As a medical professional, you are provided with an avenue to reduce your tax commitment in a legal and, with the right assistance, easy manner through salary packaging. Salary Packaging is an important tax saving strategy for medical professionals as it allows you to pay for eligible expenses from your pre-tax income, rather than your post-tax income, and whilst the general concept of salary packaging is not overly complex, Walshs have a number of strategies to assist clients in making the most of their salary packaging benefits.
Walshs have a dedicated salary packaging division and specialist skills to ensure that you maximise your tax savings every FBT (Fringe Benefit Tax) year. Successfully managing your salary packaging as an intern can increase your tax savings by $1680*.
As part of our service, we not only set up your account, but manage it on an ongoing basis with our in-house dedicated team. To read more on the basics of salary packaging, click here.
We have completed thousands of medical professional’s tax returns over more than 25 years. Our specialist taxation experience helps to ensure your tax affairs are completed diligently and accurately, while maximising allowable deductions. For more information click here
Building wealth begins with a productive utilisation of surplus cashflow. Our advisers will sit down with you and produce projected cashflows in different scenarios to analyse the possibilities for investments and wealth creation in a simple to understand format.
This enables you to see where you could be putting your assets to work and the effect the different options may have.
Whether or not we’re paying down debt, setting savings goals or considering investment options, managing cashflow will set the foundation for your wealth creation journey. An example of this is one of the best habits and investments over the short term – reducing debt costs where possible (click here for more information).
When it comes time to think about your first house purchase or next property upgrade, our help with your budget in conjunction with our other services like free property reports becomes extremely useful in determining what property you can afford.