Frequently Asked Questions
Yes, and more.
Generally, accountants will process your tax returns, but they don’t help you create a total financial plan for your life.
We help you get clear on what you want and how much income that you will require, then we apply the exceptional wealth model of Protection, Growth, and Enjoyment, so you can have the best chance of getting what you want at the lowest risk.
And yes, we are accountants and we will also process your tax returns.
Our integrated structure means we are able to keep our membership fees to a minimum, offering affordable fee structures to suit both senior and junior doctors.
Taking a holistic approach to your finances as early as possible is the most effective way to manage your money. Professional financial advisors are armed with a wealth of knowledge, supporting you to make strategic decisions whilst keeping you focused, saving you time and minimising risk.
When considering whether financial management is right for you, it pays to ask a few reflective questions;
- If a friend needed an advisor, would you recommend you?
- What is the value of your time compared to the monetary cost of using an advisor?
- Do you enjoy the process of investment research and financial planning or do you dread doing it to the point of neglecting your finances?
Membership with MedCapital provides the ability to manage your finance holistically, optimising your chances of financial success whilst minimising risk. This enables you to achieve your financial goals in a strategic and sustainable manner.
A MedCapital annual Membership costs $1000* and includes;
- Access to an individual Private Wealth Manager
- An individual tax return*
- *Required information must be submitted in mandatory format or additional fees may apply
- An Exceptional Wealth Plan tailored to your individual needs and updated annually as your circumstances progress and develop
- Support and advice regarding the implementation of your Exceptional Wealth Plan
- Access to and coordination of a full range of financial services and strategies required to help you achieve your financial goals
*We also provide membership packages for junior doctors at a lower cost
membership acts as a gateway to a full range strategies and services;
- Tax and Accounting
- Estate Planning
- Superannuation management and SMSF
- Debt management
Yes, we can support you with Business Activity Statements (BAS).
If you are a business registered for GST you need to lodge a BAS.
Your BAS will help you report and pay your:
- goods and services tax (GST)
- pay as you go (PAYG) instalments
- PAYG withholding tax
- other taxes.
If you are working as a locum in Australia you will need to apply for an Australian Business Number (ABN).
ABN application is straightforward and your ABN number will be generated almost instantly. We have a document to guide you through this process and would be happy to share this with you, just pop us an email firstname.lastname@example.org.
It is important to remember that using an ABN effects your tax liabilities and can have considerable benefits to growing your income when managed effectively. To explore the opportunities created when you start locuming arrange a Financial Health Check with a member of the team.
Minimising your tax bill is a result of effective structuring.
Get Started With Us Now
Talk to us about a free Financial Health Check
Speak to a member of the team today about what a Financial Health Check could do for you and schedule a convenient time to have a chat with one of our specialist Private Wealth Managers.