Xero and MYOB are for business. TaxTank is power for the people – we are all about individual taxpayers!
It is sure is, your security has been our #1 priority from the start! So much so we even created a video on it just for you, watch it here
If you’re talking about our built in smart tools, yes! If you’re talking about document retention, yes! If you’re talking about data integrity, yes! We take the rules and make them simple.
OMG no, the sooner the better! If you start later in the tax year you can easily import earlier bank account transaction to ensure nothing is missed.
Some early adopters out there may be quicker, but for us novices probably 10 minutes. Then give yourself an additional 10 minutes per property. A little bit of work straight up, but trust us – it’s totally worth it!
You bet ya, we have a plethora of Product Tours, webinars, tutorials. Don’t worry, we have thought of everything.
Currently we have a CGT calculator for when you sell a property. When we release Holdings Tank, you will be able to manage CGT for Shares and Crypto.
Not at all, that’s why we have come to the rescue. Tax has always been so boring and convoluted, we have broken it down into cool software that is super easy to follow and understand. If you can log into your internet banking, you can use TaxTank. But after using it you will be an expert – maybe you could teach your accountant a thing or two?
You guys ask such smart questions! We are so close to having this as an automatic process, but atm it will be a manual one. Promise it won’t be long.
Absolutely! You simply select your residency for tax purposes when you onboard so tax calculates correctly.
TaxTank gives the power to the people! It also gives power to accountants to provide real time advice, instant access to client information and faster turn around times – win win win. The choice is yours!
Not yet, but we are trying! The ATO don’t want to play with us right now, but they will..
Yes! Each user needs their own account to invite and accept property co-owner invitations. No duplicate entry – awesome!
Well invite them! If your accountant doesn’t already use TaxTank we will send them an invitation to let them know you’re waiting!
Yes! The rules say expenses relating to preparing and lodging your tax return and activity statements include the costs of purchasing software to allow the completion and lodgment of your tax return. You must apportion the cost of the software if you also used it for other purposes.
Absolutely add your home! TaxTank lets you monitor all of your properties, including your home and trusts so you can track performance and make informed decisions. You can compare market values, growth predictions, cashflow, etc etc… So, back to your original question, yes definitely add your home.
Yes, you can! TaxTank lets you setup portfolio’s that don’t impact tax (like Trusts, SMSF’s & your own home).
There are no limits on storage and its fee up to 2 GB. ATO audit team eat you’re heart out..
We partner with Basiq to access to over 21,000 global financial sources. It doesn’t have the BOMD (Bank of Mum and Dad) but should have most other banks… If not though let our team know so we can sort it out.
You can most certainly add documents from years ago, but TaxTank officially starts from the 2020-21 financial year. Gotta start somewhere right!
Tricky! You will only be able to feed bank accounts available to you. In this situation your property co-owner might need to authorise you to the account, or setup the property and invite you.
Awesomely, thanks for asking! By answering a few simple questions TaxTank works out your percentage of claim which auto applies to property expenses and eliminates mistakes. If things change you simply update your answers – we have totally got you covered!