Commercial properties in TaxTank are managed across two areas:
Property Tank → tracks the asset and rental performance
Sole Tank → handles invoicing, GST and BAS
Most users will use both together when registered for GST — but you can also use each one on its own depending on your needs.
Recommended setup for most users
Use Property Tank + Sole Tank together.
Property Tank → track value, equity, loans, rent, depreciation, performance and produce custom property reports
Sole Tank → manage invoicing, GST, BAS and P&L reporting
This gives you a complete view — from asset position through to business activity and compliance.
Step 1: Set up the property (Property Tank)
Use Property Tank to manage the asset side of your commercial property.
You can track:
market value (with CoreLogic integration)
equity and loan allocations
rental income and expenses
portfolio performance
forecasts
How to set it up
Go to: Property Tank → Manage Properties → Portfolio → Add Portfolio
Create a custom portfolio, for example:
Commercial Properties
Business Premises
Company Properties
Then add your property to that portfolio.
Tip: If the property is held in a company, trust, or SMSF, select “Held in another entity” so it’s tracked correctly without impacting your personal tax.
Step 2: Set up invoicing & BAS (Sole Tank)
If you need to invoice tenants or report GST, this is managed in Sole Tank. Sole Tank allows you to:
create and send invoices (including recurring invoices)
track rent collections
manage GST
prepare BAS
generate Profit & Loss reports
Commercial rent and expenses can be recorded using the dedicated categories available in Sole Tank, making reporting simple and consistent.
How to set it up
Go to: Sole Tank → Add Business
Enter the business details
Tick “Exclude from personal tax calculations”
This ensures the activity is reported correctly without flowing into your individual tax return.
Do you need both?
Use Property Tank only if:
You just want to track:
property value
equity
loans
rental performance
…and you don’t need invoicing or BAS.
Use Sole Tank only if:
Your focus is:
invoicing tenants
GST and BAS
business-style reporting (P&L)
Use both (recommended) if:
You want:
full asset tracking and
invoicing + GST compliance and
complete reporting in one place
Why this works
Most tools split this into separate systems, one for property, one for accounting.
TaxTank connects both. So you can manage everything. all in one place, with everything aligned.