TaxBot is an AI-powered tax and expense app for everyone — from individuals wanting a bigger tax refund to sole traders, freelancers and small businesses in Australia and the United States. You scan a receipt or upload a bank statement, and TaxBot's AI categorises each transaction, finds the deductions you're entitled to, tracks GST/BAS, and estimates your tax in real time.

How does TaxBot help me save on tax?

TaxBot reads your receipts and bank statements and uses AI to identify every work-related expense you can legally claim — matched to your occupation — including items people commonly miss like subscriptions, tools, phone, vehicle and depreciation. Claiming more legitimate deductions lowers your taxable income, so you keep more of what you earn.

Does TaxBot handle GST and BAS in Australia?

Yes. TaxBot tracks GST collected and paid, breaks it down by BAS quarter and full financial year (1 July – 30 June), and gives you a clear net-GST figure to help you prepare your Business Activity Statement.

TaxBot is for anyone who wants to pay less tax and keep better records — everyday individuals and employees claiming work-related deductions, as well as sole traders, freelancers, contractors, gig and rideshare drivers, tradies and small business owners. If you have expenses you can claim, TaxBot helps you find and track them without an accountant doing everything manually.

Yes — you can start free with no credit card. The free Starter plan includes essential tools and a monthly allowance of AI actions. Paid plans (from $14.99/month AUD) add unlimited receipts, more AI, and extra modules like invoicing, mileage and depreciation.

Can TaxBot turn my bank statement into deductions?

Yes. Upload a PDF or image of your bank statement and TaxBot's AI extracts every transaction, detects the financial year automatically, flags likely business deductions based on your occupation, and lets you save them to your records in one step.

Side Hustle Tax: When a Hobby Becomes a Business

The line between a hobby and a business — and what crossing it means for your tax

It usually starts small. A few candles sold to friends. A weekend market stall. Some freelance design on the side. Then one month the side hustle quietly out-earns the hobby it used to be — and a question you've been ignoring suddenly matters: is the ATO expecting me to declare this?

The answer hinges on a single distinction — hobby versus business — and getting it right protects you from both an unexpected tax bill and the stress of wondering.

General information only, not personal tax advice. Verify the hobby/business indicators and registration rules with the ATO (ato.gov.au) or a registered tax agent.

Hobby or business? It's not about how much you enjoy it

A hobby is something you do for pleasure or recreation. Income from a genuine hobby generally isn't assessable, and you can't claim the costs as deductions either. A business is carried on in a businesslike, repeatable way with the intention of making a profit — and its income is assessable (with deductions available against it).

The ATO doesn't look at one thing; it weighs several indicators together.

The factors that decide it

Intention to make a profit. Are you genuinely trying to turn a profit, or just covering costs of something you love?
Repetition and regularity. One-off sales look like a hobby; regular, ongoing activity looks like a business.
Scale and organisation. Do you keep records, advertise, have a business name, invoice customers, plan?
Commercial character. Are you operating the way others in that industry operate?
Size of the activity. Bigger, growing turnover points toward a business.

No single factor is decisive — it's the overall picture. A growing Etsy shop with regular sales, marketing and a profit motive is almost certainly a business, even if it started as a hobby.

What changes when you cross the line

You declare the income in your tax return — and you can now claim deductions for the costs of earning it (materials, fees, equipment, a portion of phone/internet).
You may need an ABN. A business is entitled to one, and many platforms/clients require it.
GST if you grow. Once turnover hits $75,000 you must register for GST (rideshare from dollar one).
Record-keeping. You'll need to keep records of income and expenses like any business.

Remember: a side hustle's income is taxed on top of your salary, at your marginal rate — so it can push into a higher bracket. Setting money aside as you earn avoids a tax-time surprise.

A quick example

Maya makes jewellery. Year one: a few pieces for friends, no advertising, no profit motive — a hobby. Year two: an Etsy store, regular weekly sales, Instagram marketing, $14,000 in revenue and a clear profit goal. That's now a business: Maya declares the income, claims her materials, tools, fees and a share of her phone, and keeps records. She's well under $75k, so no GST yet — but she's watching the threshold.

How TaxBot helps

The moment your hobby becomes a business, record-keeping matters. TaxBot tracks your side-hustle income and scans your expense receipts, so you can see your real profit, claim every cost, and know exactly what to set aside for tax — without it eating your evenings.

The takeaway

If your side hustle is regular, organised and aimed at profit, treat it as a business — declare the income, claim the deductions, and keep records. It's less scary than ignoring it, and you'll usually keep more of what you earn.