Category: IQ+

Medical Billing: Accounting Laws to Look Out For

The Department of Health has responsibility for monitoring compliance of practitioners who provide services under Medicare and the Pharmaceutical Benefits Scheme. It undertakes a variety of compliance activities such as random audit activities, and also investigates suspected fraud and other criminal activity. Under the Health Insurance Act 1973 you are legally responsible for services billed […]

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Your medical practice and the right business structure

Starting your own medical practice is an exciting but nerve-wracking time. You want to do things your way and therefore your business structure carries a lot of weight. Used properly, the benefits of a good business structure are substantial. Your structure will govern business operations, streamline operations to ensure effective and efficient practice, and it […]

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7 Reasons Doctors Need a Financial Advisor for Financial Planning

MEDIQ Financial - Financial Advisor for Financial Planning

Financial advisers can help doctors make a lifetime of great financial decisions – but they offer more than just advice. From investing to retirement planning, a medical financial adviser has the knowledge and skills to help you achieve your financial goals by developing tailor-made strategies that address your specific needs. Financial planning involves being smart […]

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Top 8 Tips for Successful Payroll System Implementation

MEDIQ Financial - Payroll System Implementation

Do you run a medical facility or clinic and employ medical staff? If so, a payroll system can help you keep a record of your employees’ salaries and wages, as well as their employment and bank account details. Your payroll system should be transparent and easy to carry out. If not, your employees may have […]

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A Guide to Establishing a Healthy Budget for Your Medical Practice

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Running your own medical practice can be an incredibly rewarding project. Not only can you take more control over your work, but you can find your niche and help people in a way that others can’t. But when it comes to running your own practice, you are no longer just a doctor. Now you’re a […]

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Investment Options: The 6 Biggest Ways ETFs Benefit SMSFs

MEDIQ - ETFs Benefit SMSFs

Exchange-Traded Funds (ETFs) offer real benefits to Self-Managed Super Funds (SMSFs) and investment in ETFs by SMSFs are on the rise. To put a number on it, almost 15% of the total number of SMSFs in Australia now have ETF holdings, which has doubled from 46,000 to 83,000 in one year. So, we know the […]

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Tax Deductible Holidays: What Expenses Can You Claim?

Many of us have to travel for work, and often see it as a great opportunity to tack on a little holiday while we’re there. Whether you’re going away for a quick interstate conference, a trip to visit clients, or extended overseas travel, it’s important to know which expenses you can claim for tax purposes. […]

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Debt Management Tips for Doctors

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For medical professionals, managing debt is essential. At different stages of your career, income and expenses can fluctuate quite a bit, so it’s important to consider how a doctor’s career can differ from the average. Whether you’re just starting out and have educational debts, or are starting or expanding your own practice, and want to […]

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Medical Financial Planning: 5 Steps Every Health Professional Should Know

Legislation, tax obligations and other compliance issues can be tricky, and just because you’re good at your job, doesn’t mean you immediately understand everything there is to running a business. If you’re a medical professional who wants to take control of their financial future, these 5 steps can put you on the path to success. […]

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What Property Investors Should Know About Negative Gearing

mediqfinancial - Know About Negative Gearing

Property investing offers an alternative to the volatility of the stock market, and for high-income earners like medical doctors, it’s an attractive investment option. Along with the tax advantages of negative gearing, property holds the potential for high capital growth. If you’re thinking about investing in property, read on to find out more about the […]

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