April 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 […]
Continue readingFebruary 27th, 2017
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 […]
Continue readingFebruary 6th, 2017
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 […]
Continue readingDecember 20th, 2016
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 […]
Continue readingNovember 11th, 2016
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 […]
Continue readingOctober 28th, 2016
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 […]
Continue readingSeptember 27th, 2016
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 […]
Continue readingAugust 29th, 2016
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.
Continue readingAugust 1st, 2016
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.
Continue readingJuly 28th, 2016
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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