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The TaxLeopard software will integrate with any local bank account to capture money movements.
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Fintech start-up’s gig economy tax app enables open banking
10 November 2023
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Melbourne-based fintech start-up TaxLeopard has enabled open banking data feeds on its bookkeeping software and tax app that integrates with any local account to capture income and expenses.
TaxLeopard said its app was designed for sole traders such as tradespersons, freelancers, contractors and gig economy workers with all the
bookkeeping, invoicing and administration features necessary for ABN, GST registration, car logbook, BAS and income tax.
Co-founder Michael Kambouridis (pictured right) said the app worked on any device and catered for the increasing numbers of people turning to side hustles for extra income.
“Our app makes it super easy to stay on top of the financial implications and tax obligations that come with those endeavours, without having to change your bank account or pay expensive fees,” he said.
“By using open banking, combined with our automation and AI-enabled features, TaxLeopard is improving the quality and speed of our services, while keeping fees low.”
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Co-founder and CEO Selda Kaplan (pictured left) said the app aimed to be a virtual CFO tailored to the needs of the self-employed.
“TaxLeopard was born from first-hand experiences and mutual dissatisfaction with the lack of choice in the market,” she said.
“For a long time, the only option for a self-employed worker was to spend money for a traditional accounting service or spend some of their precious spare time to do the books and tax returns themselves.
“Our app changes all that. With open banking, we can track and categorise income and expenses directly from bank transactions.”
The fintech was on a mission to foster the success of sole traders and help to grow the gig economy, she said.
TaxLeopard was working with data platform Envestnet Yodlee and access bank transaction data available via Consumer Data Right (CDR).
Director of business development at Envestnet Yodlee Taner Uzelakcil (centre) said the company was an active and unrestricted accredited data recipient authorised by the ACCC to provide access to open banking data.
“We’re seeing growing knowledge of, and demand for, open banking enabled solutions in the areas of accounting, bookkeeping and tax,” he said.
“It’s exciting to see how bank data feeds can support the gig economy and reduce financial stress by helping self-employed Australians to stay on top of their financial admin.”
TaxLeopard was founded in 2022 by CPA qualified accountants Ms Kaplan and Mr Kambouridis.
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