As a healthcare practice owner, staying on top of superannuation obligations is not just good business practice – it’s a legal requirement. Late or missed super payments can lead to significant financial penalties, administrative burden, and personal liability for company directors. Understanding your obligations and the consequences of late payments is critical to maintaining compliance […]
The True Cost of Missing a Super Payments Deadline – And How to Avoid It Read More »
Owning a healthcare practice is no small feat – you’re juggling patient care, staff management, and ever-changing regulations. But when it comes to your finances, do you have the right support? Choosing an accountant who specialises in healthcare isn’t just a nice-to-have; it’s a game-changer. They understand the unique financial challenges of your industry, from
Own a healthcare practice? Here’s why a general accountant won’t cut it Read More »
No matter how far off retirement may seem, maximising your superannuation is crucial to securing your financial future. Yet, many healthcare professionals hesitate when it comes to Self-Managed Super Funds (SMSFs). Some find the idea too complex, while others think the management costs involved will outweigh any benefits. However, managing an SMSF can be simpler
Not sure about moving to an SMSF? Here are 9 reasons that may change your mind Read More »
The new year is often a time for fresh starts and big decisions. As a dental, medical, or veterinary professional, you might be considering taking the leap into practice ownership. Whether you’re dreaming of creating a brand-new practice or purchasing an existing one, the journey to becoming your own boss is exciting, but requires careful
Thinking of Starting Your Own Healthcare Practice in 2025? Here’s Where to Begin Read More »
As the year comes to a close, many of us start thinking about our future, and what plans can be put in place to ease up on work commitments. When you own your own healthcare practice, the transition to retirement involves much more than personal planning – it requires strategic foresight to ensure the future
Dreaming of retirement? Here’s how to prepare your healthcare practice Read More »
For healthcare professionals, taking the leap into practice ownership is a significant milestone. One of the first big decisions you’ll face is whether to buy an existing practice or start your own from scratch. Both options come with distinct advantages and challenges, and the right choice depends on your goals, resources, and circumstances. Whichever option
Christmas is the perfect time to celebrate your team’s hard work and toast to the year’s successes – but it’s also a time when tax regulations can sneak up on you like the Grinch. But don’t worry! With a bit of planning, you can enjoy the festivities without any surprise tax bills lurking under the
Be merry and tax-savvy: Christmas planning tips for your practice Read More »
Every June is an exciting time in the accounting industry as tax planning is high on the agenda. Accountants have been eagerly awaiting this time of year as it is the perfect time to introduce the “Bucket Company” to their highly profitable clients. However, their excitement quickly leads to exhaustion as they find themselves explaining
What Is A Bucket Company? Read More »
Imagine your dream of a family legacy, then imagine it turn into a nightmare. Only 25% of families report feeling confident their trust reflects their wishes and 80% of trust disputes involve beneficiaries feeling excluded or unfairly treated. Could your trust unknowingly lead to a future family bust-up? While a will dictates the distribution of
Family Wealth Transfer – Wills vs Trusts Read More »
A dental trust is a legal entity that provides dental care to its beneficiaries, who are usually employees of a company or members of an organization. A dental trust is different from a dental insurance plan, which is a contract between an individual and an insurance company. A dental trust is funded by contributions from
Dental Practice Ownership – Service Trusts Explained Read More »
