With a kick-butt deposit in your coffers and strong self-employed income as a specialist medical consultant, getting a home loan should be a cinch, right? Wrong! If you’re transitioning from a hospital-employed intern to a self-employed doctor, whether that be in your own private practice or as a contracting consultant, you’ll still have to show
On the evening of Tuesday 25 October 2022, Australia’s Treasurer, Jim Chalmers, delivered the nation’s 2022-23 Budget, Labor’s first since taking office earlier this year. While the Budget features a couple of key proposals aimed at providing cost-of-living relief for young families, it had a fairly light touch in the areas of taxation, superannuation and
Balancing the books is a crucial part of running a successful business and an important part of this is ensuring you meet ATO deadlines for compliance lodgements. The Australian Taxation Office (ATO) provides ‘Key Dates’ for all of the compliance lodgements. However, these deadlines can easily be overlooked by busy business owners which can create
Further to our article published a few weeks ago, ‘Queensland Land Tax Changes – Are you Affected?’, there has been some recent developments in this area. During the recent Prime Ministers National Cabinet Meeting in Canberra, it is reported that the Premier learned that the other states were not going to provide assistance as
If you’re considering a move into private practice, the process can certainly be a daunting prospect. There are many decisions to make, including the navigation of any financial pitfalls and long term planning to ensure financial success. Whether it’s starting with the right business structure, finding funding to establish your rooms, or protecting your growing
Are you considering establishing your own private practice? There are a number of general and professional factors to cover to ensure you get it right. Julian Muldoon, Director and Founding Partner of 1Group Property Advisory provides us with some key considerations to think about when it comes to this big decision. There’s an incredibly important
It is becoming increasingly popular for clients to buy property, subdivide and/or rebuild and then on-sell the property. The tax implications that result from these transactions can vary depending on the type of project undertaken, so careful consideration needs to be given to the factors that indicate the intention of the transaction/s. There are three
Buying into a Medical Practice partly or wholly can be a very daunting task which is generally capital intensive, but when performed correctly it can create a great investment vehicle which will continue to provide community health for future generations. The purpose of completing a due diligence is to confirm the facts provided by the
July 2022 saw a number of changes to the superannuation rules and many will have a positive outcome for members of superannuation funds. The changes were announced and legislated by the Morrison government so it’s important to note that the new government will be delivering its first Budget in October 2022. The superannuation tax concessions could be
