The Money Doctors

How to Structure Your Investments PART 1: Individual vs Trust Ownership

The structure used to hold an investment can have a significant long-term impact on tax, flexibility, asset protection and wealth creation outcomes. Two people can invest in exactly the same asset and achieve very different financial results simply because of how those investments were structured from the beginning.  In the first of this two-part series, Ricky Caldow and Mitch McKeown, Directors of the Bongiorno Group, explore two of the most common investment structures: individual ownership and trust structures.  They explain how each structure works, the tax implications involved, when trusts may provide greater flexibility, and why early planning is critical before investment portfolios begin to grow.  The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian & Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association.   For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ [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.  See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

What Doctors Can and Can’t Claim at Tax Time

Tax time is just around the corner – and so it’s worth understanding ahead of time what you can legitimately claim. And, no, it’s not about maximising deductions at all costs. It’s about being able to clearly justify every expense and ensuring it directly relates to earning your income.  The Bongiorno Group’s Director Nick Fennessy and Tax Manager Chantelle Turner unpack the deductions employees and self-employed practitioners commonly misunderstand.  They explain the myriad of rules around car travel, conferences, self-education, home office expenses, uniforms, laptops, donations, super contributions and insurance, while highlighting the areas the ATO is increasingly scrutinising. They also examine the differences between employee and sole trader deductions, including instant asset write-offs, business expenses and service fees. They answer common real-world questions that regularly catch taxpayers out and explain why accurate record keeping has never been more important.  The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian & Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association.   For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ [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.  See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Overseas Fellowships, Tax Residency and ATO Obligations

Planning an overseas fellowship can shape a medical career, but poor tax planning can create expensive surprises. From tax residency and worldwide income to investment properties, private health insurance and double tax agreements, the financial implications of working overseas are often misunderstood.  The Bongiorno Group’s Directors Ricky Caldow and Mitch McKeown unpack the practical realities doctors face before heading abroad for fellowships. They explain why intention matters so much to the ATO, how residency status is assessed, and why assumptions about avoiding Australian tax are often wrong. For medical professionals considering overseas training, this is essential listening before boarding the plane.  The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian & Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association.  For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ [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. See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

The Hidden Risks of Outdated Insurance Cover

Insurance only works when it evolves with your life. From rising incomes and growing debt to children, career changes and mounting premiums, reviewing your cover regularly can mean the difference between being properly protected and paying for insurance that no longer fits your needs.  The Bongiorno Group’s Matt Homewood and Tom Will unpack the key triggers for reviewing income protection, life, trauma and TPD insurance. They explain how changing income, waiting periods, mortgages, school fees and lifestyle shifts should shape your insurance decisions over time.  The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian & Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association.  For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ [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.    See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.

Federal Budget 2026-27: What It Means For You

The Federal Budget could reshape the financial landscape for doctors, business owners and investors for years to come. While none of the major reforms are law yet, the proposed changes to capital gains tax, negative gearing and discretionary trusts have already sparked urgent conversations across the financial sector.  Bongiorno Group directors Nick Fennessy and Mitch McKeown break down the biggest announcements from Treasurer Jim Chalmers’ latest budget and explain what they could mean in practical terms. They unpack the proposed overhaul of discretionary trust taxation, changes to negative gearing for future property purchases, major CGT reforms across all asset classes, and why self-managed super funds may emerge as one of the biggest winners.   They also discuss EV tax concessions, private health insurance rebate reductions, instant asset write-offs, and why investors should avoid panic while the legislation process unfolds.  The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian & Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association.  For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ [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.  See omnystudio.com/listener [https://omnystudio.com/listener] for privacy information.