myDeductions is a free tool built into the official ATO app: a place for individuals to log work expenses and car trips, and for sole traders to also record income, ready to upload at tax time. 2Fin is a separate, independent product with a different job — it reads your bank feed automatically, categorises every transaction, surfaces deductions as they happen, and keeps running books through the year rather than a once-a-year record. 2Fin is not affiliated with or endorsed by the Australian Taxation Office.
Built differently where it counts — here is how.
myDeductions records what you remember to enter. Here the bank feed does the recording, each row says where its category came from, and Fin writes a short read of what changed — so the record exists whether or not you opened the app that week.
Every transaction is scanned automatically as it arrives, rather than relying on you to remember to photograph a receipt or log a trip.
GST tracking, spending patterns and BAS figures build up through the year, so tax time is a review rather than the first time anything was organised.
Ask ChatGPT or Claude about your real finances through the 2Fin MCP integration — a capability no record-keeping app offers.
2Fin covers Australia, the UK, the US, Canada, India and more, for anyone whose work or income crosses a border.
The same situation, in both
You drive to client sites most weeks and want the claim right at tax time.
You log each trip in the ATO app as you drive and photograph receipts, then upload the record to myTax or send it to your tax agent.
Fin keeps a vehicle logbook with trips, odometer readings and a work share, works out cents per kilometre with the 5,000 km cap, and the fuel, tolls and parking from your bank feed are already categorised — exported in the myDeductions layout for you or your agent.
myDeductions is a free tool built into the ATO app, run by the Australian Taxation Office, with no paid tier or business features. 2Fin starts free too, with live bank feeds from your own provider account on every plan and automatic categorisation and deduction surfacing on the Premium plan (US$23/month).
Based on publicly available information. Competitor features and pricing may change — verify directly.
Three things you notice in the first week with 2Fin, whichever tool you are coming from.
A 3D calendar of every transaction in six layouts on every plan, and on ELITE+ an expense terrain, a pattern map and a cash-flow Sankey you can turn and zoom.
Interactive views →Each category projects where you will land from what you have spent so far, flags what is running ahead and suggests limits from your real spending — free.
Budget allocations →An Integrations API, API keys, signed webhooks and an MCP server, documented end to end — and invoices from any tool, tracked to paid.
For developers →Both are good tools — the right pick depends on what your business needs most.
2Fin is free to start. Premium is US$23 a month (US$222 a year), ELITE+ is US$42 a month (US$432 a year) and AUTO+ is US$54 a month (US$555 a year), billed in US dollars.
Hover, tap or tab to any underlined feature to learn more.
For getting every record in one place, at no cost.
Included
For employees and sole traders who want every deduction found and the busywork done.
Everything in Free, plus
For businesses and accountants who lodge, report and keep the books.
Everything in Premium, plus
For owners who want receipts and reports to arrive on their own.
Everything in ELITE+, plus
Swipe to see every plan
| Feature | FREEUS$0 | PREMIUMUS$23 / month | ELITE+US$42 / month | AUTO+US$54 / month |
|---|---|---|---|---|
| Capture | ||||
| Statement uploads into bucketsCSV, Excel or PDF. On the free desktop app, statements come in through the CSV import instead | Included | Included | Included | Included |
| Live feeds from your own sheet or bank-feed accountA Google Sheet, or a provider account you hold such as SimpleFIN or BankSync | Included | Included | Included | Included |
| Photo and PDF receipts, read and matchedRead in the language they are printed in | Not included | Included | Included | Included |
| Forward receipts by email | Not included | Not included | Not included | Included |
| Organise | ||||
| Transactions, categories and bills in one placeIncluding recurring payments | Included | Included | Included | Included |
| Upcoming bills, pay days and money you are owedPayments matched to what you are owed as they land | Included | Included | Included | Included |
| Budgets against what you actually spent | Included | Included | Included | Included |
| Travel and vehicle trips | Included | Included | Included | Included |
| Properties: what each one really costsRented, business and private parts | Included | Included | Included | Included |
| Automatic categories | Not included | Included | Included | Included |
| Your own categorising rules | Not included | Included | Included | Included |
| Spending and bills analytics | Not included | Included | Included | Included |
| Views by project, client or tax purposeCalled Lenses in the app; the Properties lens is built in on every plan | Not included | Not included | Included | Included |
| Tax | ||||
| Tax analysis that knows your situation | Not included | Included | Included | Included |
| Tax exports, including ATO myDeductions | Not included | Included | Included | Included |
| Tax reports and summaries | Not included | Not included | Included | Included |
| BAS, VAT and GST statements | Not included | Not included | Included | Included |
| Asset register, depreciation, profit & loss and TPAR | Not included | Not included | Included | Included |
| Property write-offs and scheduleDepreciation, capital works, a schedule for your accountant | Not included | Not included | Included | Included |
| Automate | ||||
| Ask Fin about your money | 25 messages a month | Unlimited | Unlimited | Unlimited |
| Fin reads the files you upload | Not included | Included | Included | Included |
| Fin, your assistant, with its own workspace | Not included | Not included | Included | Included |
| Your week in review, on the dashboard | Included | Included | Included | Included |
| Signed webhooks for Zapier, Make and n8n | Not included | Not included | Not included | Included |
| Reports emailed on the schedule you set | Not included | Not included | Not included | Included |
| Share | ||||
| Push to Google Sheets, Excel, Notion or AirtableBank-feed transactions included | Not included | Not included | Included | Included |
| Send transactions to Xero or QuickBooks OnlineCoded, with the receipt attached | Not included | Not included | Included | Included |
| Practice workspace for accountantsYour clients can be on any plan | Not included | Not included | Included | Included |
| Connect Claude or ChatGPT, with the access you approveWhat they can read follows your plan | Included | Included | Included | Included |
| Desktop app, with your data on your machine | Included | Included | Included | Included |
Enterprise-grade data control is the default here — on every plan.
Your records can stay on your own machine or in your own cloud, telemetry stays off unless you turn it on, and Fin keeps an auditable record of everything it sends. Enterprise adds the people and the paperwork: dedicated support, custom deployment and reviews for large-scale operations.
Verify it yourselfmyDeductions is a free record-keeping tool inside the official ATO app — individuals can log work expenses and car trips, and sole traders can also record income, ready to upload into myTax or send to a tax agent at tax time. 2Fin is a separate, independent product: it reads your bank feed automatically, categorises transactions and surfaces likely deductions as they happen, and keeps running books through the year rather than a once-a-year log. 2Fin is not affiliated with or endorsed by the ATO. 2Fin helps you find and organise potential deductions; always confirm eligibility with your accountant or tax authority.
Yes. Some people use 2Fin year-round for automatic bank-feed categorisation and deduction surfacing, and still keep myDeductions for anything captured on the go. The two are not mutually exclusive — myDeductions is a government record-keeping tool, 2Fin is a bookkeeping and deduction-intelligence product.
You lodge, with 2Fin’s figures in hand. 2Fin organises your transactions, categorises them, surfaces potential deductions and exports them in the ATO myDeductions layout with a suggested return line on each work expense, ready for you or your accountant at lodgement. myDeductions is built by the ATO and uploads directly into myTax or to a registered tax agent — the official route, which 2Fin’s exports are shaped to sit beside. 2Fin helps you find and organise potential deductions; always confirm eligibility with your accountant or tax authority.
Mostly. Employees can log expenses and car trips, and sole traders can also record income. It does not track GST, prepare a BAS, or reconcile a bank feed — for an ongoing business, most sole traders pair it with, or replace it with, a bookkeeping tool like 2Fin. 2Fin helps you find and organise potential deductions; always confirm eligibility with your accountant or tax authority.
myDeductions keeps its records on your phone until you upload them to myTax or send them to a tax agent. 2Fin runs as a hosted service too, and also ships as a desktop app for Windows (macOS and Linux to follow) where your database and receipts are files in a folder you own — you can open it, copy it and back it up, and the free plan needs no account. The desktop app lists every outbound request it makes, with a switch for each connection, and if you bring your own provider key or run a local model, nothing of yours has to reach 2Fin’s servers at all.
The parts of 2Fin behind the comparison above — what each one does for you, and how it reaches the answer.
Ten real transactions walked through the categorisation chain, so you can see why each one landed where it did rather than take it on trust.
Asset register & depreciationLog a purchase once: the effective life, each year’s decline and your private-use share are carried for you as separate columns.
Tax treatment & activity statementGST and tax treatment worked out line by line as transactions arrive, and the activity-statement view that follows from them.
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