Double Tax Trap Explained (Most Owners Don't See It Coming) #tax #business #tips

Added: 2026-05-24

[00:00:00]And this is something that [music] I see catch a lot of business owners every single year.

[00:00:05]Especially those who are returning to profit after a difficult [music] period.

[00:00:09]If your business made a loss or low profit last year, your PAYG tax installments were set very low or even zero.

[00:00:16]Now, if your profit is back up which means when you lodge this year's return, two things are going to happen at once.

[00:00:23]You're going to pay tax on this year's income.

[00:00:26]And then, your installments for next year are recalculated upward.

[00:00:31]Because the ATO bases them on what you've just earned, your most recent tax return lodged. That's two lots of tax landing in a very short window.