Financial Clarity for Life

Interprofessional practice is no longer optional in Australian healthcare – it’s the key to delivering safer, more accessible care while sustaining a stretched workforce in an increasingly complex system. In the first episode of the Interprofessional Practice podcast series, Bartons’ Director Adam McCann is joined by Dr Gerry O’Callaghan, who draws on decades of experience as an intensive care specialist, academic and policy leader to explain how growing patient complexity, workforce pressures and rising costs have exposed the limits of siloed care.  Dr O’Callaghan reflects on lessons from COVID-19, which revealed both system weaknesses and the untapped capability of healthcare teams working at the top of their scope. The conversation examines how policy, regulation and Medicare reforms are aligning to support team-based care, particularly in primary healthcare.  BARTONS 
https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

Investing in commercial property offers unique benefits and challenges, from higher yields and bespoke leases to tax considerations. Bartons’ Director Chris Waples and Senior Manager Matt Baczyk discuss the differences between commercial and residential properties.  Although commercial has distinct advantages over residential, commercial properties come with greater vacancy risks and require careful consideration of factors like lease terms, tax obligations, and zoning restrictions. For investors, strategies like using a self-managed super fund (SMSF) can offer tax benefits in retirement, but professional advice is essential to navigate the complexities of this asset class.  MORE INFORMATION  BARTONS https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

As the ATO ramps up scrutiny for the 2025 tax season, Bartons’ Senior Manager Matt Baczyk and Senior Accountant Mitch Tucker explore the key areas under review. They include home office deductions, rental property claims, Airbnb and holiday home income, side hustles, cryptocurrency transactions, and conference-related expenses. Matt and Mitch explain deduction methods, record-keeping requirements, and the ATO’s use of benchmarking and data matching. BARTONS
https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

From 1 July 2025, interest charges imposed by the ATO will no longer be tax deductible. Adam McCann, Director at Bartons, is joined by Chartered Accountant Matt Baczyk and Finance Broker Nicholas Elmassih to unpack what this change means for individuals, businesses, and companies with outstanding or future tax debts.  They explore the implications for cashflow and tax planning, and outline practical strategies to minimise the financial impact. These include early repayment, negotiating ATO payment plans, seeking interest remissions, or refinancing through non-bank lenders.  BARTONS
https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

There are significant financial advantages for South Australian doctors of Super SA’s Triple S scheme – if it’s used strategically. In this episode, Dr Paul Allcock is joined by Bartons Director Adam McCann and Director and Head of Strategic Advice, Adrian Guarino to unpack how medical professionals can optimise the unique benefits of the scheme; and more broadly, Dr Allcock’s personal and financial journey.  Dr Allcock shares his personal journey with superannuation and how early planning granted him financial independence. You’ll learn why Triple S is unlike other funds, how to navigate contribution caps, and why salary sacrifice and spouse splitting are game-changers for doctors juggling public and private roles. It’s a practical, insight-rich discussion for doctors looking to future-proof their financial wellbeing through smart, proactive planning.   BARTONS https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

Treasurer Dr Jim Chalmers delivered his fourth Budget this year with an eye firmly fixed on an approaching election. After two years of surpluses, Australia is heading back into deficit, with billions in red ink forecast ahead. But what does it mean for your taxes, business, and superannuation? And are the new tax cuts really worth celebrating?  To offer insights on what it means is Bartons’ Managing Director, Chris Waples, and Senior Manager, Matt Baczyk. They discuss individual tax cuts, business taxation, superannuation changes, and student loan relief.  BARTONS https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

Have you thought about investing in shares but you’re unsure whether it’s the right investment? Or, perhaps you simply confused with how to do so. Chris Waples and Chris Zucker of Bartons offer an overview of share investments, which historically provide higher long-term returns compared to other asset classes like cash or fixed interest.  Unlike property, shares are highly liquid, allowing quick buying and selling. There are tax advantages with shares and, with relatively small investments, shares allow easy diversification across multiple companies, reducing individual company risk. However, share markets can be volatile, requiring investors to manage risk and understand their tolerance for market fluctuations. Whatever your approach to investment, it’s important to seek professional advice and tailored strategies.  BARTONS https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

It’s tougher now than ever for younger Australians to get their foot in the property market. To help those looking to purchase their first home, the government has introduced the First Home Super Saver (FHSS) Scheme, which allows those eligible to make personal voluntary contributions into their superannuation fund to help them save for their first home.  To discuss how it all works is the team from Bartons: Director Adam McCann, Financial Advisor Teagan Loveridge, and Lending Advisor Teresa Reid. They explore eligibility criteria, contribution limits, tax implications, and withdrawal processes. BARTONS https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visithttps://www.bartons.com.au/contact/  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.

Like many doctors early in their careers, Dr Isobel Marshall is navigating the financial landscape to secure a stable future.  Last episode, she asked a range of common financial questions to Bartons’ Director, Adam McCann and Financial Advisor, Teagan Loveridge. This week, she focuses her queries on property, with a particular emphasis on buying a first home. They cover the benefits of joint property purchases, such as increased borrowing capacity, and explore strategies like rentvesting, tax advantages through negative gearing, and the First Home Super Saver Scheme to help individuals enter the property market. BARTONShttps://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

Starting a career often brings financial questions, especially for medical professionals with limited financial literacy. In this episode, we address some of the more common money issues junior doctors are thinking about. Dr Isobel Marshall, a former Young Australian of the Year, is starting her internship in the South Australian public health system. She sits down with Bartons’ Director Adam McCann and Financial Advisor Teagan Loveridge, armed with a range of questions on how to optimise her finances. The discuss salary sacrificing, strategic HELP debt repayments, long-term investments like shares and tax-efficient superannuation funds. Bartons Tax Checklist https://bartons.snapforms.com.au/form/2024-medical-checklist BARTONShttps://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.  Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

The team at Bartons are often approached with common (and sometimes uncommon) tax-related questions that arise from high-income clients, especially medical professionals. Madison Vizzari, Assistant Manager in Bartons’ Accounting Team, and Matt Baczyk, Bartons’ Senior Manager, discuss some of the frequent ones, including enquiries involves structuring income to minimise tax.  Other queries include travel deductions, investment property repairs and improvements, entertainment, and a range on miscellaneous tax deduction expenses. As with most tax matters, consulting an accountant is vital, as many tax rules are nuanced and situation-specific, ensuring the best possible outcomes. BARTONS https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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.

With housing prices at historic levels and interest rates stubbornly high, it’s become increasingly difficult for young people to get their toe into the housing market. Is it worth their parents putting their hands in their pockets to help out? Bartons Director Adam McCann explores the issue with Matt Baczyk, Head of Bartons Medical Division and Teresa Reid, Finance Broker from Bartons Lending Services. Parents can assist their children through methods like gifting money, providing loans, or acting as guarantors, but there are legal and financial implications. They also examine government incentives, including the First Home Owners Grant and stamp duty concessions. Parents considering support should assess their financial security and retirement plans. BARTONS https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visithttps://www.bartons.com.au/contact/ 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.

Many people dream of owning a weekend getaway, often by the sea or in the countryside, once they have secured their finances and have surplus income. When buying a lifestyle property, it is crucial to balance emotional desires with practical considerations. That’s according to Bartons Managing Director Chris Waples and Director Adam McCann, who discuss the important financial and tax implications for holiday homes. While holiday homes can offer lifestyle benefits, they shouldn’t be viewed purely as investment assets. MORE INFORMATION BARTONShttps://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

Medical professionals who are considering a novated lease for a vehicle because of its flexibility and tax benefits, need to be aware of the potential drawbacks they could bring. Adam McCann, Director at Bartons, and Matt Baczyk, Chartered Accountant and Senior Manager, explore the finer details associated with novated leases to help medical professionals make informed decisions about acquiring a new vehicle. BARTONS
https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/  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.

The price of property, particularly in the capital cities, has made it increasingly tough for first home buyers to get their foot in the door. An alternative to purchasing a property to live in is buying an investment property.   To discuss the alternative is Bartons’ Director Adam McCann and Operations and Lending Manager Paul Luders. They also examine “rent-vesting”, specialising loans for medical professionals, and why property investment should be viewed as a long-term strategy. BARTONS
https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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.

When it comes to young Doctors entering the property market, it’s worth having an integrated approach, combining accounting, financial planning, and lending services to optimise financial outcomes. That’s according to Adam McCann, Director at Bartons, and Teagan Loveridge, Provisional Financial Advisor at Bartons. A holistic service contrasts with standard bank evaluations, which focus solely on occupation, income, and savings. The team at Bartons emphasise the significance of structuring loans to maximise both flexibility and tax-deductible debt, strategies often overlooked by regular banks, but essential for long-term financial planning and property investment. BARTONS
https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visithttps://www.bartons.com.au/contact/ 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.

Super SA is the default superannuation scheme for public sector workers in South Australia, offering distinct advantages over traditional super funds. Unlike public offer funds, Super SA provides flexibility in concessional contributions. Bartons' directors Adam McCann and Adrian Guarino discuss the nuances of Super SA and managing tax implications with super in general. They also explain how medical professionals can leverage spousal accounts to double the contribution cap, optimising tax benefits and ensuring efficient wealth accumulation for both partners. BARTONShttps://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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 productSee omnystudio.com/listener for privacy information.

Since late 2023, uncertainty has loomed over the medical profession regarding the application of payroll tax to medical practitioners. While general practitioners have received considerable attention, specialists have also been impacted, according to Bartons’ senior manager Matt Baczyk and director Adam McCann.Medical practices and individual practitioners should review their arrangements and seek professional advice to ensure compliance with payroll tax regulations. By understanding the nuances of payroll tax rules and implementing proper structures, medical professionals can mitigate risks and focus on providing quality patient care.BARTONS https://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors.Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/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.

While people often consider their tangible assets, such as homes or savings, their most valuable asset is actually their earning potential over their working life. And so, it’s worth protecting yourself from injury or illness with income protection insurance. Many medical professionals may already have some level of coverage through their superannuation funds, such as SuperSA. This coverage, however, is often insufficient, especially for those with private income streams or longer duration disability. Adam McCann, Director at Bartons, and Teagan Loveridge, Provisional Financial Advisor at Bartons discuss different options and recent legislative changes in insurance policies. BARTONS
https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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.

High-income earners need to be aware of an extra levy imposed on their superannuation contributions. The government introduced Division 293 tax to ensure that high-income earners don't enjoy disproportionate tax benefits from their super contributions compared with lower-income earners. By increasing the tax on super contributions for high earners to 30%, it aims to balance the tax benefits across income brackets. Matt Baczyk, Senior Manager in Barton’s Business Advisory and Tax team, and Adrian Guarino, Head of Strategic Advice and Senior Financial Advisor at Bartons, discuss strategies to effectively manage the impact of Division 293. BARTONS
https://www.bartons.com.au/ Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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.

Healthcare is being revolutionised by the rapid growth of AI technologies, particularly generative AI like ChatGPT. The automation of routine administrative tasks is allowing healthcare professionals to focus more on patient care. That’s according to Chris Foster-McBride, CEO of AI start-up Digital Human Assistants. Chris’s career began in hospital operations and the UK health system before transitioning to data analytics and AI, leading to the founding of three AI startups.  He discusses with Adam McCann, Director at Bartons, the increasing role AI will have in the medical profession.  MORE INFORMATION 'Expert guidance on governance of the evolving AI technology', Australian Institute of Company Directors: https://www.aicd.com.au/innovative-technology/digital-business/artificial-intelligence/expert-guidance-on-governance-of-the-evolving-ai-technology.htm Digital Human Assistantshttps://www.digitalhumanassistants.io/ BARTONShttps://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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.

Not all debt is bad. In fact, a typical investment journey for a medical professional begins with the purchasing of property, which involves substantial debt. Often it leads to transitioning to an investment property later in their career. Bartons’ Director Adam McCann and Senior Manager Matt Baczyk underscore the importance of structuring debt correctly, including utilising offset accounts, to maximize tax benefits and financial flexibility. Getting the structure right from the outset is crucial – and that means obtaining the right advice from your accountant. BARTONShttps://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit bartons.com.au/contact 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.

With a backdrop of high inflation and cost-of-living pressures, Treasurer Jim Chalmers delivered the 2024-25 federal budget. To provide insights on what it means is Bartons’ team of wealth advisors and tax experts, including: Director Adam McCann, Director Adrian Guarino and Senior Manager, Matt Baczyk. Some of the key themes include cost-of-living relief, personal tax, superannuation, healthcare, small business support, and student HELP debt. BARTONShttps://www.bartons.com.au/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit https://www.bartons.com.au/contact/ 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.

As the end of the financial year approaches, Bartons’ director Adam McCann and senior manager Matt Baczyk delve into some of the important considerations for medical professionals regarding tax and tax returns. They discuss historical areas of focus for the Australian Taxation Office, including key deductions, record-keeping practices, and the unique characteristics of income protection premiums. Good record-keeping, they insist, is crucial for substantiating claims and ensuring compliance. MORE INFORMATION 2024 Medical Checklisthttps://bartons.snapforms.com.au/form/2024-medical-checklist Investment Property Formhttps://bartons.snapforms.com.au/form/investment-property-worksheet BARTONShttps://www.bartons.com.au/  5-MINUTE CLARITY CALLhttps://www.bartons.com.au/contact/  Financial Clarity for Life is proudly brought to you by Bartons, Chartered Accountants and Wealth Advisors. Bartons is offering you the opportunity for a 5-minute financial clarity call. Please visit bartons.com.au/contact 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.