How Doctors Can Manage Cash Flow in their Practice
Yesterday

Running your own medical practice can be one of the most rewarding things you’ll ever do. You’ve got the freedom to shape how you care for patients, build a team, and create a workplace culture you believe in. But there’s a side to practice ownership that medical school doesn’t prepare you for: money management. And one of the trickiest parts? Cash flow. Read More…

Why So Many Doctors Stay Broke Despite Huge Incomes
11 Sep

After years of medical school, internships, registrar training, and specialist exams, doctors in Australia finally reach the point where the financial rewards start flowing. Compared to the average Australian worker, a doctor’s income is well above the norm. According to the Australian Tax Office (ATO), medical professionals consistently sit among the highest income earners in the country. With that higher income comes choices — and often, temptations. Read More…

First Home Boost: Dream or Debt Trap?
30 Aug

For years, getting into the property market has felt impossible for many first home buyers.Saving a deposit big enough to satisfy the banks — all while rents skyrocket and living costs keep rising — has been a constant uphill battle. So when the government announces an expansion to its 5% deposit scheme, it sounds like the breakthrough everyone has been waiting for. Read More…

Family Home Might Now Attract Land Tax
27 Aug

Working from home isn’t new, but in recent years it’s become the norm for many Victorians. From accountants setting up in a spare room, to hairdressers running a salon out of the garage, or allied health professionals seeing clients from home — more and more people are blending business and home life. But this raises a tricky question: 

If part of your home is used for business, does that affect your land tax exemption on your principal place of residence (PPR)?... Read More…

Why Budgets Don't Work for Doctors and What To Do About it...
4 Aug

As a Doctor you  can earn a lot of money and that can sometimes give you a bit of a false sense of financial security. It’s totally normal to upgrade your lifestyle as your paycheck grows—something we call “lifestyle creep.” But the tricky part is that it can sneak up on you, making it tough to really keep control of your cash flow. Read More…

Legal Tax Loopholes to Avoid Tax on Super...When You Die
30 Jul

While super is a fantastic way to grow your money during your life, there’s a nasty little surprise that could hit when you die. And it’s got to do with who ends up with your super and how the tax rules treat them. Read More…