March 5th, 2018
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 […]
Continue readingFebruary 15th, 2018
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. […]
Continue readingDecember 18th, 2017
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 […]
Continue readingNovember 6th, 2017
Medical professionals spend years in study, but as a doctor, your medical education probably didn’t directly prepare you for running a business. Growing a medical practice can be a challenge in a competitive environment, but it’s achievable if you have the right strategy. As we’ll see, getting the right team together and becoming customer-centric can […]
Continue readingSeptember 26th, 2017
Using an agent to help you sell your property is not an unusual concept, but a more recent player in the Australian real estate market has been the emergence of buyer’s agents. This guide looks at what they do, the advantages of using one and what to look for when engaging their services. What does […]
Continue readingSeptember 11th, 2017
Minimising the amount of tax you pay should always be an important consideration, but it is also important to know the point at which tax minimisation becomes tax avoidance in the eyes of the ATO. Former tax saving strategies such as distributing profits to lower tax-rate individuals in a business and paying the key person […]
Continue readingAugust 14th, 2017
As a medical doctor, you can reduce your risk exposure by taking out appropriate personal and practice insurance. Personal insurance like income protection, life and disability, and trauma products can protect you against unexpected events. Public liability and medical indemnity insurance shields you and/or your practice against professional risks. Knowing when to review your insurance […]
Continue readingJune 19th, 2017
Are you a GP or specialist thinking about setting up your own medical practice? Taking the next step into independent practice enables you to achieve your lifestyle and wealth-building goals. However, making the leap from employment to running your own business can be daunting, and you’ll want to make sure you’re ready and supported […]
Continue readingMay 15th, 2017
Tax time will soon be starting again, so it’s the perfect time to review individual tax-deduction strategies – especially deductions often overlooked by doctors. We surveyed our senior medical accountants and asked them “what are the top 5 forgotten deductions on individual tax returns?” – that is, deductions people can claim but often forget […]
Continue readingApril 17th, 2017
Professionals, like doctors, typically maintain high standards of living and carry high levels of debt. As a doctor, overspending and debt-servicing expenses can be a common challenge, so how do you turn around your debt situation? If you haven’t considered debt recycling, now could be the time to look into it as part of your […]
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