Payroll Tax – All GP’s Need to Adapt
I have a very smart uncle. But in his early years he was not what I would call successful. In his later years? Let’s just say he built a multimillion turnover business which allowed him to retire comfortably. He happens to be one of my mentors. When I started my business, he was a wealth […]
It’s Not Your Wants that Matter…… Only Theirs
As medical professionals you think you know what your patient wants. And that means you create all sorts of services for your patients. But that is not enough. Sometimes we are prepared to devote your lives to it. Sometimes you will even try to force it down the throats of your patients. But here’s the […]
A New Year… A New Plan
The 2023 financial year came to an end some time ago. And the financial world will tell you should (and need) to plan for 2024. I am no different although the way I will tell you to plan for 2024 will be a bit different from other accountants. And I will also say you don’t […]
Your Structure is Never a Problem …. Until it’s a problem
I get that structures are boring. These you may think are only something that lawyers and accountants get excited about. It does not help that we accountants and lawyers talk about structures in a way that is boring. We talk gibberish too. And that is one of the reasons medical professionals get turned off. But […]
Scammers – They Got Me – They May Get You
In the last 6 months we have 2 major scams that have and has caused absolute mayhem. One was at first thought stupid – but it is easy to do, and we have all be enticed at some point. The second one – a totally innocent business literally stops trading because of a scam and […]
GP Payroll Tax – NSW & Victoria Share their Plans
At last. The states of NSW & Victoria have shared their plans for GP Payroll Tax and as expected, it is not good if you have a practice in those states. I do not need to tell you what I think about payroll taxes – you will already know from my previous blog articles on […]
4 Reasons Not to DIY Your Tax Return or Your Finances?
As a medical business, you may think that your affairs are easy and that you can DIY day to day running or even be a bit brave and complete bookkeeping and BAS. You might be super brave and think you can even complete your personal income tax return and we know many medical professionals who […]
Employee or contractor? Who Cares?
To you and me it does not make a difference. We see them the same way. But to the ATO it seems the difference means a lot. So much so that there has been so many cases going to court that I have lost count. And each case comes out with a different conclusion that […]
We hate paying the Banks ….but what about investment fees?
I hate paying fees to banks for anything. In my mind banks are evil. And this means I try to do everything I can to not pay them. I bet you do too. Here’s the problem. They always win and we just pay up. And we often forget they are not in business for the […]
If you had a Time Machine….
School holidays in my world usually means a trip to the cinemas. As my kids are in their teenage years they have started to venture out on their own catching buses & trains to meet friends and do whatever it is teenage kids do these days. In my time everything revolved around a soccer ball […]