The ATO Is Looking for $31Bn – Will They Be Knocking On Your Door?
The ATO says there is a tax gap of $31Bn This gap is the difference between what they should collect compared to the amount they actually collect. In 2017-18 they collected $31.2Bn less than they believe was due to them. We all like to think that big business avoid taxes. But according to the ATO […]
In Plain English – The Budget and How It Affects Medical Professionals & Healthcare!
I don’t normally watch the budget. It’s usually a bit boring. And they usually provide figures telling us what the position is going to be in 5 years’ time. The problem is prior to the pandemic we did not really trust our politicians and I am more interested in how my clients are going to […]
The Holy Grail – Do More, Work Less, Enjoy More
As humans, we love living in a herd environment. Do something different and you are a bit weird. Nuts. Bonkers. And a bit loopy too. Sometimes we get so used to doing things that we ignore what they mean. For example, I deal with figures on a daily basis. Some are large and some are […]
What’s Really Important?
Is it money? Is it wealth? Is it success? Is it making a difference? These all are to a certain extent. But I realised a number of years ago that I could make and lose all the above and then have the chance to redo it all over again. And as I talk to my […]
The ATO has Eyes on You!
The ATO is concerned that some businesses who have received the $20,000 to $100,000 cash-flow boost have made either an honest mistake or undertaken a fraudulent arrangement to increase the amount they receive. We think that is a bit harsh. They have also told us that Jobkeeper is on their radar too. And we believe […]
We Are Haemorrhaging Cash. Now What?
I got a call from a friend who broke down in tears. From the outside life looked good. She had a good job. So did her husband. Look on Facebook and Instagram and you got the impression they had it all. Nice cars, a large house and a lot (and I mean a lot) of […]
Urgent JobKeeper Action Required!
The government does not make life easy for us. This week they made changes to the original JobKeeper V1.0 and you have until Monday to let the ATO know! The Government has amended the JobKeeper rules to allow more employees to qualify for the JobKeeper payment. The change relates to eligible employees. The original date […]
It’s not what you earn but what you keep.
I often say this to my medical professional clients. And I repeat it. Often. You see most of my medical professional clients will pay the maximum they can into Superannuation. But then many do nothing afterwards. Yes you have made a great tax incentive investment. But most do not ask how those yearly investments are […]
I don’t Have Crystal Ball Now What?
We believe it in our duty to give back to those less fortunate than ourselves. As part of this belief Medisuccess has joined the B1G1 ‘Give a Million’ campaign, where our aim to make 1 million impacts to those in need. Since March 2018 we have tracked the tax savings & profit improvement strategies we […]
Jobkeepers – Yippee …. We Got Some More Info!
I have previously said that because Jobkeeper Payments was organised on the back of an envelope there was the slightly tricky question of how it was going to operate. They did not work out that bit. So, when medical businesses and Tax Agents like us started to ask questions there was nothing more except ‘wait […]