Artificial intelligence and machine learning are everywhere right now. But when it comes to tax, “close enough” is not good enough. That’s why TaxTank takes a deliberate approach to AI. We use it to support users where it genuinely helps, while keeping tax calculations and compliance grounded in rules, logic, and precision.
So yes, TaxTank does use AI. Just not in the risky, black box way you might see elsewhere.
Accuracy First, Always
TaxTank is the only platform in Australia that automatically calculates individual tax at the source. That’s a big deal. Most software avoids this altogether because the Australian tax system is complex, detailed, and constantly changing, with thousands of pages of legislation, thresholds, and exceptions.
True tax accuracy is not just about putting a transaction into a category. It’s about allocating that transaction correctly based on income type, taxpayer structure, ownership, and ATO rules.
Take a professional subscription as an example. It may be deductible against your PAYG income if it directly relates to your job. That same expense might not be deductible at all for your rental property or sole trader income. The ATO requires a clear nexus between the expense and the income it relates to. Generic categorisation cannot handle that reliably.
Add multiple income streams, such as employment, a sole trader business, and several investment properties, and the complexity increases fast. Each deduction must be allocated to the correct property, business, or income source. Getting this wrong does not just affect your refund. It creates compliance risk.
That’s why TaxTank does not rely on fully automated AI categorisation to drive tax outcomes. In tax, almost right is still wrong.
Where AI Does Help in TaxTank
While we don’t let AI make tax decisions for you, we do use AI where it genuinely improves the experience.
TaxTank includes AI chat support designed to help you onboard faster, understand the platform, and feel confident as you go. It can guide you through setup, explain what different features do, and answer questions as they come up.
AI chat support also helps with transaction categorisation and allocation by explaining the logic behind categories, suggesting appropriate options, and helping you understand why a transaction should be allocated a certain way. Importantly, the final tax treatment still follows TaxTank’s rules-based tax engine, not AI guesswork.
Think of it as a knowledgeable assistant sitting beside you, helping you make better decisions, rather than an automated system making decisions on your behalf.
The Future of AI in TaxTank
AI is very much part of our roadmap. As the platform continues to evolve, we see strong potential for AI to assist with things like smarter suggestions, pattern recognition, and surfacing insights that help users stay organised and proactive.
But we will only expand AI-driven features when we can be confident they meet the same accuracy standards as our core tax engine. Speed and automation are useless if the numbers are wrong.
When AI can reliably handle Australia’s tax rules without compromising compliance, we will absolutely lean into it.
Our Commitment to Precision and Innovation
At TaxTank, we don’t chase trends for the sake of it. Our focus is on building the most accurate, compliant, and practical tax platform in the market.
AI already plays a supportive role by helping users onboard, understand their data, and allocate transactions correctly. And as the technology matures, it will play a bigger role, carefully and responsibly.
AI will continue to grow inside TaxTank. But accuracy will always come first.