The Private Practice Big Weekend – Oct 2017
October 11, 2017
0
58858a5dcc0b6

58858a5dcc0b6Our Partners and long time supporter The Private Practice is holding this unique learning and lifestyle event in the heart of Adelaide Hills wine country.

Designed as a family and/or whole-practice bonding and motivational retreat, delegates will experience fine dining and wining, whilst being exposed to the secret wheels of happiness and success.

October 20th 8:30am to October 22nd 3:30PM at Mount Lofty House, Adelaide Hils.

Key Features:

  • CPD point entitlement
  • Three days of interactive lecture and workshop style presentations
  • Exclusive winery tour and tasting experience
  • Fine dining lunch and dinner
  • All presenters are leading professionals in business and financial disciplines specialising in healthcare consultancy
  • Personalised needs analysis and action plans
  • Course workbook and resource library
  • Networking social functions
  • Morning tea, lunch and afternoon tea provided

The ADSN is really excited to offer a discount for our members attending this event. When registering for this event please use the discount promotion code: ADSN 

This entitles delegates to a discounted registration fee of $990.00 as opposed to the standard fee of $2,145.00, a saving of $1,155.00.

 

For more information visit: https://events.theprivatepractice.com.au/event/M7QSWC

NSW ANZCA Part Zero Course – Oct 2017
October 4, 2017
0
ANZCA NSW Part Zero October 2017
PartZero

Click the image to download the information flyer

Is your medical spouse interested in Anaesthetic training or have they recently secured a job in the anaesthetic training program for 2018? NSW branch of Australian and New Zealand College of Anaesthetics (ANZCA) is hosting a Free Part Zero Course on Saturday 21st October 2017 10am – 4pm at ANZCA NSW Office 117 Alexander Street Crows Nest, NSW, 2065. This course introduces what is involved in Anaesthetics training and spouses are invited to attend the final session at 2:20pm.

Who Is It For?

  • New anaesthetic trainees and partners (partners from 2:20pm)
  • JMSs interested in anaesthesia
  • Supervisors of training
  • Head of departments.

Program Highlights

  • CV, interview, selection – how to get on training?
  • Anaesthesia training – what is ahead for you and your family?
  • Top training tips – curriculum/TPS/WBAs made easy.
  • How to study and PASS the primary exam
  • FANZCA career options.
  • Trainee welfare and mentorship.
  • Meet and greet fellow trainees, SOTs and HODs
  • Drinks from 4pm.

Our very own ADSN Advocate Tania Tobin will be there representing ADSN and would love to meet you!

Please RSVP to Tina Lyroid nswcourses@anzca.edu.au by Friday October 13, 2017

The art of belonging
IMG_0158

 

The Art of Belonging

IMG_0158

My daughter and I are in a craft shop and there are series of mindful colouring posters on sale. One reads ‘Bloom where you are planted’. Its naff, but there is something in the message that brings me to reflect on blooming wherever it is that you are planted.  On the Art of belonging.

My parents are civic minded. They are a part of their community. They belong because they a connected on many levels to the people and place they chose to raise our family. Growing up I saw first hand how it was done. This belonging thing was something I took for granted, being rooted in a place and a people seemed effortless to the child in me. I could not imagine life any other way.

Fast forward twenty years of growing up and I am faced with the challenge of cultivating in my own family that sense of belonging. And I have learnt that there is an art to this belonging. And it is an art to be cultivated.

I am the eldest child in a family of seven. My mother and father have worked and served side by side in the country town I was born into for much of their adult life. I went to the same preschool, primary school and secondary school. Growing up I was surrounded by friends I have no recollection of not knowing. I never knew what it was like to start at a new school, new church, new town. I never knew how it felt to be an outsider. I took for granted my belonging.

On the first day of school this year, my eldest daughter bounded into school with a look of sheer joy on her face. She turned to me as we walked amongst other parents and children saying hello and sharing tales of summer holidays. “Mum, I am so happy that I am coming back to the same school.” Her gratitude for belonging brought the limitations of our itinerant life into sharp focus.

What a precious gift this fleeting sense of belonging is to our girl. Precious because it is not how it has always been. Nor is it how it always will be.

You see, our eldest has never known what it is like to return to the same school after the summer break. She knows being the new kid, spending months figuring out who is who and where she fits. She knows being the kid who is lauded as resilient and adaptable, but does not know what it is like to belong effortlessly.

So how do we cultivate belonging in our family? There are a few things we have done over the years to surround ourselves with community in places that are not our own.

  1. Say Yes! to everything.

People will open their homes and lives to you if you just say yes. We have been humbled by the generosity and openheartedness of virtual strangers. They have invited us to be a part of their lives, their hobbies, their home towns and their friendship groups. We have said yes to Brazilian jujitsu, marching in parades, various sports, outdoor activities, community groups and a broad variety of faith communities. We have made it a general rule to withhold judgment and embrace these invitations and have found that good things come when you say yes (even when you feel like saying no).

  1. Build stability within your own family unit

We have been intentional over the years about giving our children a strong sense of what it means to be a citizen of our family. We have stuck with family traditions and customs that travel with us wherever we go. The rhythm of our week and year as a family has been grounding for us all. The simplest things, be they movie nights, advent calendars or a book before bed can nourish a family who are undergoing change.

  1. Find your tribe

We are a Christian family and have found that wherever we go we have been nurtured by our faith community. We have been blessed with pastoral care and instant community in places and with people that are foreign to us. We share a common faith. These communities have been a great comfort to us. We don’t however think that this is the only way to find your tribe. Any activity that allows you to gather with like minded individuals who share your values will place you in a tribe. Perhaps this looks like yoga and meditation to you, or a group bound by a shared love of sports, environmental action, or even a book group? The possibilities are endless, and boundless.

  1. Slow down and Hang out

We spend a lot of time in playgrounds, school yards and parks. Fresh air? Check. Physical activity? Check. New Friends? Check!

Some of our best friends, both big and little have been made in in public spaces. Life in apartments and town houses has forced us out into public spaces and what we have found in those places is a local community. We have found that if you slow down, linger a while, dawdle and daydream, that you will find others doing the same. These public spaces, the local park, the school yard, offer so much opportunity to connect to a place and to its people. After years of my girls saying “Lets go to the park and find some friends” I finally realise that they are way ahead of me. They are programmed to belong and form friendships, I am slowly learning from them.

  1. Encourage gratitude

When conversations arise, and they frequently do, about friendship and relocation we try to encourage gratitude for the grand adventure we are on. Yes, it is hard and sad to leave the friends and communities that we grow attached to. But, we remind ourselves and our children, how fortunate we are to have formed so many relationships and carry with us such varied treasured memories.

There is an art of belonging. With practice it brings an extraordinary and liberating confidence in our collective capacity to bloom where we are planted.

Jenny

 

Support for one of our own – The family of Dr Pritzwald-Stegmann
IMG_6383

IMG_6383

Members of the ADSN where deeply sadden on the 28th June 2017 to hear the passing of Dr Patrick Pritzwald-Stegmann, 4 weeks after he was attacked outside his workplace hospital at Box Hill in Victoria. Hearing of the news members all echoed the same thoughts about a desire to help his wife. A collection was opened to raise money to give to Dr Patricks wife as a small gesture of help in this horrific time.

A total sum of $2,000 was raised by 27 members of the ADSN. The generosity was overwhelming. $200 was donated to The Foundation for Surgery at the Royal Australasian College of Surgeons towards their newly established Dr Patrick Pritzwald-Stegmann Cardiothoracic Young Achievers Award. $100 was used to send a fruit basket to Box Hill Hospital Staff, to acknowledge their loss. The remainder $1,700 was forwarded to Christine, his wife in form of gift cards (Woolworths, Colse and Gourmet Dinner Service). A card was sent along with many sympathy wishes from members.

Box Hill Hospital helped the ADSN to forward our gift to Christine. We were given confirmation from Eastern Health (Box Hill Hospital) that Karen Fox and David Plunkett from Eastern Health met up with Christine on August 18 and were able to give our gift to her then. They thanked us for our thoughts and extremely generous gift.

Our card had the following message:
Dear Christine, Elsa & Sophia,
We cannot even begin to understand what you are going through right now. We would like to offer our condolences to you and your family.
Please find enclosed a gift from us that we hope will help you in this difficult time and know that you are in our thoughts.
With Love, Australian Doctor’s Spouse Network

ADSN wants to say a huge thank you to everyone that donated, your generosity and support was overwhelming.

Tania.

IMG_6387IMG_6384

April 2017 Meet Ups
April 10, 2017
0
Melbourne Cover

In Early April 2017 we had three meet ups – Newcastle, NSW; Melbourne, VIC; and Canberra, ACT.

Newcastle Melbourne Canberra

Newcastle

On Saturday 1st of April Kenna and Tania got together with their kids at New Lambton Park. Despite the low numbers they had fun and their kids had a blast climbing trees.

Melbourne

It was a small gathering and a rather cold morning at Fitzroy Gardens on Sunday 2nd April. The kids played and adults got a nice chat together.

Canberra

Weston Park hosted a lovely morning out on Saturday 8th April. A lovely time was had by all.

Upcoming: Perth

A few spouses are getting together at Mueller Park in Perth for a casual get together on Sunday 19th April 2017 – if you are new in Perth, and/or would like to meet other medical families, come along! All Welcome! Check our Facebook Event for more details.

Receiving lump sum payments
dr tax

Lump sum payments received by healthcare practitioners –

Ordinary Income Not Capital Payments

 

The ATO are concerned about healthcare practitioners receiving lump sums and treating them as capital payments and have released a detailed fact sheet setting out what they expect to see in such situations.

If a healthcare practitioner (such as a doctor, dentist, physical therapist, radiologist or pharmacist) gets a lump sum payment from a healthcare centre operator, according to the ATO “it’s probably not a capital gain. It’s more likely to be ordinary income”.

Specifically, the lump sum will typically be ordinary income of the practitioner for providing services to their patients from the healthcare centre. Importantly, the mere fact the payment is a oneoff lump sum, or expressed to be principally consideration for the restraint imposed, for the goodwill or for the other terms or conditions, does not define it as having the character of a capital receipt.

Lump sum arrangements

In the healthcare services industry, it is now common for some practitioners to operate from healthcare centres run by third parties. This frequently occurs without any stated partnership or employment relationship between the third party and the practitioner.

The third parties that run these centres generally encourage practitioners to start work or continue to work from their centres. They may offer lump sum payments for this purpose and there is nothing wrong with that. Our concerns relate to the tax treatment of the lump sum payments by the practitioner.

The ATO’s concerns may affect you if your arrangements have most or all of the following features:

  • A healthcare centre operator provides you with fully equipped consulting rooms, administrative services, clerical staff and facilities as necessary for you to provide healthcare services. The agreements entered into typically state that there is no employment relationship between you and the operator.
  • In return for these facilities and services, you are required to pay the operator an agreed percentage of the receipts for the healthcare services you provide.
  • You are required to provide healthcare services from the healthcare centre for an agreed minimum period of time, minimum weekly working hours and working patterns.
  • You are required to use your best endeavours to grow and promote the interests of the healthcare centre.
  • The operator pays you a lump sum
    • it is described as being consideration for a restraint imposed, for goodwill, for other terms or conditions, or for a combination of the three
    • the payment is ordinarily made when you enter into the agreement or start to provide healthcare services to patients from the healthcare centre (whichever is the later) or whenever the agreements relating to the provision of healthcare services are renewed.

Whilst these are common features, any other arrangements that relate to a lump sum payment for your ongoing provision of healthcare services from a medical centre may still be of concern to the ATO.

If you are considering any arrangements that relate to a lump sum payment for commencing or providing ongoing healthcare services, you should note that the ATO:

  • have concerns with those payments being mistakenly treated as capital gains
  • are looking closely at these arrangements to determine if they are compliant with income tax laws and whether the anti-avoidance provisions may apply.

The ATO are aware that some practitioners are using a private ruling that was issued to another taxpayer:

  • You can only rely on a private ruling if you applied for it.
  • From 2013, the ATO have consistently issued private rulings on these or similar arrangements treating the whole of the lump sum payment as assessable ordinary income.

If you think this may affect you, we can help you work out what you need to do.  Call Stellar Accounts on 07 3359 0014.

 

Screen Shot 2017-03-15 at 10.49.02 am

Tania
March 29, 2017
0
Tania

Tania

Name: Tania
Current Home Town: Newcastle, NSW
Family Profile: An Anaesthetics Reg husband and two kids – 5.5 year old boy and 3.5 year old girl
Occupation: Home Maker but also a Freelance Graphic Designer and Stampin’ Up! Demonstrator

What book are you currently reading? I don’t really read books, I read cross stitching patterns and at the moment carefully studying a card making supply catalogue from Stampin’ Up!

What TV Show are you currently watching?: I’m re-watching Once Upon a Time from season 1.

How many years have you been married? We celebrated our 10th wedding anniversary in January this year, we go married 1 week before hubby started Med School.

Where has your family’s medical journey taken you? We moved from Sydney to Wollongong for Med School. Since then we have lived in Westmead (Sydney), Orange, Gosford, and now in Newcastle.

How has being the spouse of a medical student, junior doctor, or consultant affected your career? When we lived in Wollongong I commuted 2 hours one way for my university degree and then job in Sydney. After having the kids we found with all the moving is easiest for me be at home, last year I started to freelance and I love that I can work that around everyone schedules. This year I signed up to be a Stampin’ Up! Demonstrator. I’m really loving making cards for our family and friends and holding card making classes. It’s been an awesome distraction from hubby’s exam study and crazy shifts.

What challenges have you faced during your years as a medical spouse? The biggest challenge really is that associated with moving and having to start again. Our son has been to two different preschools and now has started a new school – each year he’s had to make new friends. He has adjusted to this wonderfully, and we’ve all learnt to make new connections.

What tip or advice would you give to other medical spouses? Its easy to become resentful, particularly when you compare your life to non medical families. My advice is firstly don’t compare and treasure the times you have together, in the other times find friends who you can connect with and make your own memories in each new place you live in.

What’s in your future? This year we are in Newcastle and next year is yet a mystery though we hope to stay around here and we are enjoying the lifestyle here and I really don’t feel like starting all over again next year. I’ve made such great connections here.

Doctor’s deductions
doctors

 

Doctors – is your Accountant Claiming all the

Deductions You are entitled to?

Work-related self-education

Work-related self-education expenses are a key deduction for Doctors.  It is important that you have a system in place for tracking all your education costs, including

  • textbooks
  • materials
  • course/seminar fees
  • home-office computers and furniture for study
  • photocopying costs
  • student services fees, and
  • course-attendance-travel costs.

 

Other work-related expenses

Other work-related expenses cover many types of expenses that you incur in the process of earning your assessable income.

This might include:

  • purchasing a briefcase
  • buying a stethoscope and other equipment
  • phone and internet expenses
  • travel and accommodation costs for attending a conference
  • membership fees for professional associations
  • journal subscription fees; and
  • insurance and medical registration fees

Remember, when claiming a work-related expense, you must have already paid for it yourself and not been reimbursed by your employer for the cost.

 

Home-based work expenses

As medical practitioner, if you work from home at times, you might be able to claim for expenses such as:

  • using your computer,
  • phone, and
  • internet for work purposes.

Heating, cooling, lighting, office-equipment depreciation, and at-home professional library could all be tax deductible expense.

However, you can only claim for the portion of the expense that’s used for work purposes.

 

Vehicle Expenses

Travel costs you may be able to claim can include:

  • travel between hospitals or medical centres for work.
  • travelling to do work in remote, rural, or interstate areas, and
  • travel for functions and events that are related to your work.

If you attend and present at a function or conference for example, you might be able to claim for everything from airfares, accommodation, meals and the cost of having conference materials printed out.

If you travelled partly for work and partly for personal reasons, you can only claim on the part that was for work purposes. Note that if your home is a base of employment in that you started your work at home and then travelled to a workplace in continuation of the work, you could claim for these travel expenses.

Maintain a logbook to ensure you can claim all vehicle expenses including:

  • Fuel
  • Registration
  • Insurance
  • Maintenance
  • Interest on car loan
  • Depreciation

In Summary

Speak to a professional to ensure you get all the deductions you are entitled to.

The most important tip is, if you purchased a good/service for work purposes, keep your receipts and discuss the ability to claim this as a deduction at income tax time.

At Stellar Accounts we are always looking for ways to minimise tax for our clients.

Screen Shot 2017-03-15 at 10.49.02 am

Discretionary Trusts
Conceptual symbold home made from black and white hands isolated over white backgroundConceptual symbold home made from black and white hands isolated over white background

Discretionary Trusts – are they the new company?

 

Thinking you have outgrown your soletrader status? Looking to minimise your tax? Have you considered entering into a Family Trust structure?

The term family trust refers to a discretionary trust set up to hold a family’s assets or to conduct a family business. Generally, they are established for asset protection or tax purposes.

What is a Family Trust in Australia?

An Australian family trust:

  • is generally established by a family member for the benefit of members of the ‘family group’;
  • can be the subject of a family trust election which provides it with certain tax advantages, provided that the trust passes the family control test and makes distributions of trust income only to beneficiaries of the trust who are within the ‘family group’;
  • can assist in protecting the family group’s assets from the liabilities of one or more of the family members (for instance, in the event of a family member’s bankruptcy or insolvency);
  • provides a mechanism to pass family assets to future generations; and
  • can provide a means of accessing favourable taxation treatment by ensuring all family members use their income tax “tax-free thresholds”.

A family trust has many other potential benefits, including avoiding issues such as challenges to the will following a death of a senior member of the family.

Tax Implications

Companies are currently taxed at 28.5% from the first $.

Trusts on the other hand, are not taxed. Instead, the profits are distributed to beneficiaries of the trust and are then taxed at individual marginal tax rates – ie each beneficiary is entitled to the $18200 tax free threshold.

For example – a business ends the year with a 75000 profit –

Company – $75000 @ 28.5% = $21375

Trust with 3 beneficiaries – 75000/3 = $25000 is distributed to each beneficiary resulting in them paying $1292 each in tax – a saving of $17499 in tax.

Yes – this is a simplistic view of a basic trust – and yes – there are rules around taxing of minors etc – but it is definitely something to consider when your business starts to grow bigger and bigger.

Call Stellar Accounts today for advice and assistance on the best business structure to suit your needs.

 

Screen Shot 2017-03-15 at 10.49.02 am

Jess
January 11, 2017
0
images-2

images-2Current Home Town: Newcastle, NSW
Family Profile: Husband and wife. Family planning has been delayed due to ovarian cancer
Your Occupation: Transplant CNC

What book or TV show are you currently watching/reading? Southern Ruby by Belinda Alexander.

Where has your family’s medical journey taken you? Armidale, NSW; Tamworth, NSW; Taree, NSW; Sydney, NSW; Newcastle, NSW; Maitland, NSW; Melbourne, VIC;

What did you find or have you found most difficult about the rigors of medical training? Frequent location changes.

How has being the spouse of a medical student, junior doctor, or consultant affected your career? I am very lucky that this has not been much of an issue so far. Next year I will have to give up my job and take any nursing job I can in the town of my husbands contract. The location is yet to be determined as he is interviewing at the moment. At the end of the day I choose my family over my job.

What tip or advice would you give to other medical spouses? Support each other and keep communicating.

What goals do you have for your family in the upcoming year? Continued happiness and meeting new people in our new mystery location.

What is your favourite thing about being an Australian medical spouse? That I get to spend my life with the man I love.