Managing your finances in TaxTank is easier when you know how your transactions are categorised. This guide breaks down all the available Tanks, along with their Income and Expense categories, so you can quickly see where your money is going and how it’s tracked. Jump straight to the Tank you need: Property Tank, Work Tank, Sole Tank, Holdings Tank, Personal Categories, or Other Tank. Use this as a reference whenever you’re allocating transactions or reviewing your reports.
Property Tank
Property Tank is for all income and expenses related to your investment properties. Here, you’ll find categories for rent, property maintenance, loan payments, insurance, and more. Use this section to make sure your property transactions are correctly allocated for accurate reporting and tax purposes.
Category Name | Category Type |
Funds held by Agent | Income |
Landlord contribution | Income |
Loan Payment (no linked bank to Transfer) | Income |
Other rental Income | Income |
Progress Payments | Income |
Rental Income | Income |
Advertising for tenants | Expense |
Air Conditioner Repairs & Maintenance | Expense |
Body Corporate Fees | Expense |
Borrowing Expenses | Expense |
Borrowing Expenses - Bank Fees | Expense |
Capital, Buying & Setup Costs (Clearing) | Expense |
Cleaning | Expense |
Council Rates | Expense |
Depreciation Schedule | Expense |
Electrical Repairs & Maintenance | Expense |
Funds over (Adjustment) | Expense |
Gardening | Expense |
General Repairs & Maintenance | Expense |
Inspection Fees | Expense |
Insurance | Expense |
Interest on loan(s) | Expense |
Internet | Expense |
Keys & Locks | Expense |
Land Tax | Expense |
Landlord Insurance | Expense |
Landlord Reimbursement | Expense |
Lawn Mowing | Expense |
Legal Fees | Expense |
Letting Fees | Expense |
Loan Drawdown | Expense |
Management Fees | Expense |
Management Fees - Other | Expense |
Management Fees - Platform Fees | Expense |
Pest Control | Expense |
Pest Inspection | Expense |
Plumbing Repairs & Maintenance | Expense |
Postage | Expense |
Rent not paid out (Held by agent) | Expense |
Rental Deductions - Other | Expense |
Repairs & Maintenance - Other | Expense |
Smoke Alarm Service | Expense |
Special Levy | Expense |
Stationery | Expense |
Sundry | Expense |
Sundry: Electricity & Gas | Expense |
Telephone / Mobile | Expense |
Travel Expenses | Expense |
Tribunal Fees | Expense |
Water (Tank) | Expense |
Water Rates & Usage | Expense |
Work Tank
Work Tank covers income and expenses related to your employment activities. This includes salary, allowances, superannuation, work-related purchases, and professional fees. Allocating transactions correctly in this Tank helps keep your work finances organised and simplifies end-of-year reporting.
Category Name | Category Type |
Advance | Income |
Allowance | Income |
Assessable amount - Capped Defined Benefit | Income |
Attributable PSI (A) | Income |
Australian Annuity Payments | Income |
Austudy | Income |
Code A - Superannuation Income Streams - Death | Income |
Code B - Superannuation Income Streams - Disability | Income |
Code M - Superannuation Lump Sum | Income |
Code N - Death Benefit Paid to non-dependant | Income |
Director Fees | Income |
ETP B - Non-dependant death benefit | Income |
ETP D - Dependant death benefit | Income |
ETP O - Gratuity or Payments in Lieu | Income |
ETP R - Genuine redundancy | Income |
ETP S - Excluded Life Benefit Payment | Income |
Earnings Other | Income |
Employee Share Scheme Income | Income |
Exempt Defence Force Income | Income |
Government Allowances | Income |
Interest Earned | Income |
Living Away From Home Allowance (LAFH) | Income |
Lump Sum A - All other Lump Sum Payments [T] | Income |
Lump Sum A - Genuine Redundancy [R] | Income |
Lump Sum B | Income |
Lump sum D (Redundancy amount) | Income |
Meal Allowance | Income |
Newstart | Income |
Other Allowance | Income |
Pensions | Income |
Phone Allowance | Income |
Post Tax Deductions - Other | Income |
Pre Tax Deductions - Other | Income |
Reimbursements | Income |
Salary or Wages | Income |
Tips | Income |
Travel Allowance | Income |
Uniform Allowance | Income |
Youth Allowance | Income |
ATO Interest Paid | Income |
Australian Government Special Payments | Income |
First home super saver (FHSS) scheme | Income |
Jury attendance fees | Income |
Lump Sum payments in arrears | Income |
Partnership Income | Income |
Royalties | Income |
Share of National Rental Affordability Scheme | Income |
Special profession income | Income |
Taxable scholarships, bursaries & grants | Income |
Trust Income | Income |
Accountant / Tax Agent Fees | Expense |
Accounting Software Fees | Expense |
Advertising | Expense |
Advisor Fees | Expense |
Aprons, smocks & overalls | Expense |
Award Overtime Meal Allowance Expense | Expense |
Award Transport | Expense |
Bank fees (deductible) | Expense |
Bank fees (not-deductible) | Expense |
Batteries | Expense |
Books, Journals | Expense |
COVID-19 Tests | Expense |
CPR Course | Expense |
Car wash | Expense |
Certification Renewal Fees | Expense |
Course Fees | Expense |
Domestic Transport | Expense |
Donations | Expense |
EV Home Charging | Expense |
Election expenses | Expense |
Electricity & Gas | Expense |
Eye Protection | Expense |
Financial Institution Duty | Expense |
Fuel / Oil | Expense |
Gloves | Expense |
Hats & Helmets | Expense |
Hi Vis Workwear | Expense |
Hire Vehicle Expenses | Expense |
Home Office Cleaning | Expense |
Home Office Hours - COVID | Expense |
Home Office Occupancy - Other | Expense |
Home office hours - Study related | Expense |
Home office hours - work related | Expense |
Income Tax Variation | Expense |
Ink Cartridges | Expense |
Insect Repellent | Expense |
Insurance | Expense |
Interest Charged by ATO | Expense |
Internet | Expense |
Klms travelled for work | Expense |
Laundry (Mixed Wash) | Expense |
Laundry (Washed Separately) | Expense |
Lease Repayment | Expense |
Licence Fees | Expense |
Litigation Costs | Expense |
Mobile Phone | Expense |
Newspaper (Paper/Digital) | Expense |
Non-Slip Shoes | Expense |
Occupational Specific Clothing | Expense |
Other | Expense |
Overseas Travel | Expense |
PAYG Instalments | Expense |
PPE (Personal Protective Equipment) | Expense |
Parking | Expense |
Personal Super Contributions (Deductible) | Expense |
Personal Super Contributions (Non-Deductible) | Expense |
Personal Trainer - Sportswear | Expense |
Postage | Expense |
Printing | Expense |
Professional Indemnity Insurance | Expense |
Professional Membership | Expense |
Protection Clothing - Other | Expense |
Public Transport Fees | Expense |
Rates | Expense |
Reference Materials | Expense |
Registration | Expense |
Rent | Expense |
Respiratory Masks | Expense |
Self Education Expenses - Other | Expense |
Seminar | Expense |
Services & Maintenance | Expense |
Short Course | Expense |
Software Fees - TaxTank | Expense |
Software Subscriptions | Expense |
Stationery | Expense |
Steel Cap Boots | Expense |
Stockings | Expense |
Student Union Fees | Expense |
Subscriptions - Other | Expense |
Sunglasses | Expense |
Sunscreen | Expense |
Swimming Instructor - Swimwear | Expense |
Telephone | Expense |
Textbooks | Expense |
Tolls | Expense |
Travel Expenses - Other | Expense |
Travel costs to see your Accountant / Advisor | Expense |
Tyres | Expense |
Uniform - Other | Expense |
Uniform - Pants | Expense |
Uniform - Shirts | Expense |
Union Fees | Expense |
Vehicle loan – Interest | Expense |
Vehicle loan – Principal | Expense |
Work Place Giving | Expense |
Work Related Expenses - Other | Expense |
Workshop | Expense |
Workwear | Expense |
Income Protection Insurance | Expense |
Life Insurance | Expense |
Non capital losses on disposal of assets | Expense |
Partnership Expenses | Expense |
Private Health Insurance | Expense |
Trust Expenses | Expense |
Sole Tank
Sole Tank is designed for sole traders and independent contractors. It tracks your business income, client payments, business expenses, and work-related deductions. Using these categories ensures your business transactions are recorded correctly and makes tax time much simpler.
Category Name | Category Type |
Assessible Government Payments | Income |
Commission | Income |
GST Refund | Income |
Gross payments - Labour hire or other specified payments | Income |
Gross payments - Voluntary agreement | Income |
Gross payments - no ABN given | Income |
Interest Earned | Income |
Jobkeeper | Income |
Labour | Income |
Other Assessable Payments | Income |
Other Business Income | Income |
PSI - ABN not quoted (N) | Income |
PSI - Labour Hire or Other (O) | Income |
PSI - Other (J) | Income |
PSI - Voluntary Agreement (M) | Income |
Parts & Consumables | Income |
Sales | Income |
Uber Income | Income |
Advertising & Marketing | Expense |
Bad Debt | Expense |
Bank Fees | Expense |
Batteries | Expense |
Business Insurances | Expense |
Car wash | Expense |
Client Meetings (General) | Expense |
Commissons paid | Expense |
Consulting & Accounting | Expense |
Contractors & Commission Fees | Expense |
Cost of goods sold | Expense |
Credit Adjustment | Expense |
Day Trips with Clients | Expense |
Entertainment | Expense |
Franchise Fees | Expense |
Freight & Postage | Expense |
Fuel / Oil | Expense |
GST Paid | Expense |
Home Office Cleaning | Expense |
Home Office Electricity & Gas | Expense |
Home Office Mortgage | Expense |
Home Office Other Expenses | Expense |
Home Office Rates | Expense |
Home Office Rent | Expense |
Home office hours | Expense |
Insurance | Expense |
Interest Expenses (Australia) | Expense |
Interest Expenses (Overseas) | Expense |
Internet | Expense |
Klms Travelled | Expense |
Lease Repayment | Expense |
Lease expenses (Commercial) | Expense |
Legal Expenses | Expense |
Licence Renewals | Expense |
Materials & Consumables | Expense |
Meals & Accomodation | Expense |
Memberships | Expense |
Mobile Phone | Expense |
Office Expenses | Expense |
Other | Expense |
Other Business Expenses | Expense |
Other Client Related Expenses | Expense |
Overnight Stays with Clients | Expense |
PAYG Instalments | Expense |
PPE gear - Safety Equipment | Expense |
PSI - Deduction Other (L) | Expense |
PSI - Deduction associates (K) | Expense |
Parking / Tolls | Expense |
Printing & Stationary | Expense |
Purchases (Stock / Inventory) | Expense |
Reference materials | Expense |
Refreshments for Clients | Expense |
Registration | Expense |
Rent expenses (Commercial Premises) | Expense |
Seminars & Workshops | Expense |
Services & Maintenance | Expense |
Subscriptions | Expense |
Superannuation | Expense |
Telephone | Expense |
Therapy Sessions with Clients | Expense |
Tools & Equipment (less than $1000) | Expense |
Travel - Domestic | Expense |
Travel - International | Expense |
Tyres | Expense |
Uber Fees & Charges | Expense |
Uniforms | Expense |
Vehicle loan – Interest | Expense |
Vehicle loan – Principal | Expense |
Wages & Salaries | Expense |
Holdings Tank
Holdings Tank is for investment income and expenses, including shares, crypto, dividends, and managed investments. You’ll also find categories for related deductions like interest, fees, and trading costs. This Tank helps you stay on top of your investment performance and tax obligations.
Category Name | Category Type |
Bonuses - Friendly Societies | Income |
Bonuses - Life Insurance Companies | Income |
Crypto Trading Income | Income |
Dividends | Income |
Foreign Exchange Gains (non-business) | Income |
Forestry Managed Investment Schemes Income | Income |
Gain on sale of vehicle previously depreciated | Income |
Interest distributions from Partnerships | Income |
Interest distributions from Trusts | Income |
Interest from other investments | Income |
Interest on term deposits | Income |
Other Assets Income | Income |
Share Trading Income | Income |
Staking | Income |
Crypto Trading Payments | Expense |
Dividend Deductions - Allocated Pensions & Annuities | Expense |
Dividend Deductions - Bonds Other | Expense |
Dividend Deductions - Convertible Notes | Expense |
Dividend Deductions - Convertible Preference Share | Expense |
Dividend Deductions - Friendly Society | Expense |
Dividend Deductions - Insurance Bonds | Expense |
Dividend Deductions - Linked Bonded & Notes | Expense |
Dividend Deductions - Loans to Related Parties | Expense |
Dividend Deductions - Managed Funds Other | Expense |
Dividend Deductions - Other | Expense |
Dividend Deductions - Shares Margin lending | Expense |
Dividend Deductions - Shares Other | Expense |
Dividend Deductions - Stapled Securities | Expense |
Dividend Deductions - Superannuation | Expense |
Foreign Exchange Losses | Expense |
Forestry Managed Investment Schemes Deduction | Expense |
Interest Deductions - Allocated Pensions & Annuities | Expense |
Interest Deductions - Bonds Other | Expense |
Interest Deductions - Convertible Notes | Expense |
Interest Deductions - Convertible Preference Shares | Expense |
Interest Deductions - Friendly Society | Expense |
Interest Deductions - Instalment Receipts | Expense |
Interest Deductions - Insurance Bonds | Expense |
Interest Deductions - Linked Bonded & Notes | Expense |
Interest Deductions - Loans to Related Parties | Expense |
Interest Deductions - Managed Funds Other | Expense |
Interest Deductions - Other | Expense |
Interest Deductions - Shares Margin lending | Expense |
Interest Deductions - Shares Other | Expense |
Interest Deductions - Stapled Securities | Expense |
Interest Deductions - Superannuation | Expense |
Other Assets Payments | Expense |
Portfolio Admin Fees | Expense |
Share Trading Payments | Expense |
Personal Categories
The Personal Categories section contains our prebuilt categories for personal income and everyday expenses that aren’t related to work, sole trader business, property, or investments. This includes tax refunds, living costs, and personal purchases. You can use these prebuilt categories or create as many custom personal categories as you like to track your finances exactly how you want.
Category Name | Category Type |
COVID 19 - Additional Support Payments | Income |
COVID 19 - Early Release of Super | Income |
COVID 19 - Supplement Payments | Income |
Centrelink - Family Benefits Payments | Income |
Personal Income - Other | Income |
Tax Refund | Income |
Boats & Jet Ski’s | Expense |
Caravans & Motor homes | Expense |
Child Support | Expense |
Childcare & After School Care | Expense |
Clothing | Expense |
Entertainment | Expense |
Food - Dining in/out | Expense |
Food - Groceries | Expense |
Gifts | Expense |
Gym & Health | Expense |
Hair and Beauty | Expense |
Higher Education and Vocational Training | Expense |
Hobbies | Expense |
Medical | Expense |
PAYG Instalments | Expense |
Personal Expenses - Other | Expense |
Pets | Expense |
SMSF Transactions | Expense |
School Fees | Expense |
Sports | Expense |
Subscriptions (not deductible) | Expense |
Tax Paid | Expense |
Travel (not deductible) | Expense |