Vehicle tax deductions for psychologists, including log book and cents per km method

In this article from the ATO Emma Rosenzweig explains that Payday Super is about paying super on payday. It doesn't matter whether that's weekly, fortnightly or monthly, you will need to pay super at the same time as salary and wages.

One of the most common questions I hear, from both contractor psychologists and practice owners, is: “What’s a fair percentage split?” To be honest,  it depends. There’s no one-size-fits-all split because a fair arrangement needs to work for both the psychologist and the practice. The right split reflects your career stage and independence as a psychologist, and the real costs, risk, and support the practice provides behind the scenes. This is what I commonly see across th

Don’t wait til the End of Financial Year to talk to your accountant. By then, many of the tax-saving opportunities are gone.  Here are the key questions we recommend asking your accountant now to help you plan ahead and keep more of what you earn.

If you run your own psychology practice, it’s important to think ahead about what would happen to your business and your clients if you were suddenly unable to work due to illness, incapacity, or death.

Superannuation Will Be Paid on Government PPL From July 2026 , super contributions will be made on government-funded parental leave...

Spring is the perfect time to reset and refresh. If you're a psychologist in private practice, a tidy-up now can set you up for a smoother, more profitable end to the year.

HIRING YOUR FIRST TEAM MEMBER?  Here's what to consider Taking the leap from solo practice to bringing on your first employee is a big...

Investing in Yourself - Tax Deductions for Self Education for Psychologists As a psychologist, staying up to date with the latest...

1. Create a Separate Bank Account for Tax Money Setting up a dedicated bank account for your tax savings can help you keep track of how...

Here are three really good reasons to make sure your business and personal money is kept separate. Tax Compliance Separating business and...

Setting goals for your psychology business is key to ensuring growth, stability, and long-term success. Here’s a step-by-step guide to...

The first thing a potential client will do is to google you, and if you have a website and a LinkedIn profile you’ll be in total control...

Bookkeeping is  an essential part of running a successful business. It’s more than just keeping the score, it’s about having access to...

Providing timely and effective mental health services is crucial for the well-being of clients. However, due to the high demand for...

A Business Activity Statement (BAS) is a form that businesses in Australia are required to submit to the Australian Taxation Office (ATO)...

Professional Indemnity Insurance (PII) protects you and your business against claims for alleged negligence or breach of duty arising...

Making the decision to change accountants can be a significant step for a business. But rest assured, it's a common practice and a...

When running a service-based business like a psychology practice, managing risk is crucial to protect yourself and your clients. Here are...

As a business owner, you already have a lot on your plate, juggling different roles within your company. One important role that cannot...