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Effortlessly manage your income tax to maximise deductions

TaxTank empowers you with smart income tax management tools so you can take control of your finances.  Now you can efficiently handle your work-related income and expenses, ensuring you make the most of every possible tax deduction.

Work Tank dashboard showing income tax forecasts and actuals, with logbooks, home office diary
Work Tank dashboard showing income tax forecasts and actuals, with logbooks, home office diary

Hassle free income tax preparation

Worried about minimising your income tax, even if numbers aren’t your forte? TaxTank simplifies the process so you can manage your work-related income, expenses, vehicle kilometers, logbooks, and loans all in one convenient hub.

As you reconcile your income and expenses from your bank feeds, you can closely monitor your actual income tax position in real-time.

Our tax summary consolidates all your financial data, providing a clear view of how different income and expense types impact your income tax liability.

Work Tank tab showing expenses and income tax deductions
Work Tank tab showing income forecasts for each financial year

Minimise income tax with live bank feeds

Feel confident knowing all your income and expenses have been taken into account, so you can easily manage your income tax and get everything you’re entitled to.

The Work Tank feature automatically pulls data from your bank feeds in real-time, leaving no room for missed, lost, or forgotten transactions.

Simple vehicle expense claims

TaxTank makes it easy to manage your work vehicle expenses. Record travel in your logbook and let Work Tank update your expenses and claims automatically.

TaxTank will show you which claim method is most tax efficient for you based on your activity.

You can relax knowing you’re claiming the right way, that your records are safe and you’re complying with the ATO.

Work Tank tab showing vehicle expense claims using TaxTank's vehicle logbook
Sole trader tax summary showing you how much tax you'll have to pay

Stay ahead of income tax all year round

Don’t wait until the end of the financial year to find out your tax bill. TaxTank provides real-time insights into your estimated tax position throughout the year, allowing for proactive tax planning.

Armed with a clear understanding of your income tax obligations, you can make informed decisions to minimise your tax liability.

Effortlessly manage your income tax

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Save time

Simplify tax preparation with all your information neatly organised in one user-friendly dashboard.

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Home office hours

Record the time you spend in your home office to ensure every hour is accounted for.

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Safe storage

Attach receipts to transactions for a secure online record that’s stored as long as you need it.

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Interactive reports

Know where you stand with easy-to-read reports that estimate your real-time income tax position.

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Automatic forecasts

Get a snapshot of your current tax position in minutes, along with projections for year-end tax planning.

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Easy collaboration

Invite your accountant to view your files and chat live, eliminating paperwork and communication hassles.

Free Tax Tools

We understand how hard it is to keep track of everything, so we’ve put together a few tax templates to get started.

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Vehicle Logbook

This template automatically calculates the distance & business use percentage to ensure you claim correctly.

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Home Office Diary

The home office diary will help you make sure you claim every deduction related to working from home.

Frequently asked questions

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. 

Not at all, that’s why we have come 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. We also have a bunch of support videos and articles available should you need help with anything.

Yes, you can claim deductions for home office expenses if you meet certain criteria. You can either claim your actual expenses by allocating from live banks feeds or you can use the revised fixed-rate method and keep a logbook of your hours in TaxTank.

You can’t directly lodge with TaxTank, however, you can either export the myTax report and lodge directly yourself or you can use our virtual accountant’s to review and lodge your tax return on your behalf.

We partner with Basiq, one of Australia’s largest providers of Open Banking, so we now have access to over 180+ banks. As more come onboard with the Open Banking protocols, they will automatically get added to TaxTank.

It only takes a few minutes to get your bank feeds set up. It may take a few minutes extra to add in your forecasted incomes, however we have tried to make it as easy as possible with simple to follow checklist. 

Don’t miss out on income tax opportunities.

Maximise your tax savings with TaxTank. Start your free 14-day trial today and gain confidence in your income tax position while transforming your perception of taxes.