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For high-income professionals like neurosurgeons, superannuation is more than a retirement fund, it’s a powerful vehicle for tax planning and wealth building. With the right strategy, you can reduce your taxable income, grow long-term savings in a low-tax environment, and ensure your financial health long after your last procedure. Here’s how neurosurgeons can use superannuation to their full advantage in 2024–25. Why Superannuation Matters for Neurosurgeons Neurosurgeons are

Running an eCommerce business is fast-paced, but bookkeeping can’t be an afterthought. The Australian Taxation Office (ATO) is increasingly auditing online sellers. Often, red flags come down to one thing: poor bookkeeping. From cash flow mismatches to inventory discrepancies, the risks are real, and costly. Here are the top eCommerce bookkeeping mistakes we see, and why they could land your business in the ATO’s sights. 1. Using the Wrong Accounting Method: Cash vs Accrual M

Running a paediatric practice in Australia involves more than just caring for young patients; it also entails significant financial and tax responsibilities. For paediatricians in private practice or working as contractors, having a strategic tax structure can make a significant difference to your long-term financial outcomes. One of the most powerful tools at your disposal? A well-structured family trust. Let's explore how paediatricians can leverage family trusts and other

Choosing the right business structure is one of the most important financial decisions a doctor can make. It’s not just about tax, it determines your liability, asset protection, succession planning, and long-term wealth outcomes.

It’s one of the biggest misconceptions among influencers: “If I didn’t get paid in cash, I don’t need to declare it.” Wrong. Whether you’re receiving skincare bundles, clothing, tech gadgets, or event tickets, if it’s in exchange for content, it’s considered taxable income . The ATO is clear: barter and non-cash payments are assessable income , and yes, they want their share. What Counts as a Taxable Sponsored Gift? You must declare the market value  of any goods or services