Author: admin

ASB Consulting & Tax blog

Practical Advice And Updates Tailored For Business Owners And Operators.

 

Our goal is to be more than your accountant – we aim to be your business partner, offering insights that aid in your business growth. Each article is designed to deliver clear, information, assisting you in making informed decisions for your business.

 

Explore our content and use our expertise to improve your business journey.

 

For direct inquiries or tailored advice, please feel free to reach out to us through our CONTACT PAGE.
$2m Transfer Balance Cap from 1 July 2025: What to Know Now

$2m Transfer Balance Cap from 1 July 2025: What to Know Now

Threshold for tax-free retirement super increases   The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025.   Each year, advisers await the December inflation statistics to the be released. The reason is simple, the transfer balance cap – the amount that can be transferred to a tax-free retirement account – is indexed to the Consumer Price Index (CPI) released each December. If inflation

Read More »
May 5, 2025
Ban on non-compete clauses

The proposed ban on non-compete clauses

The proposed ban on non-compete clauses   In the 2025-26 Federal Budget the Government announced a ban on non-compete clauses and “no poach” agreements.   In the 2025-26 Federal Budget, the Government announced its intention to ban non-compete clauses for low and middle-income employees and consult on the use of non-compete clauses for those on high incomes (under the Fair Work Act the high income threshold is currently $175,000).   The reason? A recent Australian

Read More »
April 21, 2025
Personal tax cuts

Personal tax cuts

Personal tax cuts   From 1 July 2026, personal income tax rates will change.   Pesonal tax cuts: on the last sitting day of Parliament, the personal income tax rate reduction announced in the 2025-26 Federal Budget was confirmed. The modest reduction of 1% applies to the $18,201-$45,000 tax bracket, reducing from its current rate of 16% to 15% from 1 July 2026, then to 14% from 2027-28. The saving from the tax cut represents

Read More »
April 14, 2025
Trade wars and tariffs | ASB Consulting and Tax | Accountants Albury Wodonga

Trade wars and tariffs

Trade wars and tariffs   Global Google searches for the word “tariffs” spiked dramatically between 30 January and 2 February 2025, a +900% increase to the previous 12 months. We look at what tariffs really mean.   Who pays for tariffs? Tariffs increase the price of imported goods and reduce trade flows of that good or service.   Traditionally used to protect specific domestic industries by reducing competition, tariffs increase the price of foreign competitors

Read More »
April 7, 2025
Fringe Benefits Tax 2025

FBT 2025: What you need to know

Fringe Benefits Tax 2025: What you need to know   The Fringe Benefits Tax 2025 (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.   FBT exemption for electric cars   Employers that provide employees with the use of eligible electric vehicles (EVs) can potentially qualify for an Fringe Benefits Tax exemption. This should normally be the case where: The car is a zero or low emission vehicle (battery

Read More »
March 11, 2025
Future-proofing your business. ASB Consulting & Tax.

Future-proofing your business

Future-Proofing Your Business: Strategies for Long-Term Success   Running a business isn’t just about today, it’s about planning for long-term stability, profitability, and growth. Whether you’re preparing for industry changes, financial challenges, or expansion, future-proofing your business is essential to staying ahead.   At ASB Consulting & Tax, we work with business owners to build resilient, scalable businesses, ensuring they’re prepared for the future, not just reacting to the present.   Why Future-Proofing Your Business

Read More »
February 10, 2025
Business Consulting Albury Wodonga

How Business Consulting Can Improve Your Profitability

Business Consulting in Albury Wodonga: Helping You Improve Profitability & Cash Flow   When people think of accountants, tax and compliance often come to mind first. But at ASB Consulting & Tax, we do more than just lodge tax returns. We offer business consulting in Albury Wodonga to help business owners improve profitability, cash flow, and long-term success.   Why Business Consulting Matters for Your Success   Running a business isn’t just about making sales

Read More »
January 15, 2025
What's ahead for 2025

What’s ahead for 2025?

What’s ahead for 2025?   The last few years have been a rollercoaster ride of instability. What’s ahead for 2025 holds hope, but not a guarantee, of greater stability and certainty. We explore some of the key changes and challenges. An election   Welcome to political advertising slipping into your social media, voicemail, and television viewing – most likely with messages from the opposition asking if you are better off, and from the incumbents telling

Read More »
December 24, 2024
Christmas party tax questions

Answering your Christmas party tax questions

Tax and tinsel Q&As: Answering your Christmas party tax questions   The top Christmas party questions   What can I do to make the staff Christmas party tax deductible or tax-free?   Not have one? Ok, seriously, when it comes to Christmas party tax questions, it’s likely that you will pay tax one way or another; it’s just a question of how. If you structure your celebrations to avoid fringe benefits tax (FBT), then you

Read More »
December 19, 2024
managing Christmas volatility

Managing Christmas volatility.

Managing Christmas Volatility What makes or breaks Christmas?   The cost of living has eased over the past year but consumers are still under pressure. For business, planning is the key to managing Christmas volatility.   The countdown to Christmas is on and we’re in the midst of a headlong rush to maximise any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses.

Read More »
November 24, 2024