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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
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
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
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
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.
Payday super: the details ‘Payday super’ will overhaul the way in which superannuation guarantee is administered. We look at the first details and the impending obligations on employers. From 1 July 2026, employers will be obligated to pay superannuation guarantee (SG) on behalf of their employees on the same day as salary and wages instead of the current quarterly payment sequence. The rationale is that speeding up the payment sequence for SG
The rise in business bankruptcy ASIC’s annual insolvency data shows corporate business failure is up 39% compared to last financial year. The industries with the highest representation were construction, accommodation and food services at the top of the list. Restructuring appointments grew by over 200% in 2023-24. Small business restructuring allows eligible companies – those whose liabilities do not exceed $1 million plus other criteria – to retain control of its business while
Divorce, you, and your business Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of issues that need to be resolved when it comes to divorce, you and your business. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid from the company will need to be assessed.
What’s ahead for 2024-25? Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the superannuation guarantee (SG) rate increased by 0.5% to 11.5%. For employers, it’s critically important to ensure that your
Trust Distributions Warning The ATO has warned that it is looking closely at how trusts distribute income and to who. The way in which trusts distribute income has come under intense scrutiny in recent years. Trust distribution arrangements need to be carefully considered by trustees before taking steps to appoint or distribute income to beneficiaries. What does your trust deed say? An area of concern is that trustees are not considering