By | April 27th, 2012
The concept of Personal Services Income and the rules we are about to explain all came about to address the once common practice of using company and trust structures to move income away from a key person to other family members or lower tax rate entities. Let’s start at the beginning, what exactly is regarded […]
Continue readingBy | April 1st, 2012
It is not surprising that investment in property is such an attractive proposition when the majority of Australia’s wealth is formed out of real estate. With a relatively relaxed tax treatment by world standards of investment properties, the Australian investment property is an extremely popular wealth creation strategy for medical professionals. The tax effect in […]
Continue readingBy | March 5th, 2012
As a doctor you spend a lot of your working life trying to save the lives of your patients, but what if it was your life that couldn't be saved?
Continue readingBy | February 20th, 2012
How to protect yourself if you are diagnosed with blood borne diseases such as Hepatitis B, Hepatitis C or HIV.
Continue readingBy | February 2nd, 2012
With the festive season behind us, 2011 has arrived and we now have less than 6 months of the financial year to plan for tax. For medical specialists it is important at this time of the year to review superannuation contributions and ensure that they are heading for the right mark as at June 30. […]
Continue readingBy | February 2nd, 2012
No one likes paying tax, possibly the most obvious statement anyone can make about business in Australia, but this does not mean we cannot work within the law to ensure the amount of tax is at its absolute minimum. Medical professionals are high income earners which is reflective of the rate of tax applied against […]
Continue readingBy | February 2nd, 2012
Being a GP is an opportunity to access one of the most stable incomes in the medical world and perhaps even the whole professional world. There is a range of incomes within general practice, with procedural GP’s (e.g. those who do anaesthetics, obstetric care, minor ops, skin cancer work) having access to increased financial rewards […]
Continue readingBy | February 2nd, 2012
With limited exception, a meeting with a financial planner will always involve a discussion around the risk profile of the client. This usually takes the form of several structured question to determine the client’s perception of how they view investment ‘risk’ and how volatility in their investments might impact their emotions and decisions. An aggressive […]
Continue readingBy | February 2nd, 2012
This debate is as old as the hills and will no-doubt continue forever, which is the better investment – Property or Shares. Australians are well known for their love affair with property, the dream of the quarter acre plot has been built into our psyche as a nation. It would also be fair to say […]
Continue readingBy | February 2nd, 2012
One of the biggest surprises a medical business faces in the Australian taxation compliance regime is payroll tax. The old perception that payroll tax is a tax for business with lots of employees has unfortunately created a dangerous misnomer. Payroll Tax is not a federal tax such as income tax and GST it is a […]
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