The Coalition's Budget Reply: the business insights

Binghay Co • March 31, 2025

The Albanese Labor Government delivered its Federal Budget on 26 March, with limited focus on small businesses—mainly extending energy relief. However, the Coalition’s Budget Reply, presented by Peter Dutton the following day, included several business-focused proposals.


With the General Election now scheduled for 5 May 2025, both the Budget and the Budget Reply are crucial in outlining the fiscal approaches of each party for the year ahead.


So, how did the Coalition’s response compare to the Government’s plans?


Overview of the Coalition’s Budget Reply

The Australian Coalition's Budget Reply outlined several policy announcements that could directly impact your small business:


Instant Asset Write-Off


The Coalition plans to increase the instant asset write-off from the current $1,000 to $30,000, making this a permanent measure. This would allow small businesses to immediately deduct the cost of eligible assets, reducing their taxable income.


Business Meal Expense Deduction


A new $20,000 annual deduction for business-related meal expenses would be introduced. This initiative aims to support the hospitality sector and encourage businesses to host events and reward staff. However, some critics argue that it benefits senior executives disproportionately.


Apprentice and Trainee Incentives


The Coalition would reinstate incentive payments for employers to hire and train apprentices. Small and medium-sized businesses would receive $12,000 to support new apprentices or trainees in critical skills areas, particularly in the building and construction sector.


Regulatory Burden Reduction


The Coalition has committed to removing regulatory burdens, where possible, particularly where there’s duplication across local, state and federal governments. This aims to reduce what’s seen as the growing compliance burden on small businesses.


Energy Costs


The Coalition’s national gas plan aims to reduce gas prices, potentially lowering operating costs for small businesses. The Coalition also supports nuclear energy, arguing it could be more affordable than renewable energy solutions.


Fuel Excise


The Coalition would halve the fuel excise for 12 months, which would reduce transportation costs for businesses that rely on vehicles.


Talk to us about the impact of the Budget Reply

It’s still uncertain which party will be in power come 6 May. If you’re concerned about the potential outcomes and how they could affect your business, let’s talk.



Our team is ready to walk you through the implications of these proposals and how they might impact your business in both the short and medium term.

Binghay & Co is a leading Accounting and Business Advisory firm based in Docklands, Melbourne, proudly servicing clients across Australia.

Making your business work for you: making enough to retire

By Binghay Co • April 22, 2025
As a business owner, you may love running your company, but there’s always the underlying thought that, one day, you’ll need to sell and retire. With global markets in flux and an uncertain future, how can you ensure your business is worth enough when the time comes to sell? Let's look at the core ways your business can be structured to deliver on your own personal, family, philanthropic and leisure goals, now and into retirement. Creating a business that will fund your retirement plans Your business should be your retirement nest egg, but how do you ensure it holds its value for a comfortable retirement? Here are five strategies to boost your business’s value, ensuring you get the return on investment (ROI) needed when it’s time to sell. Build a business that can run without you To maintain its value at sale, your business must operate independently of you. Systematise your operations and create scalable processes, so the day-to-day functions are not solely reliant on you. A strong management team that can run the business without you is essential. Autonomy increases the business’s appeal to potential buyers, who want to ensure the company will thrive even after the founder leaves. Focus on recurring revenue streams Recurring revenues provide stability and increase your business’s value. Consider subscription services or other predictable income sources. Recurring revenue models significantly raise business valuation multiples, often by 2-3 times compared to transaction-based models. With a stable income structure, you can sell your business for a premium price, giving you the capital needed for retirement. Invest in intellectual property and licensing Intangible assets like intellectual property (IP) and brand equity can significantly enhance your business’s value. Consider developing products, processes, or technologies that can be patented and licensed. This creates passive income and appeals to buyers looking for businesses with valuable, long-term assets. Keep detailed records and keep finances healthy A business with a solid financial track record is more attractive to buyers. To boost your business’s appeal, maintain strong financial health, a good credit score, and positive cash flow. Rigorous financial tracking and clean books with 3-5 years of profitability will justify higher valuations and greater ROI, making your business a more desirable asset. Create a strategic exit plan well in advance of retirement The key to a successful exit is planning well in advance. Work with your advisors to enhance the business’s value, identify ideal buyers, and structure your exit in a tax-efficient manner. Ideally, start your exit strategy 3-5 years before retirement to ensure you have time to focus on succession planning, boosting business value, and securing enough capital for your retirement needs. Helping you secure your income and lifestyle You’ve worked hard to build your business, and you deserve a fulfilling, comfortable retirement. But to make that a reality, it’s crucial to plan ahead. Start working on your exit strategy now. Come and have a chat about your retirement plans and exit strategy. We can also introduce you to independent financial advisers who can offer personalised wealth management advice.

Federal Budget 2025-26: what it means for your small business

By Binghay Co • March 26, 2025
On 25 March, Treasurer Jim Chalmers delivered the Federal Budget. So, what does it mean for small business owners? Here’s a quick rundown of the key opportunities for your business. #FederalBudget #Budget #BusinessTips

How to optimise your business: six areas to focus on

By Binghay Co • January 25, 2025
The new financial year is already in full swing, meaning most of you are still finalising your general ledger accounts in order to get the necessary information to us to prepare your final 2024 accounts and tax returns. Others have already got us your information and are looking ahead. Either way, it can be a time when we forget our current tax obligations, due in relation to the beginning of the 2025 financial year. In order for you to be across your tax obligations, below are the key compliance dates that are coming up. Make sure these lodgments are up to date to avoid any interest or penalties. KEY TAX DATES – SEPTEMBER/OCTOBER 2024 21 September 2024 – GST – Monthly Activity Statement and payment for August 2024 21 September 2024 – PAYG withheld – Monthly activity statement and payment for August 2024 21 September 2024 – PAYG instalment – Activity Statement and payment for monthly reporters for August 2024 30 September 2024 – TFN withholding report – Annual TFN withholding report for closely held trusts where a trustee has been required to withhold amounts from payments to beneficiaries during the 2024 income year 30 September 2024 – PAYG withholding payment summary – 2024 income year annual report due if lodged by us 21 October 2024 – GST – Monthly Activity Statement and payment for September 2024 21 October 2024 – PAYG withheld – Monthly activity statement and payment for September 2024 21 October 2024 – PAYG instalment – Activity Statement and payment for monthly reporters for September 2024 21 October 2024 – Annual PAYG instalment – Payment of annual PAYG instalment for 2023–24. Lodge only if instalment amount varied or the rate method to calculate the instalment is used 28 October 2024 – GST – Quarterly Activity Statement and payment for the July to September 2024 quarter if you do not lodge with us 28 October 2024 – PAYG withheld, FBT instalment and PAYG instalment – Quarterly Activity Statement and payment for the July to September 2024 quarter if you do not lodge with us 28 October 2024 – Superannuation guarantee – Due date for superannuation guarantee contributions for July to September 2024 31 October 2024 – Income tax – Due date for lodgment of 2023–24 income tax return for individuals, trusts and partnerships if you do not lodge with us 31 October 2024 – GST – Lodgment of annual 2023–24 GST return for instalment payers who are required to lodge tax returns by 31 October 2024 31 October 2024 – Companies – To provide distribution statements to shareholders for 2023–24 for most companies 31 October 2024 – Income tax – Due date for lodgment of 2023–24 income tax return for an entity that has one or more prior year tax returns outstanding as at 30 June 2024 31 October 2024 – SMSFs – Annual return for new registrant SMSF if the ATO has provided this due date We’re here to help if you’re facing operational issues, tackling people challenges, or have health and safety questions, give us a call or email us.