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What Is Never Tax-Deductible?

What Is Never Tax-Deductible?

What Is Never Tax-Deductible? There are special provisions in tax law that provide that certain items will never be tax-deductible. Even if you feel that you have necessarily incurred this expense in earning your income, they will still not be tax-deductible. In...

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The Low Income Super Tax Offset

The Low Income Super Tax Offset

Investing through superannuation is often done due to the lower tax rates on super than what most people actually have to pay. A super fund only pays 15% tax on what the fund receives. When contributions are made to the super fund, it will only pay 15% tax on those...

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Planning A Better Retirement

Planning A Better Retirement

Thinking about your grand retirement plan of setting about the country as a grey nomad? Want to be able to spoil your family after you finish working? Or are you simply wishing to ensure that you’re financially set to live out the rest of your life as you’d like? No...

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What Is Never Tax-Deductible?

What Is Never Tax-Deductible?

What Is Never Tax-Deductible? There are special provisions in tax law that provide that certain items will never be tax-deductible. Even if you feel that you have necessarily incurred this expense in earning your income, they will still not be tax-deductible. In...

read more
The Low Income Super Tax Offset

The Low Income Super Tax Offset

Investing through superannuation is often done due to the lower tax rates on super than what most people actually have to pay. A super fund only pays 15% tax on what the fund receives. When contributions are made to the super fund, it will only pay 15% tax on those...

read more
Planning A Better Retirement

Planning A Better Retirement

Thinking about your grand retirement plan of setting about the country as a grey nomad? Want to be able to spoil your family after you finish working? Or are you simply wishing to ensure that you’re financially set to live out the rest of your life as you’d like? No...

read more
Guide to Preparing a Medical Practice Business Plan

Guide to Preparing a Medical Practice Business Plan

This Guide to Preparing a Medical Practice Business Plan has been developed to assist both doctors and practice managers understand the potential of their practices. It contains numerous practical tips and advice and identifies the main issues connected to planning and successfully running the practice. It has been identified as an area where practice managers and doctors alike have a keen interest, and a lot of important information is contained in the guide.

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Buying an Established Medical Practice

Buying an Established Medical Practice

Buying a practice should be the best investment for a GP. A mark of a good practice is a demonstrable ability to produce an above average return for its owners. Prospective buyers will be prepared to pay a premium over the value of the practice’s tangible assets to receive that above average rate of return.

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Tax Planning for GP’s

Tax Planning for GP’s

Tax planning should be an on-going process whereby commercial issues and developments are constantly monitored and the implications of income and other tax practices considered.
Tax planning is a legitimate activity and occurs constantly throughout a GP’s career. For example, we encourage GPs to pay large super contributions every year, at all stages of their career. The primary purpose is to ensure a financially secure retirement, but like most strategies there are secondary purposes too. In this case the protection of assets (super is protected in bankruptcy) and reducing tax are common secondary purposes.

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What Is a Discretionary Trust? [Video]

What Is a Discretionary Trust? [Video]

Using a discretionary trust enables income to be distributed to companies and trusts associated with family members. A discretionary trust enables income with different tax characteristics to be streamed to family members individually. The structure can also be applied to non-family beneficiaries.

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