TaxLess is a simple to use app that will help you with your next tax return. TaxLess optimises your next tax return by comparing your deductions with people like you.
We took open ATO dataset, applied some predictive analytics to understand which socio-economic catergory you fall under and created web tool that discovers where your deductions are falling short and what can you do about them.
How we do it
Initially, TaxLess asks you to complete a short form about yourself and your income. Alternitavely, you can upload your tax return from the previous year and we will automatically fill this form for your convenience. By using Machine Learning algorithms, we group you with similar taxpayers, and find out how you rank in the various deduction categories among them.
A significant difference likely indicates that you are either under claiming or under investing. For example, you may be self-contributing nothing to supperannuation when others are doing 10% of their income, or you simply forgot to report expenses.
Going beyond your tax return
Our aim is to empower users with no statistical or finance background to understand how tax return works and ultimately to help them to claim optimal amount of money.