DPM 5MAR21 434 existing medical practice

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 existing medical practice

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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pexels elina fairytale 4543674 existing medical practice

DPM Wellbeing Week 2022

People & Culture / By admin

Wellbeing Week at DPM is all about forming connections with others, making time to look after our bodies and minds, and improving our overall wellbeing. DPM Wellbeing Week 2022 featured both virtual and in-office activities, in line with our Hybrid Working Model. We held yoga classes and lunchtime walks, breakfast smoothies with a live demonstration

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doctor going guarantor on a home loan for adult daughter existing medical practice

Going guarantor on a home loan: What doctors should know

Lending / By admin

Going guarantor for your children, yes or no? With the continued rising costs of residential property across the country, many young Australians have been priced out of the property market. This has been exacerbated by the recent RBA rate rises [June 2022], inflationary pressures on daily living expenses and building costs as well as rising

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Australian doctor studying div 293 tax for doctors

Managing Div 293 Tax for Doctors

Tax & Accounting / By admin

Managing Div 293 tax for doctors Doctors coming to the end of training will be happy to see some reward for many years of hard work and study, being a jump in income. It is crucial to understand how such a jump can impact your tax. For starters, everything you earn over $180k is

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reasons why specialist surgeons need medical financial advice

4 reasons doctors need specialised medical financial advice

Lending, Personal Insurance, Private Wealth, Tax & Accounting / By admin

How medical financial services compare with non-specialised firms As a doctor, you know that choosing the right person to give you advice can make all the difference long term. Think about GPs – we all know how amazing they are at what they do. But you wouldn’t ask a GP to do a hip

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GP in Australian rural clinic seeing patient

Removal of HECS-HELP fees for medical professionals working in rural areas

Tax & Accounting / By admin

Removal of HECS-HELP fees for medical professionals working in rural towns There have been several initiatives launched by Governments since the pandemic to boost the health resources within the Australian community. Whilst the impact of COVID on the healthcare system [still] rages on, demand for medical professionals in rural towns, specifically for GPs, are

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