A smarter investment property depreciation calculator

TaxTank’s investment property depreciation calculator helps you calculate and track depreciation without relying on spreadsheets.

Add an existing depreciation schedule, individual assets, renovations or capital works, and TaxTank calculates your depreciation as part of your overall property tax position.

As seen in

Property depreciation without the spreadsheets

Property depreciation can run for decades, so keeping accurate records from one financial year to the next matters.

TaxTank keeps your depreciation with the property it belongs to. Add an existing depreciation schedule, individual assets, renovations or capital works, and TaxTank handles the ongoing calculations for each financial year.

No manually carrying figures forward in spreadsheets or starting your depreciation calculations again each tax year.

And because your depreciation sits alongside your rental income, deductible expenses and other property tax information, you can see how it affects your overall tax position throughout the year.

Set it up once. TaxTank takes care of the ongoing calculations.

What property depreciation can you manage in TaxTank?

TaxTank brings the different parts of your property depreciation together, whether you’re working from an existing quantity surveyor schedule or adding new assets, renovations and improvements as they occur.

One property. One ongoing depreciation record.

Your depreciation stays with your property, with the calculations updated each financial year.

Plant & Equipment

Add depreciating assets and calculate deductions using the applicable depreciation method and effective life.

Building & Capital Works

Calculate and track eligible construction costs, renovations and structural improvements over their applicable deduction period.

Automatic Low Value Pool

TaxTank automatically moves eligible Diminishing Value assets into the Low Value Pool when their depreciated value falls below $1,000 and applies the relevant depreciation treatment from there.

Renovations & Improvements

Add renovations and improvements to the property and calculate their applicable deductions over future financial years.

Existing Depreciation Schedules

Already have a quantity surveyor’s schedule? Add it to TaxTank and continue calculating and tracking the depreciation from there.

Custom Depreciation Items

Add depreciation items that don’t fit the standard categories while keeping them with the relevant property.

How TaxTank's investment property depreciation calculator works

Once your property is set up in TaxTank, managing your ongoing depreciation is simple.

No starting over each tax year. Your depreciation stays with your property, helping keep your records and tax calculations up to date.

Built around Australian property tax rules

Property depreciation involves different methods, thresholds and treatments depending on the asset. TaxTank has Australian tax rules built into its calculations, so you don’t have to keep track of every detail yourself.

For plant and equipment, TaxTank includes ATO useful-life categories and supports both Diminishing Value and Prime Cost depreciation methods.

It also manages the ongoing treatment of depreciating assets. When an eligible asset falls below $1,000, TaxTank automatically moves it into the Low Value Pool and applies the relevant depreciation calculations from there.

For capital works, renovations and improvements, TaxTank calculates the applicable deductions and maintains the schedule across future financial years.

You don’t need to keep track of all the depreciation rules yourself. TaxTank applies them in the background.

A typical property depreciation setup vs TaxTank

More than an investment property depreciation calculator. TaxTank brings depreciation, rental income, deductible expenses and property tax calculations together, giving you a much clearer picture than a standalone depreciation figure.

Depreciation schedule kept separately from your other property records
Figures manually carried forward each financial year
Assets and improvements tracked across spreadsheets or separate records
You need to keep track of depreciation methods and asset treatment
You need to monitor when eligible assets fall into the Low Value Pool
Rental income and expenses managed separately from depreciation
Depreciation gives you one part of the tax picture
CGT records may be maintained separately again
Multiple properties mean multiple sets of records to maintain

Depreciation stays connected to the investment property
Depreciation calculations carry forward year after year
Assets, renovations, improvements and capital works managed in one place
TaxTank applies the relevant depreciation calculations in the background
TaxTank automatically moves eligible assets into the Low Value Pool below $1,000
Income, expenses and depreciation are managed together
Depreciation contributes to your overall calculated property tax position
Property records also feed into TaxTank’s CGT calculations
Each property has its own ongoing tax and depreciation records

You don’t need another property spreadsheet. You need the full picture.

Your depreciation is only one part of owning an investment property.

TaxTank brings depreciation, rental income, deductible expenses, tax calculations and property performance together, so you can understand where your property stands throughout the year.

From the deductions you claim today to CGT when you eventually sell, your property records stay together in one place.

Property tax software that pays attention to the details

Property Tank starts from just $15 per month, paid annually, giving Australian property investors one place to manage depreciation, rental income, expenses, CGT and their calculated property tax position.

Instead of maintaining separate spreadsheets, depreciation records and property tax calculations, TaxTank keeps everything together for each property, with Australian tax rules built in.

PROPERTY TANK

Simply add Property Tank so you can monitor your whole property portfolio in one place. You can manage up to 5 properties for only $15* a month.

$15/month

Paid Annually

ADDITIONAL

PROPERTIES

Have more than 5 properties? No problem, you can add as many as you like with our property add-on.

$3/month

Paid Annually

See why Australians choose TaxTank for real-time tax calculations and management

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

Frequently asked questions

Does TaxTank create a depreciation schedule?

TaxTank can create and calculate depreciation schedules for capital works, renovations and improvements you add to your property. It can also calculate and track depreciation for individual depreciating assets.

Already have a depreciation schedule from a quantity surveyor? You can add it to TaxTank and continue calculating and managing the depreciation from there.

TaxTank doesn’t replace a quantity surveyor where a professional property depreciation assessment is required.

What does TaxTank’s investment property depreciation calculator include?

TaxTank’s investment property depreciation calculator helps you calculate and manage plant and equipment, capital works, renovations and improvements, Low Value Pool assets and custom depreciation items. You can also add an existing quantity surveyor depreciation schedule and continue managing the calculations within TaxTank.

Can I use TaxTank’s investment property depreciation calculator for multiple properties?

Yes. You can manage depreciation separately for each investment property in Property Tank, alongside the property’s rental income, expenses and tax calculations.

Does TaxTank's investment property depreciation calculator calculate capital works?

Yes. TaxTank calculates depreciation schedules for eligible capital works, renovations and improvements and carries the calculations across future financial years.

Does TaxTank calculate investment property depreciation every financial year?

Yes. Once your depreciation details are set up, TaxTank calculates the applicable depreciation for each financial year, so you don’t need to manually carry the figures forward in spreadsheets.

Can I use an existing quantity surveyor schedule with the investment property depreciation calculator?

Yes. If you already have a depreciation schedule, you can add it to TaxTank and continue calculating and tracking the depreciation for the property.

What types of property depreciation can TaxTank manage?

TaxTank can manage plant and equipment, building and capital works, renovations and improvements, Low Value Pool assets and custom depreciation items.

Does TaxTank calculate depreciation automatically each year?

Yes. Once your depreciation information is set up, TaxTank carries the calculations forward into future financial years, so you don’t need to start again each tax year.

Does TaxTank support different depreciation methods?

Yes. TaxTank calculates and tracks property depreciation, capital works deductions and replacement assets across your investment portfolio.

You can add assets directly from your quantity surveyor’s depreciation schedule, record renovations and improvements, and track replacement assets purchased over time. TaxTank automatically applies the appropriate tax treatment and calculates the deductions available each year.

What happens when an asset falls below $1,000?

For eligible assets, TaxTank automatically moves the asset into the Low Value Pool when its depreciated value falls below $1,000 and continues calculating the applicable depreciation.

Is TaxTank only an investment property depreciation calculator?

No. Depreciation is just one part of Property Tank. You can also manage rental income, deductible expenses, borrowing expenses and property records, while TaxTank calculates your property tax position and keeps the information needed for CGT connected to the property.

Can I manage more than one investment property?

Yes. You can add multiple investment properties to Property Tank and manage the income, expenses, depreciation and tax records for each property separately.