Some Things Business Owners Should Watch For
With the 2025 Federal Election almost upon us, the business insurance Tasmania needs is right here at RSM Tasmania. The million-dollar question for business owners is: Will any of this actually affect me?
The short answer? Yes — maybe.
While the policies are still evolving (and politicians aren’t exactly known for sticking to a script), a few early announcements are already hinting at changes that could shape your risk, coverage needs, and operating environment.
At RSM Tasmania Insurance Brokers, we’ve rounded up the proposals that small and medium-sized businesses might want to keep an eye on — and added our thoughts on what they could mean for your risk exposure and insurance priorities. Let’s break it down. 👇
💼 Instant Asset Write-Offs: Great for Growth — and Risk Consideration
Labor’s Promise: One-year extension of the $20,000 instant asset write-off.
Coalition’s Plan: Make it permanent, and bump it up to $30,000.
What It Might Mean for You:
Buying new gear, expanding the business, or upgrading your vehicle? Fantastic — but don’t forget to check your coverage.
New assets, whether they’re in the office, warehouse, or out on the road, need to be insured correctly from day one.
Let your broker know before the ink dries on any purchase — so your shiny new equipment doesn’t become an uninsured headache.
⚡ Energy Reforms: Potential Cost Relief, Hidden Coverage Gaps
Labor’s Approach: Incentives for clean energy, including batteries and infrastructure.
Coalition’s Angle: Lowering gas prices by 15% for domestic industrial users.
What It Might Mean for You:
Energy changes could affect your operating costs — but also introduce new risks. Installing batteries? Solar upgrades? You’ll need to consider how these affect your property policy or business interruption cover.
Let’s make sure your insurer knows before something sparks trouble.
📋 Workforce and Employment Changes: Flow-on Effects for Liability
Labor is proposing a ban on non-compete clauses for employees earning under $175,000.
What It Might Mean for You:
While this sounds like a staffing/HR issue, it could open up new risks — especially if you’re in a competitive industry where intellectual property or client relationships are vital.
If these changes affect your contracts or employee structure, you may need to revisit your Management Liability or Cyber Liability policies to stay fully protected.
🧾 Policy Changes and Compliance: Stormy or Smooth?
Both parties are promising support for small businesses — with the Coalition leaning toward reduced red tape and Labor looking at targeted grants and stimulus.
What It Might Mean for You:
More change is coming, and with change comes risk. As always, we recommend regular risk reviews — especially after a budget, election, or major business shift.
If you’re expanding, diversifying, or just updating the way you work, make sure your coverage evolves too.
🌏 Global Trade and Export Risk: Shifting Markets = Shifting Risks
Labor’s new export policy: A $1 billion loan program to reduce reliance on US trade markets.
What It Might Mean for You:
Exporting? Thinking about it? Global risk is a very different beast — and it’s crucial your insurance program reflects where you’re doing business.
Marine cargo, trade credit, transit risk… even political risk cover might be worth considering if you’re venturing further afield. We can help you plan for it.
💡 Final Word: Uncertainty Is a Given — Preparation Is Power
Regardless of who wins, we know this much: policy shifts will follow, and businesses like yours will need to adapt.
At RSM Tasmania, we’re here to help you look ahead, assess how changes might affect your risk, and adjust your cover so there are no surprises down the road. That’s what local brokers do best.
📞 Not sure if your cover still fits your business?
Let’s have a no-pressure chat. Whether you’re expanding, reducing, relocating, or just feeling like things have changed — we’re ready to help.
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 RSM Tasmania Insurance Brokers Hobart.
Talk to Roger Hosie and stay ahead with RSM Tasmania’s insights.
Call Now! (03) 6244 7854, or email .
