If you would like to listen to this blog post in audio format, please click here. I hate it when my medical clients take loans from their medical company to be given to a director. They are, in technical terms, called Div 7A loans. It is likely you have been told to use a bucket..
If you would like to listen to this blog post in audio format, please click here. Have you heard of loud budgeting? It’s something that the TikTok generation has picked up. And like every young generation, they think they are geniuses without realising that what they think is mind-blowingly brilliant has been going on for..
We accountants have been talking about this for eons. So have legal people. But then again, legal people get aroused whenever it comes to small print. But this time, the ATO is getting a bit excited. And that is usually a worry. It has to do with several legal cases, which, to be honest, I..
If you would like to listen to this blog post in audio format, please click here. Oops….. looks like there are a few SMSF trustees that screwed up. That’s because the ATO disqualified a whopping 223 SMSF trustees in the September quarter. To be honest, that is a lot. It is also surprising that there..
If you would like to listen to this blog post in audio format, please click here. As you all know, my wife thinks I am an imbecile. Except over the last few weeks, she also thinks I should now nominate myself for the madman of the year award. Come to think of it, there may..
You can start crying because, yep…. Today, you lost $4,546. Let me explain. If you have ever read one of my budget updates, you will know that I am very skeptical of anything that they say will happen in the future. That’s because it rarely happens. And that’s because Governments are basically useless. That’s because..
On the face of it, this is such an easy question for medical professionals. Or is it? Because I can tell you this. Most of you in an instant will tell me what your medical business does. Yes, I understand it is healthcare or whatever specialist area you cover. But rarely will a business owner..
Medical professionals think there is a magic formula or there is a special thing that you need to do to become wealthy. As far as I know, there isn’t one. I do, however, know a formula that is tried and tested and works. In Australia, there’s a huge gap between the wealth levels of the..
You have heard me or read constantly about passive income. When it comes to medical professionals, I bang on about it more. Why? Well, medical professionals are a bit unique. Their income can be directly related to how many hours they work. In many ways, earning passive income is almost too good to be true...
Have you ever wondered what a true challenge is? For me, it is this. Thinking that I am still twenty. I think I have the body of a twenty-year-old. I think that I look like a twenty-year-old too. And I think I can drink bottles of whisky just like a twenty-year-old. I know none of..
