How to allocate your wife/husband/partner's income and expenses if you share a bank account

If you and your wife, husband, partner, or co-owner both use TaxTank and share a bank account, you may see each other’s transactions come through the same live bank feed.

Due to Open Banking regulations, bank accounts and transactions cannot currently be shared across separate TaxTank accounts.

To keep your tax summary accurate, any transactions that belong to your partner or relate to shared personal spending should be allocated as a Personal transaction rather than a tax-related category.

When allocating a bank transaction:

Many customers use this setup to manage:

This helps keep personal and household spending organised without affecting your individual tax calculations.

We recommend setting up automated bank rules for recurring personal or shared transactions so they allocate automatically and can be managed in bulk.