Sole Trader Tax. Sorted.
Introducing a smarter way to manage sole trader tax.
Stop tracking income and expenses and hoping it works out at tax time. TaxTank shows your real profit, tax position, and what you actually owe, all in real time.
Most accounting software tracks your business, not your sole trader tax.
Most tools are built for businesses and companies. They track income and expenses, generate reports, and leave the tax treatment to be worked out later.
But as a sole trader, your business isn’t separate. Your income, deductions, and decisions all flow into your personal tax return.
That’s where TaxTank is different.
It doesn’t just track activity. It applies the correct ATO tax treatment in real time, so you can see your actual sole trader tax position, not just your transactions.
For a fraction of the cost of other software, I get all the tools I need to manage my sole trader business and investments efficiently. It’s simple, smart, and effective.
As seen in
What actually changes after you start using TaxTank
From day one, TaxTank gives you more than just tracking. It gives you clarity on what you actually earn, confidence in your numbers, and the right tax outcome all year round.
See your real profit and tax position live
No more waiting until year-end to understand where you stand. As your income and expenses change, your tax position updates with it, so you always know exactly what’s happening.
Track deductions properly, including vehicle, WFH and assets
The deductions that matter most are often the ones that get missed or misapplied. TaxTank handles them correctly as you go, so nothing gets lost or guessed later.
See your full financial picture
Most tools show your business in isolation. TaxTank combines all your income sources into one real-time tax outcome, so nothing gets missed and everything makes sense.
Understand what you actually earn after tax
Whether it’s buying equipment, taking on more work, or changing direction, you can see the impact on your tax and profit before you commit, not months later.
Built for ATO-correct tax outcomes, not just record keeping.
What this looks like in real life
“What used to be a guess at tax time is now clear all year round.”
“For the first time, I actually know what I’m making after tax.”
“No more spreadsheets, no more scrambling, everything just runs in the background.”
More than accounting software, built for the right sole trader tax outcome
Most platforms only track income and expenses. TaxTank goes further by automatically applying the correct ATO tax treatment, so your tax position is always accurate, up to date, and ready when you need it.
Built specifically for Australian sole traders, TaxTank is designed to handle the parts most accounting software misses. From vehicle use and working from home to asset depreciation and GST, everything is treated correctly as it happens and flows into your personal tax position.
With everything connected in one place, you can see your real profit, track your tax year-round, and store every receipt and document in a secure, audit-ready environment.
With powerful automation built in, TaxTank helps you claim every deduction you’re entitled to accurately, confidently, and without the end-of-year scramble.
Financial Oversight
Know your financial position in real time so you can make smarter business decisions.
Live Bank Feeds
Ensure nothing is missed with automated live bank feeds using Open Banking.
Automated Tax Tools
Automatically allocate income and expenses using bank rules so you can set and forget.
Depreciation Tools
Claim depreciation on business assets with ease, including small business pools and instant asset write-offs
Maximise Deductions
Automatic calculations of your estimated tax position to show you how much tax you owe.
Easy Collaboration
Share with accountants and advisors so you can keep on top of everything year round.
Secure Document Storage
Attach receipts, document, statements and even warranties for a secure record that never fades.
Peace Of Mind
Avoid stress at the end of the financial year and know your tax position all year round.
Run your business and stay on top of tax all year round
Whether you’re building a side hustle or running a full-time solo operation, Sole Tank gives you a clear view of your business and sole trader tax position without the stress. Everything works together so you can manage your finances properly and avoid surprises at tax time.
- Track your live tax position year-round
- Manage multiple sole trader businesses under one subscription
- Create quotes and convert accepted quotes into invoices
- Send professional invoices with comments and payment details
- Manage clients with notes, invoice history, and outstanding balances
- Allocate business expenses automatically using live bank feeds
- Track PSI income, labour hire, and other business income and expenses
- Manage business assets with automated depreciation and instant asset write-offs
- Automatically track loan balances with amortisation schedules
- Calculate non-commercial losses and track carry-forward losses
- Generate BAS reports for GST across multiple businesses and ABNs
- Separate primary and non-primary production activities for accurate reporting
- Generate Profit & Loss reports across one or multiple businesses (cash or accrual)
- View real-time business schedules and transaction reports
- Store business documents and receipts securely in the Spare Tank
Track businesses that aren’t part of your personal tax
TaxTank can also be used to track business activities that don’t belong in your personal tax return. This is ideal for simple trusts, partnerships, micro-companies, or commercial property activities that still need proper financial tracking.
You can exclude these businesses from your personal tax summary while still managing everything in TaxTank.
- Track income and expenses using live bank feeds
- Generate Profit & Loss reports with cash or accrual views
- Run BAS reports for GST-registered activities
- Monitor performance across multiple businesses
- Export reports to share with accountants or advisors
- Store documents and receipts securely alongside transactions
This gives you the flexibility to manage different business structures in one place, while keeping your personal tax calculations accurate.
Stay ATO compliant without the headache
With live bank feeds and smart tax tools, TaxTank captures every deduction and calculates claims correctly so you can stay compliant with confidence.
There’s no more guessing, no more scrambling, and no more risk of missing out.
Your tax isn’t calculated per app, it’s calculated as one number
TaxTank connects your business, salary, property, and investments into one real-time tax outcome so you can see the full picture.
It's easy to get started
Getting started with TaxTank is simple and affordable. With pricing starting from just $9 per month, you can access all the specialised tools you need to manage your sole trader tax effectively.
- Free Trial
- No Credit Card Required
- Cancel Anytime
SOLE TANK
Simply add Sole Tank so you can manage your sole trader tax in one simple platform.
$9/month
Paid Annually
Trusted by Sole Traders across Australia
Frequently asked questions
Yes absolutely. You can add up to 6 businesses under the same ABN.
If you have both sole trader income and PAYG income, we would recommend you look at using Work Tank and Sole Tank together so you can understand your complete tax position. Our live tax summary will keep you be informed of your tax throughout the year so there are no more tax surprises when it comes to the end of financial year.
We cater to individual taxpayers so unfortunately you won’t be able to manage your company in TaxTank. There are many other platforms that are set up help with managing your company tax so would recommend you take a look at those options.
Not all, that’s why we have come the rescue. Tax has always been so boring and conveluted, 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?
We wouldn’t make you do that! The sooner the better, why wait for something so good? We would hate to see you miss out on important deductions that could cost you heaps of money.
Yes, TaxTank is 100% tax deductible.
Some tech savvy people out there may be quicker, but for us novices it can take approximately probably 10 minutes if you have your documents handy. If you hve multiple properties, you will need to give yourself more time but a little bit of work will be totally worth it!
Yes absolutely. TaxTank has been to developed to directly associate with all current Australia tax law. TaxTank will also be updated when any changes are made by the ATO.