The best alternative to PocketSmith for Australians

PocketSmith is well-established personal finance software with detailed budgeting, cash flow forecasting and multi-currency features.

But forecasting your bank balance is not the same as calculating your tax.

TaxTank connects your personal finances, employment income, sole trader activities, investment properties, shares and cryptocurrency with an Australian individual tax engine that automatically calculates your tax position throughout the year.

Both platforms help you understand your money. Only TaxTank shows what it means for your Australian tax.

TaxTank or PocketSmith: the short answer

If you’re looking for an alternative to Pocketsmith then here’s a quick breakdown.

PocketSmith is a strong choice if detailed, decades-long cash flow forecasting is your main priority.

TaxTank is the better alternative to PocketSmith for Australians who want to manage their money while automatically calculating their individual tax across employment, business, property and investments.

PocketSmith shows where your money has gone and forecasts where it may go next. TaxTank shows where your money has gone, where you stand financially and what it means for your tax.

As seen in

TaxTank vs PocketSmith at a glance

The most important question when looking for an alternative to PocketSmith is not which platform has the longest feature list.

It is what you want the software to help you understand.

Personal budgeting
Australian bank feeds
Bills and financial goals
Multi-currency accounts
Cash flow forecasting
Net worth visibility
Australian individual tax calculation
Employment income and deductions
Sole trader records, GST and BAS
Property tax and depreciation
Shares, crypto and CGT

Yes
Yes
Yes
Yes
Basic planning
Yes
Yes, built on Australian tax rules
Dedicated Work Tank
Dedicated Sole Tank
Dedicated Property Tank
Dedicated Holdings Tank

Yes
Yes
Yes
Yes
Detailed forecasts
Yes
No dedicated calculation
General transaction tracking
General transaction tracking
General transaction tracking
General investment tracking

TaxTank does more than collect income and expenses. Explore all of TaxTank’s tax software features and see how they help you manage your tax and personal finance together.

This comparison was reviewed in August 2026 using publicly available product information. Features and pricing may change.

PocketSmith is built for detailed financial forecasting

PocketSmith is a strong option for people who want to build detailed budgets, model different scenarios and forecast their bank balances years into the future.

It brings accounts, transactions, assets and liabilities into one place, with flexible categorisation, custom dashboards, calendar-based budgeting and multi-currency reporting. Depending on the plan, forecasts can extend from 10 to 60 years.

That depth makes PocketSmith particularly useful when long-term cash flow modelling is the main goal.

TaxTank includes budgeting, bills, financial goals, bank feeds and broader financial visibility, but it does not try to match PocketSmith’s decades-long forecasting. Its main difference is connecting personal finances with Australian individual tax.

TaxTank connects your money with live Australian tax calculations

A transaction does not tell you what it means for tax.

A payment could be personal spending, a work-related deduction, a sole trader expense, an investment property repair or the purchase of a depreciating asset.

PocketSmith can categorise that transaction and include it in your budget and cash flow reports.

TaxTank goes further. It allocates the transaction to the relevant part of your financial life, applies the appropriate Australian tax treatment and automatically updates your live individual tax position.

Your salary and PAYG withholding, business profit or loss, property income and deductions, depreciation, capital gains, investment income and other tax information are calculated together.

This is the real difference between the two platforms.

PocketSmith forecasts your money.

TaxTank calculates what your money means for your tax.

Manage your money, know your tax and stay in control

TaxTank gives you the tools to manage your personal finances and understand your complete tax position in the one connected platform.

More than a budgeting app that connects your complete financial life

TaxTank is modular, so you only subscribe to the parts that match your circumstances.

Each Tank connects to the same live individual tax position. Add or remove Tanks as your circumstances change without separating your tax, investments and personal finances across different platforms.

This is particularly useful if you are employed but also run a side business, own investment properties or invest in shares and cryptocurrency. TaxTank calculates everything together because that is how your individual tax position actually works.

Money Tank

Create budgets, organise personal spending, monitor bills and payments and track savings, debt, equity and LVR goals.

Property Tank

Manage Australian and foreign investment properties, rental income, deductions, loans, depreciation, negative gearing and CGT.

Sole Tank

Manage Australian and foreign sole trader income, expenses, invoices, GST, BAS information, assets, loans and business deductions.

Work Tank

Manage all employment income, PAYG withholding, work-related deductions, home office records, vehicle expenses and HELP repayments.

Holdings Tank

Manage Australian and foreign shares, cryptocurrency, investment income, and all assets with automated CGT calculations.

Instead of managing your personal finances separately, you can see how everything works together and what it means for your tax.

Multi-currency accounts in TaxTank and PocketSmith

Both platforms support accounts held in different currencies.

PocketSmith consolidates foreign accounts, assets, debts, budgets and reports into a selected base currency. This makes it particularly useful for viewing finances and net worth across multiple countries.

TaxTank records each account in its original currency and automatically converts its transactions and balances to Australian dollars. Relevant foreign income and expenses then flow into your Australian tax calculations and reports.

Foreign currency accounts can be added through an available live bank feed or manually. The difference is not whether both platforms convert currencies. It is what happens after that conversion.

PocketSmith uses the converted information to show your consolidated finances and net worth. TaxTank also calculates what that foreign financial activity means for your Australian tax.

Compare the cost of managing your money

Money Tank costs $72 per year, equivalent to $6 per month paid annually. PocketSmith’s paid plans currently range from $9.99 to $26.66 per month when billed annually, with higher plans offering more connected banks, dashboards and longer cash flow forecasts.

If you want TaxTank to calculate your Australian tax across employment, business, properties or investments, simply add the relevant Tanks. You only pay for the parts of your financial life you need.

PROPERTY TANK

Manage property income and expenses

$15/month*

WORK TANK

Manage work income and expenses

$9/month*

SOLE TANK

Manage sole trader income and expenses

$9/month*

MONEY TANK

Manage budgets, cash flow and financial goals

$6/month*

HOLDINGS TANK

Manage CGT for shares, crypto and other assets

$6/month*

SPARE TANK

Upload important documents and receipts

FREE WITH ANY PAID TANK

Can TaxTank replace PocketSmith?

For some Australians, yes.

If you mainly use PocketSmith to connect accounts, categorise transactions, create budgets, monitor bills, set financial goals and track your overall position, Money Tank provides the core personal finance features you need. You can then add other Tanks as your circumstances change.

PocketSmith may remain the better fit if advanced scenario modelling and long-range cash flow projections are essential to you.

The choice comes down to what you want the software to do.

If you want highly detailed, decades-long cash flow forecasts, choose PocketSmith.

If you want to manage your money, property, business and investments while automatically calculating your Australian individual tax, choose TaxTank.

See why Australians use TaxTank

TaxTank helps Australians replace spreadsheets, scattered receipts and disconnected financial apps with one clear view of their tax and personal finance.

Rated 5 out of 5

“I have been using TaxTank for over a year now to manage our property portfolio. We now proactively manage our income and expenses using the live bank feed allocations in TaxTank so there is little hands-on time needed from me.

It's literally about 10 minutes a week to allocate transactions and I'm on top of my paperwork which means no more spreadsheets or tax time stress.”

Tammy Van Diest

“Using TaxTank has ensured we have reduced costs and effort at the end of financial year, minimised tax paid as we can now track all expenses and income in one single system and peace of mind knowing we can find everything in one secure place.”

Amanda Thomas

“Ever since I've been using TaxTank, it has made life so much easier. I can't say more than this amazing feature of live bank feeds. It is amazing and a game changer! This has made almost the near impossible of recording all bank transactions now very possible. Another feature I enjoy using is the forward outlook on the depreciation of a property once the initial inputs are stored. It has been an enjoyable and pleasurable experience using TaxTank. Highly recommend.”

Terence Wee

“TaxTank has provided me with a better insight to my portfolio from my expenses management, income and the expected tax return at the end of the financial year ”

George Jimmy Winaulin

“TaxTank can integrate with my accountant, manage multiple property assets, input and manage depreciation schedules, manage vehicle logbook entries, provide tax forecasting for the financial year, connect to my Australian bank account with automatic bank feeds, generate useful reports, and upload documents. I would highly recommend TaxTank to anyone looking for a comprehensive and easy-to-use personal finance software package.”

Stratos Patsikatheodorou

“Anyone who has an income and especially anyone with investment properties will find TaxTank an effective, reliable and convenient tool to use.”

Peter Cullen

Read our reviews on Google

Frequently asked questions

Is TaxTank an Australian alternative to PocketSmith?

Yes. TaxTank is the best alternative to PocketSmith in Australia if you want to manage both your tax and personal finance together.

TaxTank combines budgeting and money management with employment, sole trader, property and investment tools, then automatically calculates everything in one live individual tax position.

Is PocketSmith Australian?

PocketSmith is based in New Zealand but supports Australian customers, Australian bank connections and billing in Australian dollars. TaxTank is made in Australia using Australian tax rules.

Does TaxTank offer budgeting and bank feeds?

Yes. Money Tank lets you connect supported bank accounts, categorise transactions, create budgets, manage bills, set financial goals and monitor your broader financial position.

Does TaxTank support foreign currencies?

Yes. TaxTank supports accounts held in different currencies and automatically converts transactions and balances to Australian dollars while retaining the account’s original currency.

Does TaxTank offer cash flow forecasting?

TaxTank includes budgeting, financial goals and tools for monitoring your financial position. PocketSmith provides more extensive long-term forecasting and what-if scenario modelling.

Does TaxTank calculate Australian tax?

TaxTank is the only software in Australia that automatically calculates your live individual tax position.

You can use the tax reports to help you self-lodge through myTax or share it with your accountant.

Take control of your tax and personal finance today

TaxTank gives you the tools to manage your personal finance, understand your complete tax position and make informed decisions throughout the year.