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MEDIQ Financial - Why You Shouldn’t Divert PSI to Your SMSF

Why You Shouldn’t Divert PSI to Your SMSF

Posted in IQ+,11th September 2017

Minimising the amount of tax you pay should always be an important consideration, but it is also important to know the point at which tax minimisation becomes tax avoidance in the eyes of the ATO. Former tax saving strategies such

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mediqfinancial - Review Your Personal and Practice Insurance

When and Why You Should Review Your Personal and Practice Insurance

Posted in Info Articles, IQ+, Uncategorized,14th August 2017

As a medical doctor, you can reduce your risk exposure by taking out appropriate personal and practice insurance. Personal insurance like income protection, life and disability, and trauma products can protect you against unexpected events. Public liability and medical indemnity

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The Essential Guide to Starting Your Own Medical Practice

Posted in Financial Strategy, Loans & Financing,19th June 2017

  Are you a GP or specialist thinking about setting up your own medical practice? Taking the next step into independent practice enables you to achieve your lifestyle and wealth-building goals. However, making the leap from employment to running your

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mediqfinancial - The Top 5 Forgotten Tax Deductions for Doctors (2)

The Top 5 Forgotten Tax Deductions for Doctors

Posted in Accounting & Taxation, Financial Strategy,15th May 2017

  Tax time will soon be starting again, so it’s the perfect time to review individual tax-deduction strategies – especially deductions often overlooked by doctors. We surveyed our senior medical accountants and asked them “what are the top 5 forgotten

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mediqfinancial - Is Debt Recycling a Smart Financial Strategy for Doctors

Is Debt Recycling a Smart Financial Strategy for Doctors?

Posted in Industry News, IQ+,17th April 2017

Professionals, like doctors, typically maintain high standards of living and carry high levels of debt. As a doctor, overspending and debt-servicing expenses can be a common challenge, so how do you turn around your debt situation? If you haven’t considered

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SMSF

Is a Self-Managed Super Fund Right for Doctors?

Posted in Investments & SMSF, IQ+,27th February 2017

The idea of managing your own super through a self-managed super fund (SMSF), appears to be a popular one in Australia, with over one million Aussies opting to secure their retirement nest egg in a SMSF, with total assets of

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prosandcons

The Pros And Cons Of Salary Packaging (From An Employer’s Perspective)

Posted in Accounting & Taxation, IQ+,06th February 2017

We all know that salary packaging is popular with employees, as it allows them to reduce the amount of tax that they pay. It allows the employee to pay for expenses, such as a car, laptop, or additional superannuation expenses

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Tax Deductions Every Doctor Should be Claiming

Posted in Accounting & Taxation, IQ+,20th December 2016

Medical professionals often incur a significant amount of work-related expenses, so it’s vital to ensure that you do keep records of all of these so that you can claim on them. To make sure that you do take advantage of

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The Best Ways to Choose, Manage and Retain Employees For Your Medical Practice

Posted in Financial Strategy, IQ+,11th November 2016

Whether you’re opening a new medical practice or replacing a staff member, it’s important that you dedicate a lot of time and resources to hiring and managing your employees. Hiring incompetent staff can cause a lot of problems. For example,

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medic

How to Create A Budget For Your Medical Supplies

Posted in Financial Strategy, Industry News, IQ+,28th October 2016

When it comes to running a medical practice, you want it to thrive and grow. And the best way to do that is by creating a 12 month budget. When you have a budget for your medical practice and you

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