The Money Doctors Bongiorno Group

The Bongiorno Group’s Directors, Ricky Caldow and Mitch McKeown, continue with their line-by-line rundown of what you can and can’t claim in your tax return. In part 2, they cover conferences, donations, superannuation, and one of the more confusing items: “other”.

 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch. 

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.
See omnystudio.com/listener for privacy information.

Tax time is fast approaching, and the perennial question asked of accountants around the country is: “What deductions am I entitled to?”

The Bongiorno Group’s Directors, Ricky Caldow and Mitch McKeown, go through each item, line-by-line, specifically addressing deductions of medical professionals.

In this first of two episodes, Ricky and Mitch focus on work-related travel, clothing, and self-education.

 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch. 

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.
See omnystudio.com/listener for privacy information.

Higher Education Contribution Scheme (HECS) and Higher Education Loan Program (HELP) were designed to provide cheap loans for tertiary students to fund their education, the indexation of which has been traditionally linked to the consumer price index (CPI).

However, the indexation in recent times has spiked significantly, alarming both students and government. To address this, new legislation effective from June 1, 2023, ties indexation to the lower of CPI or Wage Price Index (WPI), ensuring HELP debts do not outpace wage growth.

To explain the measures and what it means to students with HELP or HECS debts is the Bongiorno Group’s Ada Bataski, Tax Supervisor and Mitch McKeown, Director.

 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch. 

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.
See omnystudio.com/listener for privacy information.

This year's federal budget was delivered by Treasurer Jim Chalmers, whose government is cognisant of cost-of-living pressures and keeping inflation in check. Nick Fennessy, Director at the Bongiorno Group, describes the budget as relatively harmless, with a surplus lower than the previous year.

He outlines some of the announcements, including tax cuts, modification of tax thresholds, energy bill relief, and modest super changes.

 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.
See omnystudio.com/listener for privacy information.

Variable and fixed-interest loans have their advantages and disadvantages, and what works depends on your particular circumstances. In this episode, the Bongiorno Group’s Senior Finance Consultant Mark Bremner and Finance Manager Jack Will discuss the implications of each, as well as the rationale behind splitting the two.

 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ 

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.
See omnystudio.com/listener for privacy information.

Depending on your circumstances, it might be worth opting for a stepped, level or hybrid insurance premium structure. First, it’s important to understand what stepped and level premiums mean. The Bongiorno Group’s Head of Risk Advisory Services, Yanish Geerdharry, discusses the difference between the two with Client Relationship Manager, Tom Will.

A combination of stepped and level premiums can offer flexibility and coverage customisation.

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ 

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.
See omnystudio.com/listener for privacy information.