Yes! TaxTank uses artificial intelligence to help Australians manage their finances and tax more easily.
From answering questions and helping you get started to recommending transaction categories, AI is already part of the TaxTank experience. The important difference? TaxTank combines AI assistance with a dedicated Australian tax calculation engine, so you're not relying on a general-purpose AI chatbot to work out your tax. How does TaxTank use AI today?
TaxTank includes built-in AI assistance to help you navigate the platform, understand its features and manage your financial records.
You can use AI to:
Get help with onboarding: Ask questions as you set up your account and start using your Tanks.
Understand TaxTank's features: Get guidance on how different tools work and where to find what you need.
Get transaction allocation recommendations: Ask AI which category may be appropriate for an expense or transaction.
Find answers when you need them: Access guidance without having to search through support articles.
AI helps take some of the guesswork out of managing your financial information, while you remain in control of your records and allocations.
AI assistance meets live Australian tax calculations
Here's where TaxTank is different.
Most people don't manage their finances in neat little boxes. You might earn a salary, run a side business, own an investment property or invest in shares and crypto.
And all those activities can affect your overall tax position.
TaxTank brings your financial activities together through its connected Tanks, with live Australian individual tax calculations across your relevant income, deductions and investments.
Our AI helps you understand and manage your information, while TaxTank's dedicated tax engine applies the relevant Australian tax rules and calculation logic.
AI helps you manage the information. TaxTank calculates the tax.
Your live tax position updates as you add and allocate information, helping you understand where you stand throughout the financial year rather than waiting until tax time.
Why doesn't TaxTank connect directly to ChatGPT or Claude?
TaxTank accounts contain sensitive personal, financial and tax information, so privacy is an important part of how we develop AI functionality.
Rather than allowing users to connect their TaxTank accounts directly to general-purpose AI platforms such as ChatGPT or Claude, we're developing our own AI capabilities within TaxTank.
This allows us to design the experience around Australian tax requirements, the way our platform works and the security controls appropriate for financial information.
Our approach is to make AI genuinely useful without treating sensitive financial data as something that should be freely shared with external AI services.
Can AI calculate my tax?
TaxTank already provides live Australian individual tax calculations, but those calculations aren't simply generated by an AI chatbot.
Our dedicated tax engine applies Australian tax rules to the income, expenses, deductions and investment information recorded in your account.
AI can help you understand how to use TaxTank and manage your information, while the tax engine handles the calculations.
Your estimated tax position depends on the information recorded and allocated in TaxTank and may change as your financial information is updated.
Smarter finances. A clearer picture of your tax.
You shouldn't have to wait until the end of the financial year to understand how your financial decisions affect your tax.
TaxTank combines financial management, AI-assisted guidance and live Australian individual tax calculations to help you stay organised, understand your finances and make more informed decisions throughout the year.
You don't need to know tax. You just need TaxTank.