Untitled design 51 business expenses insurance

Business Expenses Insurance – Protecting you if you can’t work

Personal Insurance, Private Practice / By admin

What is business expenses insurance cover? There are many different insurances that a self employed doctor should consider – medical indemnity insurance, public liability insurance, contents insurance and business interruption insurance. One insurance that is often overlooked is business expenses insurance. Business expenses insurance is similar to income protection insurance and provides an additional level […]

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employees gifts parties business expenses insurance

Employee Gift Tax and Parties Guide

Private Practice, Tax & Accounting / By admin

It is that time of year, again! As Christmas approaches, so do the invitations to the many parties; and with the parties come the gifts you’re obliged to buy. You will probably be buying for family and friends, but, what about your employees? Will you buy them a gift or throw a party for them?

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Missed the 2024 tax deadline – what now?

Tax & Accounting / By admin

Missed the tax deadline? Don’t panic, now is the time to take action. It is common for medical professionals to be extremely busy working and certain deadlines to be missed. Although this isn’t good practice as it can result in hefty and avoidable bills. As an individual taxpayer the due date for tax returns is the

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New Year’s resolutions for your finances in 2024

Private Wealth / By admin

Are you sick of spending everything you earn or looking to save for a new car, a wedding or your first home? With 2023 done and dusted, now is a great time to commit to your new year’s resolution of establishing a financial plan and building your wealth in the new year and beyond. Regardless

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[UPDATED] 24 best medical podcasts for medical students in 2024

Medical students tips / By admin

Medicine-themed podcasts are becoming an increasingly popular resource for busy medical students. They provide a convenient and accessible channel to broaden your medical knowledge and exposure, consolidate your study and help put all the clinical theory into practical context. Learning from the personal experiences and issues faced by current doctors is a great way to

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DPM 5MAR21 434 business expenses insurance

Podcast | What to look out for when taking over an existing medical practice

Legal Services, Tax & Accounting / By admin

DPM Tax Consultant Amelia Jones is a Chartered Accountant who specialises in providing personalised tax, structuring and compliance advice to medical professionals, with more than 20 years’ experience in the accounting industry. Amelia is joined by Josh Flett, Director at Fletcher Clarendon Lawyers who will be discussing the topic of taking over an existing medical

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locum work australian doctors business expenses insurance

A financial guide to locum work for Australian doctors

Tax & Accounting / By admin

What is locum work and who is it for? Locum work, also known as private assisting, allows junior doctors (interns and residents mostly) to gain experience in different hospitals, explore different career opportunities and increase their income. However, just like other good things out there, the advantages of locuming also come with downsides. It’s important

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female doctor finds out ATO auditing her medical practice

Are you prepared for the ATO knocking on your medical practice door?

Private Practice, Tax & Accounting / By admin

Dr Jane is a cardiologist in private practice working as a sole-trader under her professional ABN. She is registered for GST and completes her quarterly Business Activity Statements (BAS). A separate service entity runs the clinic rooms including employing staff, paying rent for the premises and providing the clinic fit out and equipment, with the

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Senior registrar on the phone working on fellowship plan

Fellowship plan: why you need one

Lending, Medical Fellowship, Private Wealth / By admin

Have a fellowship plan ready to take the pressure off After four to five years of medical school and three to seven years of training, for a lot of registrars and senior doctors in training, undertaking a medical fellowship is the final step before establishing yourself as a specialist in your field. Having a

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Insurance for doctors: the 6 common misconceptions of personal insurance

Personal Insurance, Uncategorized / By admin

There are many reasons why doctors [or anyone, really] don’t feel they need insurance, whether they believe they are healthy enough and don’t need cover, they are young and don’t have anything worth protecting, or they might be concerned that even if they have a policy in place, their insurer won’t pay their claim. This

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starting a private practice - 8 location and property rules

Starting a Private Practice: 8 rules for choosing the right location and property

Private Practice, Property Advocacy / By admin

Having a strategy for choosing your private practice location is paramount The location for a medical practice should be carefully considered and strategically decided upon with more than just a love for a specific suburb and a gut feel that the area will deliver on the right type of patients you want to attract. Starting

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senior registrar finding out how to become a surgeon in Australia

Senior Registrars: What you should know about becoming a surgeon

Private Practice, Tax & Accounting / By admin

Going from Senior Registrar to Surgeon isn’t only about your surgical skills Being a senior registrar brings additional responsibilities when it comes to your role and the work environment you’re in. Suddenly, you find that you are the “go-to” person on the ward for increasingly more of your junior colleagues and it often also

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