Features / Tax
A tax position that updates as your books update.
Every transaction, every pay run, every property statement changes the answer to "what tax am I on track to owe?" — so the platform updates the answer every time. No annual shock, no quarter-end surprise. Your tax position is a live number, not a retrospective calculation.
Features · Tax
Overview
By what you hold
People and pay
Meeting the ATO
Asking for help
For accountants
The tax position, kept live.
A running estimate, per person.
For every individual, household member, and business entity on your platform, myaccountant maintains a live tax estimate — income earned year-to-date, deductions accumulated, offsets applied, net tax payable or refundable. The estimate updates as your books update. Three months before tax time, you already know roughly what you will owe. Three weeks before tax time, you know precisely.
The Deduction Scanner, on the tax surface.
The same AI Deduction Scanner that surfaces claimable expenses in the Personal module feeds the tax view directly. Work-from-home expenses, professional fees, vehicle running, education — flagged for review, accepted in one click, applied to the running estimate.
Who owes what, in a household.
For households with more than one taxpayer — spouses, partners, an adult child filing their own return — the platform separates the tax position per person. Rental income from a jointly owned property is split per the ownership share. Salary earned by one partner stays with that partner. Deductions are attributed per taxpayer, not pooled. At tax time, each person's return is separately correct, without untangling shared records manually.
What else you get.
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Income aggregation per person — Salary, business income, rental income, investment income, super contributions. Everything feeds the tax view.
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Deduction categorisation — Pre-mapped deduction categories per person and per entity.
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Offset handling — Low-income offset, senior and pensioner offsets, dependant offsets, and any entity-specific offsets.
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Capital gains tracking — Property and investment sales flagged for CGT consideration, with the cost base and sale proceeds pre-populated.
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Quarterly PAYG instalment tracking — For taxpayers on PAYG instalments, the running position is visible against what has been paid and what the final estimate implies.
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Year-to-date vs. last year comparison — Same period last year versus this year, so the reader can see what is moving.
The reports that come with it.
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Tax Estimate Summary — Current running estimate per taxpayer, with income, deductions, offsets, and net position.
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Deduction Schedule — Every claimed deduction, categorised, with supporting transactions and confidence levels.
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ATO Risk Flagging — Transactions and patterns that may trigger an ATO audit (large repairs that could be capital, GST inconsistencies, unusual spikes). Risks surfaced during prep, not during audit.
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Plain-English Narrative (tax edition) — AI-generated commentary on the tax position. "Your tax bill is tracking $4,500 higher than last year — mostly because your rental deductions are down."
See the rest of the platform.
Every feature of myaccountant follows the same philosophy — show what matters, hide what does not, earn the reader's attention before demanding it. Browse the full Features library to see how each piece of the platform is shaped around that principle.