By | October 28th, 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 stick to it and revise it on a yearly basis, you can increase your chances […]
Continue readingBy | September 27th, 2016
Maximising your superannuation and investing in your own future is a hallmark of any savvy Australian. For doctors, who spend a few additional years in training compared to most other university trained professionals, starting your plan early is doubly important. If you haven’t started yet, it’s not the end of the world. However the sooner […]
Continue readingBy | August 29th, 2016
Many doctors are so busy managing the patient side of their practice, they end up neglecting the financial elements of their business. Others are distrustful of financial advisors, while some are just complacent about their finances.
Continue readingBy | August 1st, 2016
Becoming a doctor is no easy feat. With the many years of studying and the associated expenses, it should be of great consolation that medical professionals are some of the highest paid people in the world. Medical professionals are constantly in high demand, with many various specialties available to budding young healers.
Continue readingBy | July 28th, 2016
Doctors and specialists running their own medical practices are operating in a dramatically changing environment. Regardless of your area of specialisation, you have probably noticed that many patients are becoming empowered consumers, as they have access to an extensive selection of health-related information online. For doctors, this change in consumer behaviour and the rise of […]
Continue readingBy | July 11th, 2016
Becoming a doctor is no easy feat. With the many years of studying and the associated expenses, it should be of great consolation that medical professionals are some of the highest paid people in the world. Medical professionals are constantly in high demand, with many various specialties available to budding young healers.
Continue readingBy | June 28th, 2016
Gone are the days where all a doctor needed to do to be successful is set up shop. Today’s medical professionals need to be wary of the ways they can engage with new potential patients and how patients can find out about them. We’re going to take a look at the reasons why doctors need […]
Continue readingBy | May 27th, 2016
Being prepared is the key to success, and stagnation is an easy path to failure. Having a simple plan for the continual progress of your medical practice is a pretty common sense approach, but it’s tricky to ascertain exactly how often you should rethink, add to it, or get rid of things that aren’t working. […]
Continue readingBy | April 6th, 2016
As a medical professional in Australia you are generally considered a high-income earner, and as such the rate of tax applied is also high. This can be extremely frustrating, but even more so if you are a business owner as well. In this instance, you are not eligible for the 30% tax rate on ‘personal […]
Continue readingBy | March 30th, 2016
Personal Services Income (PSI) affects anyone who generates revenue from supplying their skills and labour. It’s important you understand if you’re earning PSI, because it can significantly change your tax obligations. Personal Services Business (PSB) is essentially the same thing as PSI, except that there are no changes to your tab obligations other than declaring […]
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