Why property investors should use purpose-built software

For investors looking to maximise returns and streamline tax reporting, having the right tools is essential. While spreadsheets and generic accounting software may seem sufficient, they often lack the tailored features that property investors need. That’s where purpose-built software like TaxTank comes in. In this blog, we explore why property investors should use a dedicated platform and how integrating TaxTank with Sharesight can simplify portfolio management and tax reporting.

The challenges of property investment management

Property investments demand far more hands-on management than shares or ETFs. Beyond simply buying and selling, landlords and investors must juggle a range of expenses, track every deductible item, and stay alert to ongoing regulatory changes. Here are four key pitfalls of managing property investments manually:

1. Missed or incorrect deductions

Interest, maintenance and depreciation quickly blur together without robust tracking. Overlooked or misreported expenses mean you’re essentially handing extra money back to the ATO.

2. Capital gains tax & changing rules

Renovations, shifting property use, and evolving regulations complicate capital gains calculations. Missing a key detail or failing to track improvements can mean losing out on grandfathered benefits, or worse, overpaying on CGT.

3. Missed opportunities without live data

Only reviewing your tax position at year’s end makes it tough to tweak strategies on the fly. Real-time insight is key to maximising deductions, adjusting usage and seizing mid-year tax advantages.

4. ATO data-matching pressure

Advanced ATO technology flags any inconsistencies, from small oversights in expense claims to larger errors in apportioning interest on loans. This raises the risk of audits and penalties, creating both financial and administrative headaches.

Why use a purpose-built solution for property investors?

Property investment software like TaxTank is designed specifically to handle the unique challenges of property investors, offering features that simplify tax and financial management.

1. Real-time tax tracking

Unlike spreadsheets or traditional accounting software, TaxTank consolidates all your properties, portfolios, other assets and income sources in one place. Thanks to ongoing, real-time tax calculations, you can monitor your estimated tax position throughout the year and make strategic decisions well before tax time.

2. Live bank feeds and market values

TaxTank automatically pulls live bank feeds for effortless transaction categorisation, ensuring no deductible expense goes unclaimed. Permanent document storage keeps receipts and invoices organised and audit-ready. With CoreLogic integration, you also get real-time market value estimates and growth forecasts for more informed decision-making.

3. Depreciation & borrowing expense tracking

TaxTank automatically tracks depreciation for buildings, assets, renovations and borrowing expenses, using smart rules to maximise claims year after year. With live reporting of your tax, cash flow and gearing, no valuable deductions slip through the cracks, keeping you firmly in control of your property investment strategy.

4. Capital gains tax calculations

When it comes time to sell, TaxTank calculates CGT automatically, factoring in purchase costs, improvements, selling expenses, holding costs for land and relevant grandfather provisions over time. This helps avoid expensive mistakes and ensures investors stay compliant with tax regulations.

Why not just use small business accounting software?

While software like Xero, MYOB, and QuickBooks are fantastic for small businesses, they aren’t designed specifically for property investors. These platforms focus on invoicing, payroll, and business expense tracking rather than the unique needs of property investors, such as depreciation, loan interest tracking, and capital gains tax calculations. Using a purpose-built solution like TaxTank ensures you get the right tools for optimising your property investment portfolio.

Integrating TaxTank with Sharesight

For investors managing both property and shares, tracking performance across asset classes can be a challenge. That’s why TaxTank integrates with Sharesight, allowing users to get a complete view of their investment portfolio in one place.

With the TaxTank and Sharesight integration, investors can:

• Track their entire investment portfolio in one place, including property, stocks, ETFs and crypto
• Ensure accurate tax reporting across multiple asset classes with automated calculations year round
• Access real-time insights to make better investment and tax decisions.

Investors can effortlessly track all their multi-asset investments in one place with Sharesight’s portfolio tracker.

Get started with TaxTank and Sharesight

If you’re ready to simplify your property investment management, sign up for a TaxTank account today.

And if you’re not already using Sharesight, create a FREE account to track your property alongside your shares, ETFs and other investments for a complete portfolio overview.

Disclaimer: This article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.