Recent cases in NSW and VIC have renewed the focus on payroll tax and health practitioner payments. At GrowthMD, we are advising health practices to not only focus on the future impacts of these case decisions but also review the practice's current risk profile toward payroll tax. Here are some of our tips on getting the basics right.

Our video content for the medical industry had been watched more than 200,000 times in 2019. We love making videos for you; however, it doesn’t always go to plan as you see in this collation. See you in 2020.

One of our core values at GrowthMD is that we have relevance, purpose and meaning with our clients. On behalf of the team at GrowthMD, I wish you all a safe and peaceful festive period. To our valued clients, thank you for being part of this giving story.

It was great to present to Australian General Practice Alliance members from all over Australia on the hot topic of payroll tax risk areas for general practice. Great engagement and questions from the attendees. My co-host representing the legal view was Rod Felmingham. AGPA members can view the full webinar online.

One of our core values at GrowthMD is that we have relevance, purpose and meaning beyond our immediate community. On behalf of the team at GrowthMD, I wish you all a safe and peaceful festive period. We have shared our 2019 giving story made possible by you below.

1. Growth is easy - growing sustainably and staying authentic is the constant challenge. 2. The human side of life will often affect a client's financial success more than always adhering to rigid financial KPIs - a marriage ending, illness or kids with evolving needs aren't dealt with in isolation. 3. I have more strength and resilience than I ever thought. I also have a few more weaknesses than I thought (a work in progress). 4. Running a small business has the potential to consume all - I am learning to be disciplined in where I direct my energy. 5. Tunnel vision is real - I now constantly test myself on what the big picture looks like, for myself and my clients. 6. Personal satisfaction and working with people I genuinely enjoy means more to me than making money - the concept that I am sure drives most early small business owners to keep going. 7. Winning awards is amazing for me, however, my clients don't care so much. Being responsive and giving my clients what they need quickly is amazing for them. 8. The domino effect is real - saying yes to small challenges outside of my comfort zone has led me to places and people I never saw coming.

My top four tips for reviewing your accountant.

Are you the passionate accountant we are looking forward? Email kelly@growth-md.com

Navigating taxation in the early years of a new business is confusing. Poor planning can lead to the tax payment ‘double whammy’ – resulting in ATO debt and a cash flow crunch.

Healthcare Practice Managers can be the hero of your high performing medical practice. However, on average healthcare PMs are spending 17% of their time on financial processes - which is equates to around 330 hours per year! PMs I work with are in some cases spending far more than 17% of their time on financial processes - bookkeeping, billing reconciliations, BAS and calculating practitioner payments. One of the things I love about my work at GrowthMD is when I collaborate with PMs in streamlining financial processes and creating more time. After all, most PMs I know want to focus on happy patients, a cohesive team and a high standard healthcare business - not on bookwork. Photo taken from the 2019 Salary Survey presented at the AAPM conference by Colleen Sullivan OAM, in partnership with UNE.