Category: IQ+

The Pros And Cons Of Salary Packaging (From An Employer’s Perspective)

We all know that salary packaging is popular with employees, as it allows them to reduce the amount of tax that they pay. It allows the employee to pay for expenses, such as a car, laptop, or additional superannuation expenses from their pre-tax earnings, which in turn reduces the total income that can then be […]

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Tax Deductions Every Doctor Should be Claiming

Medical professionals often incur a significant amount of work-related expenses, so it’s vital to ensure that you do keep records of all of these so that you can claim on them. To make sure that you do take advantage of all your allowable tax deductions, keep detailed records on an app or spreadsheet. Retain your […]

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The Best Ways to Choose, Manage and Retain Employees For Your Medical Practice

Whether you’re opening a new medical practice or replacing a staff member, it’s important that you dedicate a lot of time and resources to hiring and managing your employees. Hiring incompetent staff can cause a lot of problems. For example, a receptionist who doesn’t always send out appointment reminders or test results to patients could […]

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How to Create A Budget For Your Medical Supplies

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 […]

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5 Things Every Doctor Needs To Know About Their Superannuation

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 […]

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8 Common Financial Mistakes Doctors Make And How To Remedy Them

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.

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Highest Paid Medical Professions

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.

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Digital Marketing For Doctors

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 […]

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The 9 Highest Paid Medical Professions

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.

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Do You Qualify as a Personal Services Income (PSI)? Or Are You a PSB?

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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