Why personal tax needed a platform built for individuals

Tax software has long been built for accountants and businesses, while individuals were left with few tools beyond spreadsheets, manual record-keeping, once-a-year lodgement or trying to make it fit with business tax tools. Personal tax was treated as an afterthought.

TaxTank flipped that model on its head. We created Australia’s first personal tax platform built purely for individuals. Our mission is to make tax transparent, accurate, and stress-free all year round, not just at tax time.

What makes TaxTank the most innovative personal tax platform

TaxTank combines smart automation with real-time visibility, helping Australians take control of their finances in ways no other software does.

General Tax Tools in our Personal Tax Platform

• Know exactly how much tax you owe, live all year round
• Track your net worth with live tax and equity forecasts
• Connect bank accounts with live feeds for real-time visibility
• Track your HECS/HELP balance and repayments as part of your live tax position
• Plan smarter with a simple monthly budget tool
• Automate recurring transactions with custom rules
• Access a full suite of live tax reports anytime
• Store receipts and documents securely in the Spare Tank

Personal Tax Platform Features for Property Investors

• Manage all properties in one place, regardless of ownership structure
• Track rental income, expenses, tax, and cash flow in real time
• Monitor performance, including capital growth, yields, and LVR
• Maximise claims with automated depreciation
• Create DIY projects for improvements and renovations
• Automate borrowing expenses for loans and refinancing
• Handle shared ownership claims, including Airbnb and room rentals
• Use a real-time CGT calculator to see the impact of selling
• Get live property values powered by CoreLogic
• Calculate borrowing power with the interactive Net Surplus Ratio report
• Instantly generate property tax reports for your accountant
• Store all property records in a dedicated Spare Tank folder

Personal Tax Platform Tools for Shares & Crypto

• Track shares, crypto, and unlisted assets in one place
• Automatically calculate CGT and carry forward capital losses
• Manage dividends, staking, and interest income
• Create custom tickers for unlisted investments
• Access live CGT reports anytime
• Connect with Sharesight to sync trade history seamlessly

Work Tank: Managing Income & Expenses in One Personal Tax Platform

• See live tax calculations for wages, allowances, and adjustments
• Track trust distributions, partnership income, government payments, and more
• Allocate work-related expenses from live bank feeds
• Keep a compliant home office diary and vehicle logbook
• Manage work-related assets with automated depreciation
• Track vehicle loans and amortisation schedules
• Store all work-related receipts securely in the Spare Tank

Sole Tank: The Personal Tax Platform for Sole Traders

• Manage multiple sole trader businesses under one subscription
• Create and send professional invoices instantly
• Track PSI income, labour hire, and business expenses
• Use automated depreciation and instant asset write-offs
• Manage home office and vehicle expenses with compliant diaries
• Track vehicle loans with amortisation schedules
• Use the non-commercial loss calculator to see if losses offset income
• Access live BAS reporting to handle GST and ATO lodgements
• View real-time business schedules and reports for easy tax prep
• Store all sole trader documents securely in the Spare Tank

Tax Preparation & Support with the Personal Tax Platform

• Access interactive tax reports all year round
• Invite your accountant or advisor anytime for collaboration
• Lodge faster with clean, complete records
• Use the myTax report to self-lodge with confidence

Why TaxTank Won Most Innovative Tax Platform 2025

TaxTank is the only personal tax platform in Australia. While others focus on accountants or businesses, we have built a platform dedicated to individuals, giving everyday Australians the tools, insights, and confidence to manage their tax all year round.

Innovation is about more than features. It is about solving problems others have ignored and making complex systems accessible to everyone. That is exactly what TaxTank does for personal tax.

Looking ahead

Winning this award is a milestone, but it is also just the beginning. We will continue building on our innovation with new integrations, smarter automation, and even more ways to simplify tax for Australians.

Most importantly, we will keep putting control back in your hands, because tax should work for people, not the other way around.

Ready to experience award-winning innovation?

Being named The Most Innovative Tax Platform 2025 is just the beginning. TaxTank is built to make managing personal tax easier, smarter, and more transparent for every Australian.

Start your free trial today and see why TaxTank is the personal tax platform that changes the way you do tax for good.

Free to all accountants, TaxTank enables accounting firms to provide a superior level of service by streamlining the information sharing process to improve efficiency, reduce WIP and deliver faster turnaround times for clients.

It is the ONLY software on the market that gives accountants the chance to offer an unparalleled level of service to their individual clients by monitoring their tax position in real time and intervening when they see a problem or opportunity.

TaxTank allows accounting firms to;

• Make their services an ongoing source of valuable information, not a once-a-year event.
• Monitor clients’ real-time tax throughout the year and easily step in when needed, helping them to plan and make better tax decisions.
• Quickly find historical data, ensure compliance and improve data integrity.
• Access client information directly to reduce turnaround times and WIP.
• Allocate clients to accountants to improve workflow, accountability and monitoring across the firm.
• Chat live with their clients in real time and easily share information for better client collaboration.

“TaxTank has a built-in platform for accounting firms to directly interact with clients and share information to make sure clients are getting it right and claiming every possible deduction,” says founder Nicole Kelly.

“The ATO’s push for automation with tools like MyTax are geared to ensure compliance, not effectiveness, and will ultimately remove accountants from the equation to the detriment of individuals.

“TaxTank has been built specifically to not only empower individual taxpayers but also make sure that accountants continue to play an important role moving forward for the benefit of the community,” says Nicole.

TaxTank is free to all accountants.

Designed and created by Accountants, TaxTank gives the power back to the individual by providing powerful tax tools that make it easy to maximise deductions and minimise tax.

It is the ONLY software on the market that shows individuals their real-time tax position 365 days a year, giving Aussies the ability to make decisions to manage how much tax they pay.

TaxTank allows individuals to;

• Monitor their investment properties, manage depreciation, expenses and property growth forecasts
• Seamlessly manage tax for properties let through accommodation sites like Airbnb and Stayz
• Integrate with live bank feeds to reconcile transactions throughout the year
• Store all of their receipts and important documents to protect them from ATO audits
• Estimate their real-time tax position to make better decisions to reduce tax.
• Invite their accountant, chat live and review their tax position

“Aussies are having to tread through an undeniably complex tax system with rules that keep changing, TaxTank is here to help remove the burden and put the power back into their hands,” says founder Nicole Kelly.

“The ATO is jumping to fill the gap with MyTax; however these services are geared to ensure compliance not effectiveness and completely remove accountants from the equation.

“TaxTank has a built-in platform for accounting firms to directly interact with clients and share information to make sure clients are getting it right and claiming every possible deduction,” Nicole says.

TaxTank is available to individuals as a monthly subscription starting from as little as $6 per month and is completely tax deductible.  TaxTank is free for accountants.