By | February 2nd, 2012
Medical professionals who derive any portion of income via the public system have the opportunity to save tax by salary packaging various items that would otherwise not be deductible for personal tax purposes. For many this would include mortgage payments, utility bills, entertainment expenses etc. This works well for both the employer and employee as […]
Continue readingBy | February 2nd, 2012
More than most professions, every doctor has undergone extensive education to achieve their vocational qualification. The importance of quality education is clear and this usually translates to a desire to educate the next generation in high quality schools and tertiary establishments. It seems that every year around this time there is a scattering of articles […]
Continue readingBy | February 2nd, 2012
Being a medical professional you will always pay your fair share of income tax for the wider community. Ever ask yourself ‘when will the tax office do something for me?’ Well the following is a series of concessions for Small Business that may be available for your medical practice. To be eligible for these concessions […]
Continue readingBy | February 2nd, 2012
This is a common discussion we have with our clients seeking to accumulate a specific lump sum, to maybe take the sting out of private education costs or possibly to give a child a helping hand with the deposit on a first property. Whether it be the wish of the parent or the grandparent, investing […]
Continue readingBy | February 2nd, 2012
It would not be a surprise to anyone that the accounting in your medical practice at the bottom of priorities. The paperwork, the management of cash, your debtor and creditor list create a compliance program that does distract you from what you are trained to do, practicing medicine. However the power of accurate, timely accounting […]
Continue readingBy | February 2nd, 2012
As accountants/financial advisers catering only to medical professionals and their families, we see an ever increasing complexity in regard to managing personal finances. The aspirations of better tax management and enhanced asset protection constantly inspire new strategies that are available to consider and potentially apply to our clients. For many the goal of wealth creation […]
Continue readingBy | February 2nd, 2012
Just as the global capital markets continue to thaw out following the GFC, so too is the competition returning to the mainstream mortgage and investment debt markets. Following 3 months of contracting mortgage figures, May showed a solid recovery with mortgage sales increasing by 18.8% according to the AFG Mortgage Index. Property markets around the […]
Continue readingBy | February 2nd, 2012
A concept gathering strong momentum in the US at the moment is the idea of Lifecycle Investing or target date investing. So what is this and is it anything particularly radical? The concept of Lifecycle investing is that the appointed manager is investing your funds with a specific target date in mind, your retirement. The […]
Continue readingBy | February 2nd, 2012
In preparation for the end of the financial year 30th June 2011 there are some things you can do for your medical practice that will help with the compliance work required. By implementing an effective tax strategy, you can minimise you income tax obligations. The following is a list of items relevant to your medical […]
Continue readingBy | February 2nd, 2012
The world of superannuation is a constantly evolving legislative environment, and at the more complex end of the spectrum are the rules around self managed superannuation. The Smart Money section of the weekend Australian Financial Review had some interesting statistics on those who have chosen to establish themselves in a self managed fund. Not surprisingly […]
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