Property Tank
Learn everything you need to manage your property portfolio with TaxTank. Track income, expenses, and deductions while staying organised.
56 articles
Managing Properties & Portfolios
Master property and portfolio management with TaxTank. From adding properties to managing ownership percentages and portfolio types including SMSF, Trusts and AirBnB.
- How to add propertiesLearn how to add properties in TaxTank for complete asset tracking, accurate financial records, and effective property management.
- How to upload multiple documents for a property purchaseLearn how to upload multiple property documents, including buyer's agent agreements, inspection reports, and conveyancer statements.
- Why it’s important to check before entering a manual addressLearn why checking your address before entering it manually in TaxTank ensures accurate CoreLogic valuations and property data.
- How to add a Property PictureEnhance property records by adding pictures for visual reference and documentation in TaxTank.
- How to allocate property loans in TaxTankLearn how to allocate loans to properties in TaxTank by security or usage to track equity accurately and stay compliant with ATO guidelines.
- How to edit a propertyLearn how easily edit properties in TaxTank. Navigate to Property Tank, click 'Property Tab', then edit with the pencil icon.
- How to deactivate a propertyLearn how to deactivate a sold or transferred a property so it can reactivated if needed at anytime.
- How to delete a property in TaxTankLearn how to delete a property from TaxTank by making it inactive, removing any data, and finally deleting.
- How to update your property when its use has changedNavigate the steps to update property use details, ensuring accurate financial reporting.
- How to create custom portfolios to manage your propertiesDiscover how to create customised property portfolios to organise and analyse your property investments effectively.
- How to change/edit your property ownership percentageLearn how to update ownership percentages for properties in TaxTank for correct asset allocation and better financial management.
- How to seamlessly manage your property held in a SMSF in TaxTankLearn how to seamlessly manage your Self-Managed Super Fund (SMSF) property within TaxTank.
- How TaxTank tracks and labels your property performanceLearn how TaxTank tracks property performance with real-time insights, highlighting top tax savings, equity gains, and ongoing monitoring.
- How to connect your properties to your Sharesight accountHow to connect your properties from TaxTank into your Sharesight account using the 2 way API integration.
- How to change the initial portfolio for your propertyLearn how to easily update a property’s portfolio if it was assigned incorrectly & keep your property movements accurate for tax compliance.
- How to add commercial or business properties in TaxTankLearn how to add commercial or business properties in TaxTank using Property Tank portfolios and Sole Tank for BAS, GST, and separate entity reporting.
- How to add a granny flat in TaxTankLearn how to set up an owner occupied dwelling and granny flat in Property Tank so you can accurately split shared expenses and allocate property-specific costs.
- How to add a foreign property in TaxTankLearn how to add an overseas or foreign property in TaxTank, enter property values in AUD, and manage valuations and forecasts for Australian tax purposes.
- How to manage foreign property income and expenses in TaxTankLearn how to record overseas property income and expenses in TaxTank using foreign bank accounts or manual entries, with automatic AUD conversions for Australian tax reporting
Property Income & Rental Statements
Optimise your property income management and learn how to add incomes, view and edit transactions and streamline your rental property finances effortlessly.
- How to add rental income and monthly statementsLearn the process of adding rental income and expenses from your monthly statement to ensure accuracy, including adjustements paid by your property manager.
- How to view or edit an income transactionLearn how to effortlessly view and edit income transactions, ensuring accuracy and transparency in your rental property finances.
- How to add rental income with amounts held over by a Real Estate AgentLearn how to manage rental income with Real Estate adjustments held over by an Agent accurately for tax purposes.
- How to add rental income with amounts contributed by a LandlordLearn how to accurately manage rental income statements which include landlord contributions and refunds, for optimal tax management.
- How to manage variances between your annual rental statement and actual payments receivedLearn how to mange any rental income variances due to the timing of payments across financial years.
- What to do when the gross rental income on your Annual Rental Statement is more than what's in TaxTankLearn how to manage rental income variances due to the timing of payments across financial years when your statement shows more than TaxTank
- What to do when the gross rental income on your Annual Rental Statement is less than what's showing in TaxTankLearn how to manage rental income variances due to the timing of payments across financial years when your statement shows less than TaxTank
- How to allocate rental income when you have one rental statement for multiple propertiesLearn how to allocate rental income when multiple properties are reported on one monthly rental statement.
- How to reconcile rental income when you have a monthly statement but receive payments weekly or fortnightlyLearn how to reconcile rental income when you have a monthly statement but receive payments weekly or fortnightly.
- How to record rental income when the bank transaction is in a different financial yearLearn how to record rental income in TaxTank when the bank deposit falls in a different financial year.
- How to add a rental income statement when your Property Manager has paid for an asset from rentLearn how to add a rental income statement in TaxTank when your property manager pays for a capital asset from your rent, and set up depreciation correctly for accurate tax…
- How to track water reimbursements separately from rental incomeLearn how to track water reimbursements separately from rental income while keeping your tax reporting accurate. Simple step-by-step guide for property investors.
Property Expenses & Deductions
Optimise your property expense management and learn how to add expenses, calculate shared costs and streamline your property financials effortlessly!
- How to add property expenses and cash receiptsLearn how to manage and claim expenses on land, whether holding or building, to capture holding costs.
- How to calculate share property expenses accuratelyLearn how to calculate shared property expenses with precision, ensuring correct reporting to the ATO.
- How to manage and claim expenses on land when holding or buildingLearn how to use the Land Portfolio to automatically capture holding costs as capital expenses and keep your property tax records accurate.
- How to allocate platform fees for share accommodationLearn how to allocate Share accommodation platform fees that are 100% deductible.
- How to apportion loans and interest to one or more propertiesLearn how to apportion loans and interest across multiple properties in TaxTank for accurate equity tracking and ATO-compliant deductions.
- How to allocate property loan interest transactions by usageLearn how to split and allocate loan interest across properties based on loan usage, not security, using TaxTank’s bank rules.
- Where to allocate bank transactions for capital costs and pre-purchase expensesLearn how to allocate capital costs and borrowing expenses in TaxTank so they're tracked correctly without affecting your tax return.
Property Depreciation & Borrowing Expenses
Learn to add depreciation schedules, borrowing expenses, and utilise calculators for informed investment decisions.
- How to add property depreciationLearn how to add property depreciation (capital works, plant & equipment & LVP) seamlessly into TaxTank for accurate financial reporting.
- How is Capital Works depreciation calculated?Understand how Capital Works depreciation is calculated, maximising tax benefits for your investment properties.
- How to add borrowing expenses for your investment propertyLearn how to add borrowing expenses for your investment property accurately, optimising tax deductions within TaxTank.
- How to use the Property Borrowing Power Calculator in TaxTankLearn how to utilise the Property Borrowing Power Calculator effectively within TaxTank for assessing investment potential.
- How does the Property Borrowing Power calculator work?Gain insights into how the Property Borrowing Power calculator works, empowering informed investment decisions.
- Help with inputting your depreciation scheduleIf you need help inputting your depreciation schedule, we have a service available for $22 per schedule. Quick, accurate, and hassle-free!
- How to add grouped depreciation items to the Low Value Pool (LVP)Learn how to manually add grouped depreciation assets to the Low Value Pool in TaxTank for accurate tax tracking and maximised deductions.
- How to set up custom depreciation for commercial property or non-standard assetsLearn how to create custom categories for commercial properties or assets not covered by ATO useful life guidelines.
- How to add Structural Improvements & Building AlterationsLearn how to add structural improvements and building alterations in TaxTank, including depreciation for initial repairs and post-purchase renovation projects.
- How to add Building Depreciation (Capital Works)Learn how to add Building Depreciation in TaxTank, record capital works costs, set building and schedule dates, and calculate remaining claimable depreciation.
Property Equity & Valuations
Learn how we calculate property equity and add new valuations effortlessly and achieve accurate financial insights.
- How we calculate equity on propertiesLearn how we calculate equity on properties to effortlessly monitor equity & LVR for each property with live updates & growth forecasts.
- How to add a new property valuationLearn how to update the valuation of your property.
- How and when to update your property market values and growth forecasts using CoreLogicLearn how to update property values and growth forecasts in TaxTank using CoreLogic’s latest market data to track your equity & investments.
- Why CoreLogic data may not be available for your propertyLearn why CoreLogic data may not be available for your property in TaxTank and how to ensure accurate valuations.
Updating Property Details & Forecasts
Learn to edit property details and forecasts effortlessly for accurate financial management.
- How to record capital costs including stamp duty and buyers agent feesLearn how to accurately record stamp duty and other capital costs and upload settlement letters for seamless tracking.
- How to add forecasts for properties and portfoliosDiscover how to forecast property and portfolio incomes effectively, enhancing your financial projections within TaxTank.
Property Sales & Transfers
Navigate how to handle property sales and transfers effortlessly with TaxTank, including calculating capital gains tax on your investment property.
- How to sell a propertyLearn now to navigate capital gains tax (CGT) when selling a property and calculate CGT in three simple steps for a smooth tax experience.
- How to calculate capital gains tax for your investment propertyLearn how to calculate capital gains tax for your investment property with TaxTank's step-by-step guide of their automated CGT calculator.