Category: IQ+

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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How You Can Boost Patient Volume to Grow Your Medical Practice

mediqfinancial - Boost Patient Volume to Grow

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 […]

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Using a Buyer’s Agent to Purchase Investment Property

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 […]

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Why You Shouldn’t Divert PSI to Your SMSF

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 […]

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When and Why You Should Review Your Personal and Practice Insurance

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 […]

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The Essential Guide to Starting Your Own Medical Practice

  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 […]

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The Top 5 Forgotten Tax Deductions for Doctors

  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 […]

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Is Debt Recycling a Smart Financial Strategy for Doctors?

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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Is a Self-Managed Super Fund Right for Doctors?

The idea of managing your own super through a self-managed super fund (SMSF), appears to be a popular one in Australia, with over one million Aussies opting to secure their retirement nest egg in a SMSF, with total assets of $621.7 billion. However, SMSFs can be complex to manage and maintain. For medical professionals seeking […]

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