May 28th, 2014
You’ve studied for several years and after seemingly endless bouts of hard work and sleepless nights, you’ve finally become a full-fledged medical doctor. Life is supposed to get a little easier now that you’re earning six-digit wages every year, right?
Continue readingMay 27th, 2014
A May 10, 2014 Sydney Morning Herald article tackles one of the biggest financial issues looming over the country today and in the coming years:
Continue readingMay 26th, 2014
Taxes are the lifeblood of the economy. However, if you’re a medical practitioner in Australia, you’ll still want to reduce the taxman’s burden on you in some way. Amanda Bryan of Medical Journal Australia writes:
Continue readingApril 12th, 2014
“Doctor, heal thyself” is an advice that many medical professionals just seem to ignore, in their desire to provide the best possible care for their patients. Recognizing this syndrome, the Australian Medical Association has come up with a position paper that reinforces the need for doctors and medical students to look after their own health, […]
Continue readingApril 11th, 2014
One of the common notions about medical practitioners is that they are among the highest earning professionals anywhere. True enough, after spending years of training and studying to perfect their skills, doctors often reap the rewards of their labour once they have established a successful practice. However, as in any other profession, financial problems can […]
Continue readingApril 10th, 2014
Not all Australian taxpayers can afford private health care insurance. Many rely on Medicare to get medical services either for free or with rebates. Medicare is a health care system designed to subsidise whole or part of certain medical services to eligible Australian citizens.
Continue readingApril 9th, 2014
When asked what they want to be when they grow up, a lot of children would say they want to become a doctor so they can cure the sick. What these kids don’t realise just yet is that a doctor does a lot more than just stitching wounds and thrusting syringes. On top of his […]
Continue readingMarch 10th, 2014
The specialised taxation rules governing the medical profession are extensive enough to oblige medical practitioners, doctors included, to be vigilant about settling their government dues to keep themselves out of legal trouble. Very often though, busy professionals are likely to overlook important components in their tax returns, which could lead them into serious legal consequences. […]
Continue readingMarch 7th, 2014
Conventions, conferences, and post-grad university schooling are quite expensive for doctors despite being in the higher income brackets. The government, nonetheless, offers such aids to them through significant tax deductions, under self-education expenses. Controversy arose last year from an attempted government reform which would limit the deductions for self-education expenses. This maximum or “cap” would […]
Continue readingMarch 5th, 2014
Most people think that doctors are just health professionals, but those who have private practices are also skilled entrepreneurs. Or at least they should. This article from CNN.com points out that many doctors are teetering on the edge of financial collapse due to poor money management:
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