Author: healthbizaccounting
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2025–26 Tax Year Guide: Key Changes, Deadlines & Deductions
As the 2025–26 financial year gets underway, it’s important to stay on top of the latest tax changes that could affect your health practice or contractor arrangement. Whether you’re a sole trader, allied health provider, or specialist, this guide from Healthbiz Accounting outlines everything you need to know — with facts verified directly from the…
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Choosing the Right Business Structure for Health Contractors
For many health professionals in Australia—such as GPs, allied health practitioners, and medical specialists—working as an independent contractor offers flexibility and control. But choosing the right business structure is critical to maximising income, managing risk, and staying compliant with the ATO’s Personal Services Income (PSI) and Personal Services Business (PSB) rules. Here’s a guide to…
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2025-26 Federal Budget: Key Highlights for Healthcare Workers
— Written for contractors, salaried health workers & clinic owners The 2025–26 Federal Budget has just dropped, and while there’s a lot of political talk, here’s what you actually need to know — especially if you’re working in healthcare, running your own practice, or contracting in the health space. Let’s break it down in real…
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Wealth Growth Strategies for Australians
Increasing your personal wealth isn’t just about how much you earn—it’s about making the most of what you keep, particularly after you’ve paid your taxes. Below are some straightforward strategies you can consider to grow your wealth in Australia. Always remember that everyone’s situation is unique, so it’s wise to talk to a professional advisor…
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Grow Your Patient Base: Effective Strategies for Australian Healthcare
Bringing more patients into your healthcare practice isn’t just about advertising—it involves a blend of quality care, strategic marketing, and community engagement. Below are time-tested, practical methods to help you grow your patient base while maintaining high ethical standards and complying with Australian healthcare guidelines. 1. Build a Patient-Centric Reputation 2. Strengthen Your Online Presence…
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Managing ATO Payment Plans: Essential Tips
If you owe the Australian Taxation Office (ATO) money—be it for income tax, BAS, or another tax type—it can feel overwhelming. The good news is the ATO often allows payment arrangements, letting you spread out what you owe over time rather than paying a lump sum. Here’s what you need to know, explained simply. 1.…
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An Open Letter to Our Valued Clients – March 2025
As we step into the March 2025 quarter, we find ourselves in a pivotal period for both individuals and businesses preparing for the close of the 2024–2025 financial year. In the coming weeks, you may have several critical obligations and opportunities. We encourage you to stay on top of the following key areas: How We…
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An Open Letter to Our Valued Clients – December 2024
As we approach the end of the December 2024 quarter, we want to share a friendly reminder about key tax planning and compliance obligations in Australia. This period is a great opportunity to review your financial strategies and ensure you’re on track for the rest of the 2024–2025 financial year. 1. Business Activity Statements (BAS)…
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Understanding Personal Service Income (PSI) and Personal Service Businesses (PSBs) – An Overview for Dentists and Medical Doctors
If you’re a dentist or a medical doctor operating under your own name or through a company or trust, you may have heard of “personal service income” (PSI) and “personal service businesses” (PSBs). These terms can sound complicated, but it’s important to understand them because they affect how you’re taxed and what deductions you can…
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An Open Letter to Our Valued Clients – September 2024
As we enter the September 2024 quarter, we want to highlight a few important tax planning and compliance considerations for businesses and individuals across Australia. Proactive steps now can make a huge difference when it comes to meeting deadlines and optimising your financial position for the remainder of the 2024–2025 financial year. 1. Business Activity…
