeping us on our toes, inspiration never runs dry. Our latest endeavour? Assisting landowners as we launched our Land Portfolio, meticulously designed to track holding costs from start to finish and securely store vital data. This not only streamlines the process but also ensures minimal CGT implications when the time comes to sell a property.
2023
Sole Trader Tax Made Easy
The moment we’ve all been waiting for has arrived—Sole Tank is now live! With side hustles skyrocketing and compliance requirements on the rise, TaxTank answers the call with the introduction of Sole Tank. More than just a launch, it was a pivotal shift for sole traders everywhere, offering a cost-effective solution to manage their business ventures without the burden of expensive business software. And the best part? No more year-end tax surprises!
2022
Bank Rules and Budgeting
TaxTank kicked off the year with a bang by launching Bank Rules, revolutionising transaction categorisation for recurring transactions. But that’s not all; we also introduced a dynamic budgeting tool, empowering users to take control of their finances with ease.
2023
Shares, Cryptos and Other Assets
TaxTank levelled up with the launch of Holdings Tank; a one-stop solution for tracking shares and cryptos, complete with daily market value updates and real-time CGT reports. Plus, we revamped our onboarding process, making it simpler and more user-friendly for new TaxTankers to get started with any mix of Tank subscriptions.
2023
Open Banking Accreditation
A month of triumphs as TaxTank seamlessly integrated with Open Banking, granting users secure access to real-time financial data from over 160 banks and institutions. To top it off, we unveiled sleek new dashboards, granting users enhanced visibility and control over their financial information.
2023
Property Borrowing Power Calculator
In September, we launched the Property Borrowing Power Calculator! This functionality enables a better understanding of a users available cash, borrowing capacity and even average interest rates to enable well-informed borrowing choices. By simply adding new loan information and any other relevant details, users can calculate their net income surplus and ratio in seconds. This functionality also helps brokers and other advisors to provide informed advice.
2023
Customisable Personal Categories
TaxTank unleashed a nifty surprise in response to user feedback; customisable personal categories! This fun addition turbocharges our budgeting tool, giving users the freedom to jazz up their budget categories to match their unique financial vibe.
2024
Building the future of individual tax
Tax administration has traditionally focused on looking backwards.
Information is collected after the financial year ends, calculations are completed and the result is explained after most of the relevant decisions have already been made.
We believe the future of tax is proactive.
TaxTank is helping build that future, where individuals have the same visibility, automation and confidence that businesses and the ATO already enjoy.
No waiting until tax time to find out where you stand. No rebuilding your financial history from disconnected apps and spreadsheets.
Know where you stand before tax time
TaxTank is Australia’s first ever automated tax and personal finance software that automatically calculates your tax in line with Australian tax legislation.
You don’t need to know tax. You just need TaxTank. It knows the rules, so you don’t have to.