When I engage new clients, there are often a range of financial issues that need to be rectified or optimised. In this article I would like to highlight the 5 main ‘problem areas’ Doctors typically have not properly organised, and demonstrate how financial advice for Doctors is of tremendous value.
Unfortunately too many Doctors still work with generalist accountants. While many of them certainly provide solid advice, all too often I see incorrect tax advice getting Doctors potentially into trouble with the Tax Office, or missing out on valuable deductions or other tax savings.
There are specific tax rules that apply to medical professionals, and it is critical that you seek specialist advice to get the best outcome.
Also, tax planning is not about saving tax at every cost, without regard for the long-term consequences; it needs to be sustainable and be part of a holistic plan.
Yves Schoof and Affluence Private Wealth are Authorised Representatives of Synchron, AFS Licence No. 243313.
The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.
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