New practice – beware the false ‘tax honeymoon’
from The Money Doctors Hosted by Bongiorno Group
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. In this episode, Jim discusses the issue with the Group’s Nick Fennessy. 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 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.
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