The Money Doctors

With changes to marginal tax rate thresholds and rates, there may be increased benefits in maximising tax-deductible expenses and strategies before the end of the financial year. The Bongiorno Group’s Director Sarah Thorburn and Financial Advisor Jessica Weaver discuss a range of super-related strategies, including assessing available caps and potential tax implications, such as Division 293 tax for high earners.

Contributing to a spouse's super can be beneficial, they say, especially if one spouse has maxed out their contributions cap. Individuals earning under a certain threshold may be eligible for government co-contributions to their super, providing an opportunity to boost super savings with additional funds from the government. 

 

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 Australian Dental Association Victorian Branch. 

For more information, please call 03 9863 3111 or visit 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 for privacy information.

Since they were first introduced, the federal government’s HECS and HELP schemes have assisted many thousands of university students access quality education by deferring their fees until they starting earning a wage. What was once considered a favourable loan due to low interest rates, has now left many with a burden because of increased indexation based on inflation rates.

In this episode, Vanessa Smith and Nick Fennessy, Directors at the Bongiorno Group, look into the implications of HECS on loan applications and serviceability calculations, and shed light on its impact on housing and investment loans. They explore strategic approaches to managing HECS debt, including prepaying before the annual indexation kicks in.

 

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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

How does Victoria compare with the rest of the country’s property market? And what should both sellers and buyers know when it comes to their own investment plan? Those are some of the questions Nick Fennessy, Director at the Bongiorno Group, puts to Julian Muldoon, Director at 1Group Property Advisory.

Julian gives his take on a range of issues, including: the regional and coastal markets, supply and construction dynamics, the impact of migration, and stamp duty versus land tax.]

1Group Property Advisory 
https://www.1group.com.au/

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 Australian Dental Association Victorian Branch. 

For more information, please call 03 9863 3111 or visit 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 for privacy information.

The late Tony Bongiorno was a pioneer in promoting gender equity in the workforce since the early 1970s. In memory of Tony’s commitment to education and equality, the Bongiorno Group has established a new grant to support female trainees and surgeons. The $10,000 grant is provided to women who are Royal Australasian College of Surgeons (RACS) Victorian and Tasmanian surgical trainees and surgeons.

The Bongiorno Group’s Anneliese Shortt, Director, Marketing & Communications and Nick Fennessy, Director, discuss the grant, who’s eligible and how to apply.

MORE INFORMATION

Bongiorno Group Women in Surgey Grant 
Apply 1 April to 31 July 2024
https://bongiorno.com.au/grant/

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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

Losing income due to disability can have significant financial implications, which underlies the importance of having appropriate insurance coverage. Yanish Geerdharry, Head of Risk Advisory Services at the Bongiorno Group, and Rory Jacobs, Senior Business Development Manager at PPS Mutual, discuss both temporary and permanent disability insurance.

They examine the different ownership structures and the consideration of specific duties and qualifications when it comes to an insurance policy.

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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

Show up on time, do what you say you're going to do, finish what you start, and use good manners to improve referability. They are some of the lessons from the late Tony Bongiorno that the Bongiorno Groups Directors, Ricky Caldow and Mitch McKeown, delve into in this third instalment of Tony’s Teachings.\

Adopting an infinite business mindset, which prioritises long-term survival and superior service, is essential for business success.

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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

What qualities do you look for in an adviser? Well, the late Tony Bongiorno had some ideas, which are explained by the Bongiorno Group’s Directors, Mitch McKeown and Ricky Caldow. They include the importance of like, trust, and respect in building a mutual relationship. They introduce the concept of Kaizen, the Japanese art of continual improvement, as a benchmark for assessing advisors. And they highlight the value of finding opportunities for improvement and the need to compete on quality rather than price.

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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

This is the first of a series of podcast episodes which pay tribute the late Tony Bongiorno and the valuable lessons he shared while he was at the helm of the Bongiorno Group. Ricky Caldow and Mitch McKeown, both Directors at the Bongiorno Group, walk us through three of Tony’s Teachings. They include avoiding the following: buying an expensive car; buying a property off the plan; and buying a high-rise apartment.

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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

The “dreaded” Division 293 is an additional tax based on total income and adjusted taxable income, and which applies to both personal and employer contributions to superannuation.

The tax is calculated after the tax return is lodged and can be paid out of pocket or from the super fund. 

The Bongiorno Group’s Senior Tax Manager Chantelle Turner and Ricky Caldow, Director, discuss how Div 293 is not indexed and is aimed at equalizing tax rates for high-income earners. It is important to seek professional advice on super contributions and repayment options.

You’ve been listening to The Money Doctors, 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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.

There’s no way around it – your credit score is used by a lender to determine your ability to pay back a loan. How do you find your credit score, what does it mean – is it good or bad – and how do you improve it? 

For answers, we hear from the Bongiorno Group’s Senior Financial Consultant Mark Bremner and Director Ricky Caldow. They caution against quick fixes for bad credit ratings.

To find you own credit score, go to:
https://www.creditsmart.org.au/ 

You’ve been listening to The Money Doctors, 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 Australian Dental Association Victorian Branch.

For more information, please call 03 9863 3111 or visit 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 for privacy information.