Medicare Levy: The Australian Healthcare Tax

Medicare Levy: The Australian Healthcare Tax

Do you know that most Australians pay a 2% Medicare Levy on their taxable income? This is essentially how our country funds the public health system. Thanks to this levy, essential medical services are available to everyone. It’s a vital part of our tax system and keeps our healthcare stable and high-quality. What is the…

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The 7 Types of Trusts in Australia You Need to Know

The different types of trusts in Australia are widely used as a preferred business structure when it comes to investments, managing the financial affairs for families as well as business purposes.  But did you know that there are a handful of different types of trusts in Australia? If you’re looking to open a trust, it’s…

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What Can Teachers Claim on Tax? (+ Checklist)

Did you know that teachers and those working in education are entitled to various industry-specific teacher tax deductions? These teacher tax deductions can significantly benefit your annual tax return, so it’s worth equipping yourself with the knowledge presented by the Australian Taxation Office (ATO). How do you qualify to claim teacher tax deductions? What are you…

Division 7A Loans
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Are Division 7A Loans Bad?

Are Division 7A loans bad? This query has echoed louder in the financial corridors with the recent uptick in interest rates. This article unpacks the intricacies and ramifications of Division 7A loans, shedding light on their real impact amidst evolving financial landscapes. What are Division 7A Loans? Division 7A loans are a provision within the…

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How To Choose The Best Accountant for Doctors

Medical professionals constantly juggle their day-to-day practice with the business side of things.  But let’s face it, as a doctor, you’ve got your hands full with patient care, so management and financial planning tends to take a backseat.  While a doctor’s primary goal is to focus on providing health services to their clients, they mustn’t…

When Will You Need An Accountant Letter?

When Will You Need An Accountant Letter?

An accountant letter is a document that is used to verify an individual’s or company’s financial status.  Banks, landlords, and other institutions often request it when someone is applying for a loan or credit card, trying to rent a property, or seeking other financial assistance.  An accountant’s letter can be a valuable tool in obtaining…

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