Are you a medical, dental or allied health practice engaging other practitioners on a service arrangement? If so, it is important you document the method of engagement properly and consider the manner of which you conduct day to day operations of the clinic and its interaction with the practitioner. State Revenue Office alert State Revenue […]
Background For many doctors working in the hospital system for more than one employer and the issue of exceeding the concessional contribution limit ($25,000 for the 2019 financial year) has been frustrating and often costly. However, it now appears that a solution might be close to hand. The Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 currently before Parliament proposes to amend the law to […]
What is it? Single Touch Payroll (STP), is the new streamlined way for the ATO to receive payroll and superannuation data from employers. It represents a significant change and businesses will need to ensure they are ready to meet the new obligations. A two part roll out STP became compulsory for ‘substantial employers’, businesses with […]
We are often asked to value practices, whether it be acting for the vendor or the potential purchaser. A practice is often the best investment a doctor makes, providing the potential to generate higher income than what would otherwise be generated as a non-owner. What is goodwill? Goodwill represents an intangible asset of a business […]
Yes, it’s true. The government is giving away free money. There are a few catches, however, and they’re not going to give you a fortune. But if you qualify, this is a government perk that is well worth contemplating.
Trauma cover is a form of life insurance that provides a lump sum benefit if you experience a specified form of medical trauma. This trauma can be a critical illness or a critical injury – and some insurers allow you to select which of these you wish to be insured for.
It is a financial adviser’s night of nights. Budget night. This year’s budget delivers mostly good news for our clients. Read on and see what’s new in money land.
As of 2017, almost all working Australians can make a personal superannuation contribution for which they claim a tax deduction. For most people, this provides an immediate positive return on their investment. This article explains how to make the most of personal superannuation contributions.