By | April 10th, 2014
Not all Australian taxpayers can afford private health care insurance. Many rely on Medicare to get medical services either for free or with rebates. Medicare is a health care system designed to subsidise whole or part of certain medical services to eligible Australian citizens.
Continue readingBy | April 9th, 2014
When asked what they want to be when they grow up, a lot of children would say they want to become a doctor so they can cure the sick. What these kids don’t realise just yet is that a doctor does a lot more than just stitching wounds and thrusting syringes. On top of his […]
Continue readingBy | March 10th, 2014
The specialised taxation rules governing the medical profession are extensive enough to oblige medical practitioners, doctors included, to be vigilant about settling their government dues to keep themselves out of legal trouble. Very often though, busy professionals are likely to overlook important components in their tax returns, which could lead them into serious legal consequences. […]
Continue readingBy | March 7th, 2014
Conventions, conferences, and post-grad university schooling are quite expensive for doctors despite being in the higher income brackets. The government, nonetheless, offers such aids to them through significant tax deductions, under self-education expenses. Controversy arose last year from an attempted government reform which would limit the deductions for self-education expenses. This maximum or “cap” would […]
Continue readingBy | March 5th, 2014
Most people think that doctors are just health professionals, but those who have private practices are also skilled entrepreneurs. Or at least they should. This article from CNN.com points out that many doctors are teetering on the edge of financial collapse due to poor money management:
Continue readingBy | March 3rd, 2014
If you’re a doctor thinking of venturing out into private practice, you’ve probably racked your brains trying to figure out where and how you can minimise or eliminate operational costs so that you can stretch your funds as far as you can. One business aspect you should never consider doing yourself is accounting. Unless you […]
Continue readingBy | February 20th, 2014
While the taxman is targeting investors hiding assets overseas, there are much less complicated ways to cut your tax bill. Here are 6 legal tax-minimising strategies that you can easily use – and they can make a significant difference to your overall wealth creation. Not only are these legal ways to cut your tax bill, […]
Continue readingBy | February 13th, 2014
Income protection is a type of life insurance that you should have. Zoya Sheftalovich and Uta Mhim of Choice says:
Continue readingBy | February 12th, 2014
Being a medical practitioner can be too much to handle. From practising medical precision to saving hundreds of people from sickness, you might have less time to attend to equally important matters such as accounting.
Continue readingBy | February 11th, 2014
Ask any Australian what they think about giving anything a fair go, and they’re likely to tell you that anyone or anything, as long as it isn’t hurtful or unjust, deserves that right. It is based on this same concept that the Australian Taxation Office is reminding everyone to give the tax system its fair […]
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