Personal accounting software for Australians who want the full picture
Your financial life is bigger than a budget and more complicated than a list of transactions.
TaxTank is personal accounting software built specifically for Australian individuals. It brings your income, expenses, tax, properties, sole trader activity and investments together, giving you one place to manage your complete financial position.
Unlike traditional accounting software designed for businesses, TaxTank applies Australian individual tax rules and calculations in the background. As your financial information changes, so does your calculated tax position.
- No Credit Card Required
- Built for Australian taxpayers
As seen in
Personal accounting software designed around you
Most accounting software is designed to manage a business.
It focuses on invoices, payroll, inventory, charts of accounts and financial statements. Those features are important for companies, but they do not reflect the way an individual’s tax and finances come together.
Your salary, PAYG withholding, deductions, side income, rental properties, shares, cryptocurrency and capital gains can all contribute to one individual tax position.
TaxTank is personal accounting software Australia can use to bring those different areas together. It helps you:
- Organise income and expenses
- Connect eligible Australian bank accounts
- Track tax-deductible transactions
- Manage personal and sole trader finances
- Monitor property and investment activity
- Calculate your live tax position throughout the year
- Store receipts and supporting documents
- Prepare more complete information for your accountant or myTax
Your finances shouldn’t be spread across five different apps
Your salary may be recorded in one place. Your budget sits in a spreadsheet. Property expenses are buried in bank statements. Investment records are stored somewhere else, and your receipts only appear when tax time arrives.
Each system may show one part of your financial life, but none shows how those parts work together.
TaxTank connects your personal accounting, tax and financial information in one platform. This gives you a clearer view of where your money is going, how your assets are performing and how your financial activity may affect your tax position.
Instead of trying to reconstruct everything after the financial year ends, you can keep your records organised as your financial life changes.
Manage more of your financial life in one place
TaxTank is Australia’s only personal accounting software that tracks your real-time tax position all year round. Simply choose the parts of TaxTank that match your needs today, then add others when your circumstances change.
Investment properties
Manage rental income, expenses, loans, depreciation, borrowing costs, renovations and ownership details for each property.
Track property cash flow, equity, growth and performance while TaxTank calculates how your investment properties may affect your overall tax position.
Sole trader finances
Track sole trader income and expenses alongside your personal tax information.
Manage invoices, GST, BAS information, PSI, business assets, non-commercial losses and multiple sole trader activities without treating your business as though it belongs to a separate taxpayer.
Employment income & deductions
Track salary, PAYG withholding, allowances, work-related expenses and other employment income.
Manage working-from-home expenses, vehicle use and depreciating work assets while seeing how eligible deductions may affect your estimated tax position.
Shares and cryptocurrency
Record share, cryptocurrency and other investment transactions while TaxTank uses FIFO calculations to estimate capital gains and losses.
Track investment income and carried-forward capital losses without separating them from the rest of your individual tax position.
Budgets and financial goals
Create personal, work, property and business budgets using information from your connected accounts.
Monitor spending, cash flow and savings goals while keeping your everyday finances connected to your broader tax and investment position.
Personal accounting software that does more than record what happened
Recording a transaction is only the first step.
An expense may be immediately deductible, partly deductible, depreciated over several years or added to the cost base of an asset. A rental property loss may affect taxable income, while the sale of a property, share or cryptocurrency asset may create a capital gain.
Traditional accounting software records the amount. TaxTank helps calculate what that amount could mean for your individual tax position.
Live individual tax calculations
See your estimated tax position update as your income, expenses, deductions and investments change throughout the financial year.
Australian tax rules
TaxTank automatically applies the relevant Australian rates, thresholds and calculations for each supported financial year.
Personal income and expenses
Categorise transactions using labels that align with the way information is organised for an Australian individual tax return.
Deductions, depreciation & CGT
Track work expenses, home office claims, vehicle use, business assets, property depreciation and other eligible deductions.
Property and investment calculations
Manage negative gearing, ownership percentages, borrowing expenses, capital improvements and estimated capital gains.
Reports for tax time
Generate reports that organise the information needed by your accountant or help you prepare to self-lodge through myTax.
Connect your personal accounts using Open Banking
Connect eligible Australian bank and financial accounts through secure Open Banking feeds.
Transactions can flow into TaxTank ready to be categorised and allocated to the relevant part of your tax or personal finances. Create bank rules for recurring transactions, attach supporting documents and keep your records moving throughout the year.
You can also invite the people who help manage your financial life, including your:
- Accountant
- Property co-owner
- Broker
- Financial advisor
Everyone can work from the same up-to-date information rather than exchanging separate spreadsheets, reports and email attachments.
What makes personal accounting software different from business accounting?
Business accounting software and personal accounting software solve different problems.
Business accounting software is designed to produce records and reports for a business entity. Personal accounting software focuses on the income, expenses, investments, assets and tax obligations of an individual.
Traditional Business Accounting
- Built around businesses and companies
- Uses charts of accounts and accounting ledgers
- Focuses on invoicing, payroll, GST and financial statements
- Reports business profit and loss
- Usually treats each business or entity separately
- Requires personal tax to be calculated elsewhere
- Often includes features individuals do not need
TaxTank
- Built around Australian individuals
- Uses personal tax-return categories
- Combines employment and sole trader income
- Manages property, shares and cryptocurrency
- Applies Australian individual tax calculations
- Updates your live tax position throughout the year
- Lets you select only the parts of the platform you need
Traditional accounting platforms remain valuable for companies with employees, payroll, inventory or complex business reporting. TaxTank is designed for individuals who want to manage their complete tax and financial position.
More than personal finance tracking
Personal finance apps usually focus on spending, budgets and savings goals. They can show where your money went, but they may not explain how your financial activity affects tax.
TaxTank combines personal finance management with Australian tax calculations.
This means the same platform can help you:
- Track personal spending and cash flow
- Build budgets for different areas of your life
- Monitor savings and financial goals
- Record tax-deductible expenses
- Manage sole trader activity
- Track investment property performance
- Calculate capital gains and losses
- Understand your estimated overall tax position
You are not limited to viewing your budget, business, properties and investments as separate financial lives.
See your position before the financial year ends
Your financial position does not stand still until tax time.
Every income payment, deductible expense, property cost and investment transaction can change the result. Waiting until the financial year has ended leaves you looking backwards, with little opportunity to find missing information or prepare for an unexpected tax obligation.
TaxTank lets you monitor your calculated position as the year progresses. You can see whether you may have tax to pay, understand how deductions affect the result and prepare for future obligations earlier. Keeping your records up to date also makes it easier to identify missing transactions or documents, give your accountant more organised information and make better-informed financial decisions before the year ends.
Build TaxTank around your financial life
TaxTank pricing starts from the equivalent of $6 per month, billed annually. Each Tank manages a specific part of your financial life. Use one or combine several for a more complete view of your tax and personal finances.
TaxTank is also 100% tax deductible 😉 so it’s a win, win.
- Free Trial
- No Credit Card Required
- Cancel Anytime
PROPERTY TANK
Manage property income and expenses
$15/month*
WORK TANK
Manage work income and expenses
$9/month*
SOLE TANK
Manage sole trader income and expenses
$9/month*
MONEY TANK
Manage budgets, cash flow and financial goals
$6/month*
HOLDINGS TANK
Manage CGT for shares, crypto and other assets
$6/month*
SPARE TANK
Upload important documents and receipts
FREE WITH ANY PAID TANK
See why Australians use TaxTank
TaxTank helps Australians replace disconnected spreadsheets, apps and tax-time folders with one organised view of their financial life.
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.”
Frequently asked questions
What is personal accounting software?
Personal accounting software helps individuals organise and manage their income, expenses, accounts, assets and financial records.
Some platforms focus mainly on budgeting and expense tracking. TaxTank also applies Australian tax calculations, helping individuals understand how their employment income, deductions, sole trader activity, properties and investments may affect their estimated tax position.
What is the best personal accounting software in Australia?
TaxTank is the best personal accounting software for Australians who want to manage their personal finances and tax in one place.
Unlike traditional accounting software built for businesses, TaxTank is designed around the way Australian individuals are taxed. It brings together employment income, expenses, deductions, sole trader activity, investment properties, shares, cryptocurrency, budgets and financial goals.
TaxTank also applies Australian tax calculations in the background, giving you an estimated tax position throughout the year rather than simply recording what you earned and spent.
Is there something like Xero for personal finances?
Yes. TaxTank is an Australian alternative for people who want the organisational benefits of Xero without using business accounting software for their personal finances.
It connects to eligible bank accounts and helps you categorise transactions, manage income and expenses, create budgets, track properties and investments, and keep supporting documents organised.
The key difference is that TaxTank is built for Australian individuals. It applies personal tax rules and calculations across your salary, deductions, properties, investments and sole trader income, rather than producing business accounts.
What is the best accounting software for managing personal accounts?
TaxTank is the best option for Australians who want to manage personal accounts, tax, budgets, properties and investments together.
It connects to eligible Australian bank accounts so you can categorise transactions, create bank rules, track income and expenses, build budgets and keep your financial records organised.
Unlike a basic expense tracker or budgeting app, TaxTank also calculates your estimated tax position throughout the year using the information recorded in your account.
Why is TaxTank the best personal accounting software for Australians?
TaxTank is built specifically around Australian individual tax rather than adapted from business accounting software or an overseas personal finance platform.
It can bring together:
- Employment income and deductions
- Sole trader income, expenses, GST and BAS information
- Investment property tax and performance
- Shares, cryptocurrency and capital gains
- Personal budgets and financial goals
- Receipts and supporting documents
- Your estimated overall tax position
Most platforms manage only one part of this picture. TaxTank connects them so you can understand how the different areas of your financial life work together.
Is TaxTank better than traditional business accounting software for personal finances?
For Australian individuals, TaxTank is generally a better fit because it is designed around personal tax and finances.
Business accounting platforms such as Xero, MYOB and QuickBooks are excellent for companies that need payroll, inventory, invoicing and formal financial statements. However, they generally do not calculate an individual’s complete Australian tax position across employment income, deductions, properties and investments.
TaxTank is designed for people who need personal accounting software rather than a business ledger.
Can I use business accounting software for my personal finances?
You can, but it may require significant manual setup.
Business accounting platforms are designed around charts of accounts, financial statements, invoicing, payroll and business reporting. They generally do not calculate an individual’s complete Australian tax position.
Personal accounting software may be more appropriate if you do not need complex business accounting features and want to manage your individual finances and tax together.
Is personal accounting software the same as a budgeting app?
No. Budgeting is one part of personal accounting.
A budgeting app generally tracks spending, cash flow and savings goals. Personal accounting software may also organise income, tax records, assets, liabilities, investments and other financial information.
TaxTank includes budgeting and money management while also supporting Australian tax calculations, properties, sole trader activity, shares and cryptocurrency.
Is TaxTank better than a budgeting app?
TaxTank is a better choice if you want to manage more than everyday spending.
A budgeting app can help track expenses, cash flow and savings goals. TaxTank includes budgeting and money management while also supporting tax deductions, sole trader activity, investment properties, shares, cryptocurrency and capital gains.
This gives you a more complete view of your personal finances and estimated tax position within the same platform.
Can sole traders use personal accounting software?
Yes. TaxTank’s Sole Tank is designed for Australian sole traders, freelancers and contractors who lodge an individual tax return.
It helps manage business income, expenses, invoices, GST, BAS information, depreciation and losses alongside employment income, properties and investments.
TaxTank is not traditional company bookkeeping software. It is designed to bring sole trader activity into the individual’s complete tax position.
Can personal accounting software track investment properties?
Yes. TaxTank’s Property Tank manages rental income, expenses, loans, borrowing costs, depreciation, capital improvements, ownership percentages, negative gearing and capital gains tax.
It also tracks property cash flow, equity, growth and performance across multiple properties and portfolios.
Does TaxTank connect to Australian bank accounts?
TaxTank supports live bank feeds for eligible accounts through Open Banking.
Can my accountant access my account?
Yes. You can invite your accountant to access your up-to-date TaxTank information.
You can also invite property co-owners, brokers and financial advisers when relevant.
How much does TaxTank cost?
TaxTank is modular, so you only subscribe to the Tanks you need.
Annual subscriptions start from $72. Bundle discounts apply when you select more than one Tank, and Property Tank starts from $180 per year for up to five properties.
Is there a free trial with TaxTank?
Yes. You can try TaxTank free for 14 days without entering a credit card.
Get started for free today!
Personal accounting should help you understand more than what came in and what went out.
TaxTank connects your income, expenses, tax, properties, sole trader activity and investments, giving you a clearer view of your complete financial position throughout the year.
You don’t need to know tax. You just need TaxTank. It knows the rules, so you don’t have to.