TaxLeopard taps Melbourne's InnovateGPT for AI tax solution

Melbourne-based AI consulting firm InnovateGPT has partnered with TaxLeopard to develop an AI tax assistant for sole traders. 

TaxLeopard, which offers an accounting platform for sole traders, said it has brought on InnovateGPT to "accelerate" its existing AI capabilities formed via its partnership with RMIT University.

InnovateGPT brings over 100 years of combined experience to the project, with its executive team formerly holding senior roles at the likes of Microsoft and Google.

The company has provided generative AI (GenAI) consulting services since 2017 and has helped establish over 15 joint-venture Australian GenAI companies across sectors including education, energy, sustainability, construction, health and life sciences, and financial services. 

“We’re delighted to be joining TaxLeopard and RMIT in developing what is set to be an industry-shaking technology. The AI-in-accounting market has huge potential," said George Stavrakakis, CEO at InnovateGPT Group.

"It’s predicted to reach US$15.69 billion globally in 2027, and by developing a sophisticated smart accounting assistant, we’ll be helping TaxLeopard solve a major pain point for SMBs and sole traders, who spend as many as 15 hours a week on financial admin."

"The depth of personalisation and the real-time assistance capabilities that TaxLeopard aims to offer with its Smart Tax Assistant will solve plenty of headaches for the smallest of businesses and may set a new benchmark in the industry."

Founded in 2022 by accountants Selda Kaplan and Michael Kambouridis, TaxLeopard is a Melbourne-based platform which helps sole traders, freelancers and contractors manage their taxes, with CPA accountants managing the tax compliance.

“Our collaboration with InnovateGPT is a bold step towards redefining the landscape of tax management through AI-driven innovation," said Selda Kaplan, CEO and co-founder at TaxLeopard.

"By harnessing the disruptive power of Generative AI, we're setting a new standard for service excellence and technological advancement in the industry."

"TaxLeopard and InnovateGPT – with the support of the incredible team at RMIT –  are together crafting a future where managing taxes is not just easier, but a seamless part of doing business, empowering sole traders across Australia to focus on what they do best – running their business.” 

Responsible AI specialist at RMIT Jeffrey Chan said “InnovateGPT will play a critical role in bringing what we’re envisioning to life.

"With the addition of InnovateGPT, we are developing a complementary mix of capabilities."

"TaxLeopard brings its rich tax and accounting expertise, InnovateGPT brings its team’s unrivalled experience in developing leading-edge technologies at some of the world’s biggest companies, and we at RMIT bring our ability to develop machine learning and predictive algorithms at scale. It’s a potent combination that we believe can build something really special.”