Budget Alert 2025 - What about my business?

Budget 2025 potentially affects different sectors of the economy in different ways. What are the risks and opportunities for your business?

If your business is retail, it remains to be seen whether Budget 2025 will bolster consumer confidence to a point where the retail sector can rebound the way it’s been hoping to.

Investment Boost and associated measures will bring some welcome tax relief and encourage spending on business assets to boost productivity. But with tax incentives, a key question is whether businesses have the funds to spend in the first place.

In the building sector, the injection of funds into infrastructure should spur activity for construction and adjacent industries, generating employment and whetting the appetite to invest in productive assets.

However, the increased funding of $35m/year for Inland Revenue audit and debt enforcement should put taxpayers on notice to be vigilant about their tax obligations and manage tax debt proactively.

As ever, the Budget doesn’t exist in a vacuum. Global economic uncertainty remains a limiting factor, with many businesses cautious about over-extending, although some are working hard to see opportunities despite the uncertainty.

Let us know your concerns about your specific business. We can discuss how Budget 2025 might affect your plans, and what the risks and rewards might be.