Month: May 2018

The Royal Commission: cannot legislate good behaviour, so how do you protect yourself?

Five key tips towards finding a trusted ethical financial adviser In this article we cover the following key tips: Being financially self-aware and literate is the best protection you can give yourself Do not be fooled by glossy brochures and flashy offices, qualifications  or professional associations or organisations Do not be rushed into to doing anything, and

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New Data Privacy Laws breached every two days!

Australians’ sensitive health information, including data on women who have had abortions, is not being properly protected, a News Corp investigation has found. Under a new mandatory notification scheme, businesses must now report a data breach to the Office of the Australian Information Commissioner.  The first 37 days of the new mandatory notification scheme has

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New Tax warnings for doctors – Health care home tax ruling and excessive income splitting and service entities

There are two areas of concern: Homecare tax ruling Excessive income splitting and service entities   Homecare tax ruling Practices have been given up to 18 months to get compliant or lose out on the Practice Incentive Payments (even though trials are taking place). It is not certain whether the program will actually ever be

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Does your professional association represent you? What do you personally risk losing?

It is so important professional membership associations and not for profits to walk the talk when it comes to representing their members as well as the community’s best interest. This is about being open, transparent and accountable. By taking this for granted, this will risk any statutory privilege provided by the Government that their members

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Readers question – Why start succession planning when you start up your practice?

We have just received an important question from a reader, regarding succession planning. Practice manager ‘Ali’ asked; when do you start to think about succession planning… in particular about issues such as timelines, how long it takes on average to sell a practice, and whether staff are retained versus replaced?  When should you start planning? 

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Fixed Fee Financial outsourcing of your bookkeeping and or accounting – NEW!

If you cannot measure it you cannot manage it! Australian first for healthcare practices a new way to lower your overheads and improve profitability. What are the three important things people want in life? Go big, boutique or broke by tackling two of your greatest stresses There are three important things people want in life: That

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Doctors pay Calculator (‘DPC’) and service agreement a new national service just got easier and more cost effective! – NEW

Australian first for healthcare practices a new way to lower your overheads and improve profitability – NEW! Are you being paid correctly? You cannot afford to get your key providers pay wrong.Keeping their trust is a must. If you are paying providers a percentage of their gross fees, you will be pleased to know you

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