On the TaxTank dashboard, the ± percentages compare your Actual and Forecasted Tax Positions to help you track your tax liability or refund. These percentages indicate whether your actual tax position is better or worse than your forecasted position.
How Tax Position percentages are calculated
To ensure clarity:
A better tax outcome (lower tax payable or a higher refund) is shown in green.
A worse tax outcome (higher tax payable or a lower refund) is shown in red.
The lowest tax position always has a negative (-) percentage to reflect the best tax position.
Key logic for displaying percentages
If the Forecasted Tax Position is lower (or more negative) than the Actual Tax Position, the forecasted value should be displayed in green (better), and the actual in red (worse).
If the Actual Tax Position is lower (or more negative), it should be in green, while the forecasted value should be in red.
If one position is $0 and the other is negative, the negative value is considered better (as it indicates a refund).
Examples
Example 1: Comparing a Negative Tax Position to $0
Forecasted Tax Position: -$40.00
Actual Tax Position: $0
✅ Expected Display:
Forecasted Tax Position: Green -100% (better outcome)
Actual Tax Position: Red +100% (worse outcome)
Since a negative tax position means a refund, -$40.00 is better than $0 (no refund).
Example 2: Comparing Two Negative Tax Positions (Refunds)
Forecasted Tax Position: -$40
Actual Tax Position: -$3,462
✅ Expected Display:
Forecasted Tax Position: Red +8,555% (worse outcome)
Actual Tax Position: Green -8,555% (better outcome, largest refund)
Since -$3,462 is a much larger refund than -$40, the Actual Tax Position should be displayed as green, while the Forecasted Tax Position should be in red.
Why this matters
Understanding these comparisons helps you track your tax performance and identify potential adjustments to improve your tax position before the financial year ends. If you notice discrepancies, review your transactions and forecasts to ensure accuracy.