The Money Doctors

Small business owners can take advantage of a tax incentive to improve operations and productivity with technology. Nick Fennessy, Director of the Bongiorno Group, says the scheme allows eligible business to claim an additional 20% tax deduction for technology-based expenses capped at $100,000. Nick discusses who is eligible and what they can claim under the Small Business Technology Investment Bo...

When you are hiring someone, it might be helpful to think about it in terms of commencing a relationship. That’s according to John Ryan, Senior Workplace Relations Advisor with AMA Victoria. And so, if it ever comes to letting a worker go because of poor performance of or other difficulties, he says, you are merely ending the relationship. In this episode, John reiterates to Tony Bongiorno, Direct...

If an employer has firmly decided to end the employment of a staff member, how can it be done respectfully, with generosity and quickly? John Ryan has facilitated these redundancy conversations for many years in his various roles. Today he is Senior Workplace Relations Advisor with AMA Victoria. In part 1 of handling redundancies, John joins Tony Bongiorno, Director of the Bongiorno Group, to disc...

Over the years AMA Victoria has continued to provided tremendous support for individual members, as well as the medical profession and the wider community. From a workplace relations viewpoint, the AMA team assists doctors concerned with their employment and negotiates enterprise agreements on their behalf. It also facilitates much needed initiatives like the Victorian Doctors Health Program and t...

The new financial year has seen the introduction of new rules to paid a parental leave, which is more attractive to new parents. To determine whether you’re qualified to take advantage of the changes, Ricky Caldow, Associate Director at the Bongiorno Group explains the details.  The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group – the preferr...

For the uninitiated, the financial and accounting world can be quite a complicated beast. The job titles alone reflect the myriad of different roles and services on offer.  Ricky Caldow and Mitch McKeown, both Associate Directors at the Bongiorno Group, discuss the different titles – including accountants, bookkeepers, mortgage brokers, financial advisors, and so on – and whether it’s possible the...

There are some things we put off thinking about or discussing because they’re just too depressing. Also, we don’t think it’ll happen to us…until of course it does. If you get injured or lose your life, being insured will help your loved ones financially.  In this episode, the Bongiorno Group’s Associate Director Ricky Caldow and Financial Advisor Jess Weaver explain some of the most important opti...

Before investing in anything – whether that’s shares, managed funds, property, etc. – it’s worth understanding your risk appetite. To ascertain that, it’s advisable to undergo a risk profile, by answering a set of questions to measure how aggressive or conservative you are in managing risk.  The Bongiorno Group’s Head of Advice Operations Stacey Forfar addresses the ins and outs or risk profiling...

If – heaven forbid – you are struck down by illness or worse, you would want the peace of mind that you and your family’s financial situation doesn’t also take an ill turn. That’s where an income protection policy is worth exploring, as a safeguard to those times of crisis.  Mitch McKeown and Ricky Caldow, both Associate Directors at the Bongiorno Group, explain how an income protection policy is...

Issues between individuals in the workplace can sometimes turn into disputes, with both parties at logger heads if left unresolved. According to John Ryan, Senior Workplace Relations Advisor with AMA Victoria, disputes between doctors and management most typically include rates of pay and hours of work, performance management, and disciplinary matters. John Ryan explains to Tony Bongiorno, Directo...

Workers across all industries, are subject to different rules, contracts and industrial awards. Where, then, does an enterprise bargaining agreement fit in – particularly in relation to medical professionals? To shine some light on the complexities is John Ryan, Senior Workplace Relations Advisor with AMA Victoria. John discusses with Tony Bongiorno, Director of the Bongiorno Group, those who migh...

When you first start a private practice or first receive payments through your own Australian Business Number, the tax you’re required to pay is not obvious and it’s not immediate. It feels as if, you’re on some kind of tax-free honeymoon. That’s according to the Bongiorno Group’s Director Jim Tsirtsakis. Be careful, he warns, as you can be slogged for a big tax bill at some point down the track....

Whether you’re looking to invest in apartments, units, or houses, or if you want to renovate, or build from scratch, you need to understand what your objectives are. That’s according to 1Group Property Advisory Director, Julian Muldoon, who discusses with Bongiorno Group Nick Fennessy the major things you should consider when investing in property. The Money Doctors Is proudly brought to you by le...

Salary packaging is an important way to reduce tax. To explain why, we hear from the Bongiorno Group’s Matthew Homewood and Mitch McKeown. The Money Doctors Is proudly brought to you by leading financial services organisation the Bongiorno Group – the preferred choice for medical and dental professionals. For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ This genera...

One of the biggest decisions for any a medical professional is buying a room. There are many things to consider, including the location, the business strategy, financing, and so on. To discuss the ins and outs is the Bongiorno Group’s Director, Jim Tsirtsakis, and 1Group Property Advisory Director, Julian Muldoon. The Money Doctors Is proudly brought to you by leading financial services organisati...

There’s so much to think about as a junior doctor. You’ve always got more to learn about your profession, as well as the financial pathway in your career. On top of all that is considering what insurance is right for you. It’s an important topic – and to help guide you through it is the Bongiorno Group’s Matthew Homewood and Mitch McKeown. The Money Doctors Is proudly brought to you by leading fin...

An important consideration for a lot of junior doctors is the impact inflation is having on their HECS debts. The big question is whether they should consider trying to re-pay earlier. The Bongiorno Group’s associate directors Vanessa Smith and Ricky Caldow explore the issue, including the loan’s indexation with inflation. The Money Doctors Is proudly brought to you by leading financial services o...

Is it worth buying an investment property first, before buying an owner-occupied home? That’s a question a lot of medical professionals ask Ricky Caldow, associate director at leading financial services organisation the Bongiorno Group. Rick discusses some of the many things to consider with 1Group Property Advisory Director, Julian Muldoon. For instance, whether you buy a home as an investment or...

Becoming a doctor is a long and arduous journey. It all begins with an undergraduate and post-graduate education, followed by a considerable HECS debt. That debt affects your capacity to borrow. So says Matthew Homewood and Mitch McKeown, from leading financial services organisation the Bongiorno Group. The Money Doctors Is proudly brought to you by leading financial services organisation the Bong...

There comes a stage early on in many a doctor’s career when they’ll need to consider obtaining an Australian Business Number, or ABN. To explain what it means in a practical sense, is the Bongiorno Group’s associate directors, Ricky Caldow and Mitch McKeown. The Money Doctors Is proudly brought to you by leading financial services organisation the Bongiorno Group – the preferred choice for medical...

A lot of doctors working at hospitals take up the opportunity to obtain a car via a novated lease. Salary packaging firms obviously have a stake in your choosing a novated lease. But, it’s important to have a careful look at the details, particularly the incentives around electric vehicles purchased through novated leases. The Bongiorno Group’s Associate Director Ricky Caldow and Director Nick Fen...

With the end of the financial year just around the corner, now’s the time to turn to all things tax. To help get your own house in order, in this episode we hear from Ricky Caldow and Mitch McKeown, both associate directors at leading financial services organisation the Bongiorno Group. They explain some of the important issues when lodging a tax return, including what you can and can’t claim. The...

As we approach the end of the 2022-23 financial year, it’s important for established consultants to plan for their tax return, if they haven’t done so already. The Bongiorno Group’s Associate Director, Ricky Caldow, and Director, Nick Fennessy, discuss some of the options available to help reduce your tax bill. They examine tax reporting issues include asset write-offs, superannuation, pay-as-you...

It’s almost overwhelming the number of things you must keep in mind when it comes to tax. In this episode, Nick Fennessy, Director at the Bongiorno Group, goes through just some of the “blue moon” issues that crop up from time to time for practitioners. They include, crypto investments, overseas income, rental properties, and claiming the home office as a tax deduction. The Money Doctors Is proudl...

At tax time, there are various rules around what you can and can’t claim as tax deductions. One area that’s particularly important for medical and dental professionals to understand is what’s called “a point too soon”. The Bongiorno Group’s Ricky Caldow and Mitch McKeown, explain the term: claiming a tax deduction that’s just too early to do so. The Money Doctors Is proudly brought to you by leadi...