Content & Happy? Or are you Kidding Yourself?

How do you know if you are content and happy? Many of us may say we are. Some of us think we are. Many of us though, are lying to ourselves. But how do you really know? My blogs are peppered with articles about what one wants from life. Being an accountant money has always […]

Great Practice Operator but Lousy Practice Owner?

I hate saying this because it makes me sound pompous, but practice owners struggle and do not reach optimum for one main reason. They are great operators and lousy owners. There. I said it. As a medical professional you will have two reactions. Agree or you are screaming at your screen in disgust. But I […]

125 Years and Still Going Strong!

We have a client called AJ Parkes Pty Ltd. And in December 2021 they celebrated 125 years in existence. This is an amazing feat. But let me get something clear. They are not a medical business. On average 90% of medical businesses in Australia will die, disappear, get sold, go into liquidation or shut down […]

Our Kids & Money

I worry about how our children will survive the future financially. When I was growing up there was no discretionary spending. If you needed something there were no overdrafts, credit cards, personal loans or Afterpay. Buying a pair of shoes was a plan that took weeks to execute. A pair of trousers were always 1 […]

Increase Income and Pay Less Tax?

Yes, I know I talk about reducing expenses a lot. You see most medical professionals, talk about fee income. But fee income is only one part of the equation. The other part is expenses. That then leads to profit. The idea is to generate as much fee income as possible. That is the reason most […]

Want to Buy a Car or Need Equipment? What are Your Options?

So, everyone has told you that it makes sense to buy a car because it can be written off against tax. Many have told me they want to upgrade their fit outs or buy more equipment knowing that the taxman will allow you to write this off. This has got many businesspeople in business very […]

Don’t Fall For it!

I often wonder if flies know they should not go towards the light of a fly zapper and if they do know do they also know their fate? It reminds me of a scene in A Bug’s Life were one fly tries to warn the other by saying ‘No, Harry no, don’t look at the […]

$825,000? – I’ll Have That Thanks!

Would you like an extra $825,000 in you pocket? Insurance is so boring. But it is a necessary evil. When it comes to renewal or choosing a new policy we instinctively think about cost. I know I do. As medical professionals income protection is a must and it is expensive because the amounts insurance are, […]

Captain Sir Tom Moore – As Ordinary as You & I

When it comes to my country of origin, I become a blubbering idiot. Nothing like Hugh Grant as he has good, chiselled looks which make women weak at the knees.  No, I get to look like a relative who shall remain nameless. Many of you will have heard that Captain Sir Tom Moore a 100-year-old […]

Medical Professionals Tax Update (plus a bit more)

Welcome to our latest tax update for medical professionals. It has been a quiet from the tax front. The Federal Government has been getting everyone ready and prepared as JobKeeper is phased out. One thing seems certain. The Federal government is slowing getting the states to realise that if States start locking down to control […]