When adding a property in TaxTank, you'll enter your ownership percentage so we can calculate the correct tax position where applicable. If your ownership is less than 100%, you can invite one or more co-owners to share the property, provided the total ownership does not exceed 100%.
When you share a property in TaxTank, your co-owner's tax position will automatically update based on their ownership percentage each time you reconcile transactions, saving them from having to allocate the same transactions themselves.
You can invite co-owners or accept invitations from the Users page, available from the main menu.
Inviting a Co-Owner
From the Users page, select Co-owners, then click Add.
Enter your co-owner's first name and email address.
If your co-owner is already registered with TaxTank, you'll be able to select them from the email field once they're matched.
If they aren't yet registered, we'll send them an invitation to join TaxTank.
Please note: If your co-owner isn't already registered with TaxTank, only one pending invitation can be sent to them at a time. Once they register and accept that first invitation, you'll then be able to invite them to any additional shared properties.
Co-owners must be registered TaxTank users before they can accept a property sharing invitation.
Next, select the property you'd like to share and enter your co-owner's ownership percentage. Ownership percentages are important for tax calculations, so if you're unsure, it's a good idea to confirm them with your accountant first.
Once you're happy with the details, tick the Are you sure? checkbox and click Send Invitation.
The invitation will display as Pending until it's accepted. While it's pending, you can resend or remove the invitation using the icons on the left.
Accepting a Co-Owner Invite
If someone has invited you to share a property, you'll find the invitation in the same Co-owners section.
Click the green tick to accept the invitation or the red cross to decline it, then follow the prompts.
Once accepted, the property will move to your Property Co-owners list, where you can view co-owners by person or by property.
Removing or Splitting from a Co-Owner
If a property invitation is still pending, you can cancel it at any time by going to Users > Co-owners and clicking the bin icon next to the invitation.
If the invitation has already been accepted and you need to remove a co-owner or separate ownership, click the chat icon and submit a Remove Property Co-Owner support request.
Our team will take it from there and keep you updated through chat.
