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. …


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. …


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. …


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)?... …


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. …


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. …


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. …


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. …


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. …


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 …


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.
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Are you a doctor driving your own car for work? Don’t miss out on potential tax savings! Track your trips for 12 weeks, calculate your ‘professional use percentage,’ and unlock valuable deductions you may be overlooking! …


When it comes to planning for retirement, many financial experts lead you to believe that you need a huge sum – often around $1 million – to retire comfortably. However, this may not be entirely accurate, especially when you understand how to achieve the "superannuation sweet spot." By applying this strategy, you can retire comfortably with far less, and in some cases, even come out ahead. …


As a medical professional, you’re no stranger to the pressures of running a practice and managing your finances. But there’s one thing many overlook: the impact of the Personal Services Income (PSI) rules. Ignoring these regulations can open the door to an ATO audit.. …


Most of us wouldn’t think twice about insuring our house, car, or other valuables. But here's the thing: your income is probably your most valuable asset, and protecting it should be a priority. After all, if you can’t work due to illness or injury, how will you keep the bills paid and your family secure? This is where life and income protection insurance come in. …

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  • How Doctors Can Manage Cash Flow
    Yesterday How Doctors Can Manage Cash Flow 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. More >
  • Why So Many Doctors Stay Broke Despite Huge Incomes
    11 Sep Why So Many Doctors Stay Broke Despite Huge Incomes 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. More >