How Doctors Can Manage Cash Flow
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…

New Super Tax Nightmare
29 May

If Freddy Krueger ever swapped his bladed glove for a calculator, Section 296 might be his handywork. This proposed new "super tax" is targeting total superannuation balances over  $3 million with the same stealth and sting as a horror movie villain. Read More…

Forget the Federal Budget, Focus on Your Own
26 Mar

Now, I’ve gotta say, everyone’s all in a tizzy about the Federal Budget. Sure, it’s important. But here’s the kicker: The government can do what it likes, but your budget is where the real magic happens. Read More…

The Best Investment a Doctor Can Make
13 Mar

Many doctors who build wealth do so by running their own practices. They focus on making their practice a successful business, spend less than they earn, and save the difference. Over time, those investments grow and can outpace the practice itself, becoming the main source of cash flow and wealth. But it all starts with the practice. It’s the heart of the journey. Read More…

3 Simple Checks to Make Sure Your Super is Working for You
13 Mar

How often do you check on your super? It’s probably not all that often, right? But here's why it’s a good idea to pay more attention to your super: You see, even small changes in your super’s performance or fees can have a big impact on your retirement savings. Read More…

Doctors: How To Work Less and Enjoy More Free Time
12 Mar

As a Doctor/ business owner your time is one of the most valuable assets you have. But with so many tasks and responsibilities vying for your attention, it can be overwhelming to know where to focus. Often, we fall into the trap of wearing too many hats and trying to handle every little detail ourselves. The result? Burnout, frustration, and a lack of true progress toward your larger business goals. One powerful tool to break this cycle is the 80/20 Rule, also known as the Pareto Principle Read More…

How Doctors Can Retire Early
12 Mar

When it comes to a doctors retirement, our perspective is pretty straightforward: "Start early, and never fully stop." It’s a simple idea that most dentists get on board with once we explain it, so let’s break it down.
Read More…