What Does Your Scoreboard Say About Your Medical Business?
A Major Change to Personal/ Carer’s Leave
Content Area
Super Lookup ‘status’ will change if SMSF annual returns are late
The ATO considers the lodgment of an SMSF’s annual return on time to be a fundamental part of an SMSF trustee’s obligations. Consequently, from 1 October 2019, if an SMSF is more than two weeks overdue on any annual return lodgment due date and hasn’t requested a lodgment deferral, the ATO will change their status […]
Super guarantee opt-out for high earning Medical Professionals
From 1 January 2020, medical professionals who have multiple employers can apply to opt-out of receiving super guarantee (‘SG’) from some of their employers, to help them avoid unintentionally going over the concessional contributions cap and paying more taxes. They have to submit an ATO form to apply for a certificate, which they give to […]
Payroll tax for medical and healthcare providers!
If you operate or manage a medical, healthcare or dental clinic this piece may scare the living daylights out of you. A recent case in Victoria determined that clinics engaging independent contractors need to pay payroll tax. The Victorian Revenue Office applied payroll tax to the payments made by the clinic to its medical contractors. […]
How to Save Tax, Benefit And Create Wealth at the Same Time
We all hate paying tax although we all know we need to pay it for the benefit of our nation. Yes, we all know that governments are not best at spending our money efficiently or effectively but we also know we would not have the health system in Australia that we do without taxes. Some […]