2025 FEDERAL ELECTION

The 2025 Federal Election is just around the corner, and like every election, it’s raining promises.

If you’ve been too busy running your business to follow every twist and turn in the campaign trail (understandable), we’ve got your back at Hills Accounting. While the final policy details are still unfolding, some of the early headlines are already raising eyebrows — and questions — for small business owners across Tasmania.

So, we’ve done the legwork to highlight a couple of key proposals from both major parties, and more importantly, what they could mean for your business. As always, we’ll keep it practical and jargon-free, and, of course, these policy possibilities could change as we get closer to the election. So let’s get into it. 👇

💻 Instant Asset Write-Offs: A Familiar Favourite with a Twist

Labor’s approach? Extend the $20,000 instant asset write-off for another year.

The Coalition? Wants to crank things up by making it permanent — and lifting the threshold to $30,000.

What this means for you:
The instant asset write-off has been a bit of a rock star for small businesses — allowing you to immediately deduct the cost of new assets (hello, shiny new laptop or second-hand ute).

If the Coalition gets its way, we might see a higher threshold and more predictability. That’d make it easier to plan business investments year-on-year. But if Labor retains government, expect another short-term extension. Either way, we’ll be ready to help you make the most of whatever rules come into play.

⚡ Energy Policies: A Little Spark or a Big Bang?

Labor is focusing on clean energy investments — like battery programs for households (which could trickle into business incentives).
The Coalition has its eyes on industrial gas prices, promising to slash them by 15% under a new national plan.

What this means for you:
If your business runs on gas or electricity (so, most of them), these policies could influence your operating costs in the next few years. While it's early days, energy-related deductions and grants could be worth exploring — especially if you’re thinking about upgrades. We’ll keep you in the loop.

📋 Staffing Rules: Contracts May Need a Rethink

One big-ticket item in Labor’s plans is a proposed ban on non-compete clauses for workers earning under $175,000.

What this means for you:
If you have contracts that prevent employees from jumping ship to competitors, it may be time for a review. This policy, if implemented, could limit how restrictive your employment terms can be.

No need to panic — nothing’s set in stone yet. But if you’re unsure what this might mean for your business, your lawyer and accountant (hi!) will be your best allies.

🧾 Tax and Compliance: Help or Hype?

Both parties are singing the “support for small business” song — though their verses are a little different.

Labor is hinting at more targeted support (like sector-specific grants).
The Coalition is leaning towards broad, long-term tax relief and simplifying the system.

What this means for you:
Less paperwork and more support? Yes please. But we’re not holding our breath until we see the detail. If any changes roll through, we’ll help make sure your tax planning stays on track — with no last-minute surprises.

🌍 Export and Trade: Not Just for the Big Players

With trade tensions simmering globally, Labor’s proposing a $1 billion loan program to help Aussie exporters find new markets and rely less on the US.

What this means for you:
Even if you’re just thinking about selling overseas, this could be worth a look. Government-backed support often makes it easier (and less scary) to explore international growth. We’ll flag any funding opportunities that make sense for your industry or goals.

🧠 So... What Should You Do Right Now?

Honestly? Nothing drastic.

Election policies are famous for changing after they’re announced — or even after they’re elected. So while it’s smart to stay informed, it’s even smarter not to chase headlines.

We’ll be keeping a very close eye on the election outcome, and once the dust settles, we’ll help you interpret what matters for your business.

📞 Need a plan that works no matter who wins?

That’s where we come in. At Hills Accounting Hobart, we’re here to help you make confident, informed decisions — no matter what side of politics is in charge.

Let’s chat if you’re:
✔️ Planning a major business purchase
✔️ Hiring or restructuring your team
✔️ Wanting to improve cash flow or manage tax better

We’ll keep you ahead of the curve, and maybe even make tax feel slightly less boring in the process.

Remember, this article is general in nature and doesn’t take into account your specific objectives, financial situation, or needs. For advice tailored to your circumstances, have a chat with us at Hills Accounting Hobart.

Talk to Kathy and the team today and stay ahead with Hills Insights.
Call Now! 03 6273 7800, or email admin@hillsaccounting.com.au.