January 22nd, 2019
Starting your own medical practice is an exciting but nerve-wracking time. You want to do things your way and therefore your business structure carries a lot of weight. Used properly, the benefits of a good business structure are substantial. Your structure will govern business operations, streamline operations to ensure effective and efficient practice, and it […]
Continue readingMarch 5th, 2018
For medical professionals, managing debt is essential. At different stages of your career, income and expenses can fluctuate quite a bit, so it’s important to consider how a doctor’s career can differ from the average. Whether you’re just starting out and have educational debts, or are starting or expanding your own practice, and want to […]
Continue readingDecember 18th, 2017
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 […]
Continue readingJune 19th, 2017
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 […]
Continue readingMay 15th, 2017
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 […]
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 readingNovember 25th, 2014
There are a great many reasons why all medical personnel should use a specialist medical accountant when it comes to dealing with your finances. These range from changes in Medicare policies that may affect you differently to those in other professions to ensuring you are receiving the correct deductions for your industry. We’ve put together […]
Continue readingFebruary 20th, 2014
While the taxman is targeting investors hiding assets overseas, there are much less complicated ways to cut your tax bill. Here are 6 legal tax-minimising strategies that you can easily use – and they can make a significant difference to your overall wealth creation. Not only are these legal ways to cut your tax bill, […]
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