Risk Profiling for Medical Professionals

With limited exception, a meeting with a financial planner will always involve a discussion around the risk profile of the client. This usually takes the form of several structured question to determine the client’s perception of how they view investment ‘risk’ and how volatility in their investments might impact their emotions and decisions. An aggressive […]

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Direct Property vs Shares

This debate is as old as the hills and will no-doubt continue forever, which is the better investment – Property or Shares. Australians are well known for their love affair with property, the dream of the quarter acre plot has been built into our psyche as a nation. It would also be fair to say […]

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Payroll Tax… the surprise tax

One of the biggest surprises a medical business faces in the Australian taxation compliance regime is payroll tax. The old perception that payroll tax is a tax for business with lots of employees has unfortunately created a dangerous misnomer. Payroll Tax is not a federal tax such as income tax and GST it is a […]

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Year end salary packaging opportunities

Medical professionals who derive any portion of income via the public system have the opportunity to save tax by salary packaging various items that would otherwise not be deductible for personal tax purposes. For many this would include mortgage payments, utility bills, entertainment expenses etc. This works well for both the employer and employee as […]

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Planning for education costs

More than most professions, every doctor has undergone extensive education to achieve their vocational qualification. The importance of quality education is clear and this usually translates to a desire to educate the next generation in high quality schools and tertiary establishments. It seems that every year around this time there is a scattering of articles […]

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Your Medical Practice Available Tax Concessions

Being a medical professional you will always pay your fair share of income tax for the wider community. Ever ask yourself ‘when will the tax office do something for me?’ Well the following is a series of concessions for Small Business that may be available for your medical practice. To be eligible for these concessions […]

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Investing for Children – Investment and Insurance Bonds

This is a common discussion we have with our clients seeking to accumulate a specific lump sum, to maybe take the sting out of private education costs or possibly to give a child a helping hand with the deposit on a first property. Whether it be the wish of the parent or the grandparent, investing […]

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Medical Accounting & the Advantages to Your Practice

It would not be a surprise to anyone that the accounting in your medical practice at the bottom of priorities. The paperwork, the management of cash, your debtor and creditor list create a compliance program that does distract you from what you are trained to do, practicing medicine. However the power of accurate, timely accounting […]

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Common ‘surprises’ of estate planning and asset ownership

As accountants/financial advisers catering only to medical professionals and their families, we see an ever increasing complexity in regard to managing personal finances. The aspirations of better tax management and enhanced asset protection constantly inspire new strategies that are available to consider and potentially apply to our clients. For many the goal of wealth creation […]

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A good time to review your mortgage or mortgage provider

Just as the global capital markets continue to thaw out following the GFC, so too is the competition returning to the mainstream mortgage and investment debt markets. Following 3 months of contracting mortgage figures, May showed a solid recovery with mortgage sales increasing by 18.8% according to the AFG Mortgage Index. Property markets around the […]

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