Employed and Self-Employed Tax Calculator

Calculate tax across employed and self-employed income in one place.

If you earn income from a PAYG job and also operate as a sole trader, freelancer, contractor or side business owner, understanding how much tax you may owe can be difficult.

TaxTank combines employment income, business income, deductions and expenses to give you a live view of your calculated tax position throughout the year.

Most tax calculators only tell half the story

Most tax calculators estimate tax based on a single income source.

But if you have a PAYG job and earn additional income through freelancing, contracting, consulting or a side business, your tax is calculated on your total taxable income.

That’s where things become difficult.

A calculator may estimate tax on your salary.

Another calculator may estimate tax on your business income.

Neither shows how the two work together.

TaxTank combines both income sources so you can understand your overall tax position year-round.

Most people don’t need more bookkeeping.

They need better visibility.

As seen in

Stop guessing what you'll owe at tax time

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 calculation 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.

Separate calculators
Multiple spreadsheets
Manual calculations
Separate salary and side hustle records
End-of-year surprises
Transaction tracking
Guessing deductions

One live tax position
One platform
Automated calculations
ATO-aligned tax treatment
Updated tax estimates
Tax tracking
Structured deduction tracking

You don't need a spreadsheet or bookkeeping software to manage your employed and self-employed tax

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

TaxTank helps Australians manage side hustle and PAYG 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 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

How do I calculate tax on PAYG and self-employed income?

To calculate tax accurately, you need to combine your employment income, self-employed income and eligible deductions. TaxTank automatically tracks both income sources and estimates your overall tax throughout the year.

Do I pay more tax if I'm employed and self-employed?

Not necessarily. Your total tax depends on your combined taxable income and any deductions you can claim. TaxTank helps you understand how additional self-employed income affects your overall tax position.

Can I have a PAYG job and be self-employed?

Yes. Many Australians work as employees while also earning income through freelancing, consulting, contracting or running a side business. TaxTank is designed to help you manage both income sources together.

Can I claim deductions from both my job and my self-employed work?

Yes. If you meet the ATO eligibility rules, you may be able to claim deductions related to both your employment and self-employed activities. TaxTank helps you track deductions across both income sources.

Can I use TaxTank if I have a PAYG job and an ABN?

Yes. TaxTank is designed to help Australians understand their overall tax position across employment income and self-employment income.

How is this different from a tax calculator?

Most calculators provide a one-off estimate. TaxTank continuously updates your tax position as income, expenses and deductions change throughout the year.

Can I track deductions from both income sources?

Yes. TaxTank allows you to track deductions related to employment income and sole trader 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 use TaxTank for freelance or side hustle income?

Yes. TaxTank is commonly used by freelancers, contractors, consultants, creators and Australians earning additional income outside their regular employment.

Can I calculate tax if I'm employed and self-employed?

Yes. If you earn income from both employment and self-employment, your tax is calculated on your total taxable income. TaxTank combines both income sources to estimate your overall tax position in real time.

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.