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If you’re a doctor, specialistor other medical professional it pays to learn what you can claim
To claim a deduction for work‑related expenses: you must have spent the money yourself and weren’t reimbursed it must directly relate to earning your income you must have a record to prove it.* You can only claim the work‑related portion of an expense. You can’t claim...
TAX PLANNING FOR EOFY – 2024
Please note that an individual can have up to $27,500 contributed per annum on their behalf from all employment sources combined (including any life insurance premiums owned via super). You should keep this in mind if you are aiming to utilise the maximum contribution.
The good news is that since 1 July 2018 you may be able to carry forward any unused concessional contributions on a rolling five year basis. Any rolled over amounts not used within the five years will expire.
2024-25 Federal Budget Announcements
The Federal Budget was handed down on 14 May 2024, and has outlined a number of changes that impact businesses, tax & superannuation. Instant Asset Write-Off Extended Small businesses with an aggregated annual turnover of less than $10 million will continue to be...
Maximising superannuation benefits: six strategies for financial security
Superannuation is undergoing changes once again this year, promising better prospects for most employees as compulsory employer contributions increase from 11% to 11.5% commencing 1 July 2024. Now is time to contemplate how to manage your superannuation effectively...
THE IMPACT OF TAX ON INVESTMENT RETURNS
In the realm of investment strategy, one often overlooked yet fundamentally critical factor is the impact of taxes. While many investors meticulously analyse market trends, asset allocation, and risk management, the significance of the tax structure on total...
We’re taking on Coastrek!
This year, the team at Curve are hiking for healthy hearts by taking part in Coastrek, Australia’s most iconic hiking challenge, proudly supporting the Heart Foundation. Check out our team page here - https://www.coastrek.com.au/fundraisers/curve Along with thousands...
Aligning your practice insurance coverage to your business structure
Curve helps many practice owners to design and set up an optimal business structure considering tax implications, asset protection, legal liabilities and many other factors. Contemporary operating models make use of multiple...
A Client-To-Agent Nomination Process Reminder
Confused about the new nomination process for client-to-agent linking? Don’t worry - here’s what you need to know. On November 13, 2023, the ATO revised the process for tax agent access to enhance security against fraud and identity theft. For ABN holders, the new...
A Brief Guide To Depreciating Assets
Accountants play a crucial role in assisting business owners with navigating complex processes. One such critical aspect demanding careful attention pertains to claiming deductions for depreciating assets. Let’s delve into the strategic timing for claiming deductions,...
R&D Claims, Watch Out – The ATO Eyes Incorrect Deductions
The Research and Development (R&D) tax incentive program serves as a catalyst for innovation, encouraging companies to engage in R&D activities by providing targeted tax offsets. However, recent concerns have prompted the Australian Taxation Office (ATO) to...
If you’re a doctor, specialistor other medical professional it pays to learn what you can claim
To claim a deduction for work‑related expenses: you must have spent the money yourself and weren’t reimbursed it must directly relate to earning your income you must have a record to prove it.* You can only claim the work‑related portion of an expense. You can’t claim...
TAX PLANNING FOR EOFY – 2024
Please note that an individual can have up to $27,500 contributed per annum on their behalf from all employment sources combined (including any life insurance premiums owned via super). You should keep this in mind if you are aiming to utilise the maximum contribution.
The good news is that since 1 July 2018 you may be able to carry forward any unused concessional contributions on a rolling five year basis. Any rolled over amounts not used within the five years will expire.
2024-25 Federal Budget Announcements
The Federal Budget was handed down on 14 May 2024, and has outlined a number of changes that impact businesses, tax & superannuation. Instant Asset Write-Off Extended Small businesses with an aggregated annual turnover of less than $10 million will continue to be...
Maximising superannuation benefits: six strategies for financial security
Superannuation is undergoing changes once again this year, promising better prospects for most employees as compulsory employer contributions increase from 11% to 11.5% commencing 1 July 2024. Now is time to contemplate how to manage your superannuation effectively...
THE IMPACT OF TAX ON INVESTMENT RETURNS
In the realm of investment strategy, one often overlooked yet fundamentally critical factor is the impact of taxes. While many investors meticulously analyse market trends, asset allocation, and risk management, the significance of the tax structure on total...
We’re taking on Coastrek!
This year, the team at Curve are hiking for healthy hearts by taking part in Coastrek, Australia’s most iconic hiking challenge, proudly supporting the Heart Foundation. Check out our team page here - https://www.coastrek.com.au/fundraisers/curve Along with thousands...
Aligning your practice insurance coverage to your business structure
Curve helps many practice owners to design and set up an optimal business structure considering tax implications, asset protection, legal liabilities and many other factors. Contemporary operating models make use of multiple...
A Client-To-Agent Nomination Process Reminder
Confused about the new nomination process for client-to-agent linking? Don’t worry - here’s what you need to know. On November 13, 2023, the ATO revised the process for tax agent access to enhance security against fraud and identity theft. For ABN holders, the new...
A Brief Guide To Depreciating Assets
Accountants play a crucial role in assisting business owners with navigating complex processes. One such critical aspect demanding careful attention pertains to claiming deductions for depreciating assets. Let’s delve into the strategic timing for claiming deductions,...
R&D Claims, Watch Out – The ATO Eyes Incorrect Deductions
The Research and Development (R&D) tax incentive program serves as a catalyst for innovation, encouraging companies to engage in R&D activities by providing targeted tax offsets. However, recent concerns have prompted the Australian Taxation Office (ATO) to...
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.
Starting a Medical Practice
Starting a practice is probably one of the most significant professional decisions a doctor will undertake during their professional life. “Starting a practice” or to “Buy into an existing practice” is a common goal for many doctors and health professionals.
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.
![What Is a Discretionary Trust? [Video]](https://curveaccountants.com.au/wp-content/uploads/discretionary-trust.jpg)
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.
10 Principles of Investing
We stand by our ten principles of investing, and they have been our investment philosophy for more than a decade.
Video: 5 Things to Consider Before Hiring for your Medical Practice
Staff are easy to hire but not so easy to fire. This video outlines the considerations you should take when hiring for your medical practice.
Video – Industry Super Funds are Good
Why choose industry super funds? This video introduces industry super funds, the life insurance they offer, investment options and more.
What Are Exchange Traded Funds? (ETF’s)
An introduction to ETF’s (Exchange Traded Funds), their benefits, risks and opportunities.
Video – First Priority: Pay Down Non-Deductible Debt
We are often asked by clients whether it’s more important to reduce non-deductible debt or whether building wealth and investments outside of the family home is more beneficial. The most common compromise to paying off non-deductible debt is making concessional super contributions instead.
Single Touch Payroll – Are You Ready?
Single Touch Payroll (STP) is the new streamlined system for the ATO to receive payroll and superannuation data from employers. Those employing less than 20 staff will need to comply from 1 July 2019.