At tax time, your accountant will ask you if you’ve donated anything to a charity. Why? Because it could be claimed as a tax deduction. But not all donations are deductible. The Bongiorno Group’s Tax Manager Chantelle Turner and Director Nick Fennessy explain that to claim a deduction, the charity must be a Deductible Gift Recipient (DGR). You can verify DGR status via the ABR website using the charity’s name or ABN.

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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.

At tax time, your accountant will ask you if you’ve donated anything to a charity. Why? Because it could be claimed as a tax deduction. But not all donations are deductible. The Bongiorno Group’s Tax Manager Chantelle Turner and Director Nick Fennessy explain that to claim a deduction, the charity must be a Deductible Gift Recipient (DGR). You can verify DGR status via the ABR website using the charity’s name or ABN.
MORE INFORMATION
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 <a href="https://bongiorno.com.au/">https://bongiorno.com.au/</a>
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.

The Money Doctors offers conversations on financial wealth and money matters for Australian medical and dental professionals.

This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group.

The general advice in this series 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.

The Money Doctors offers conversations on financial wealth and money matters for Australian medical and dental professionals.
This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group.
The general advice in this series 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.

The Money Doctors

The Money Doctors offers conversations on financial wealth and money matters for Australian medical and dental professionals. 

This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group. 

The general advice in this series 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.

The Money Doctors offers conversations on financial wealth and money matters for Australian medical and dental professionals. 
This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group. 
The general advice in this series 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.

What kinds of donations can you claim in your tax return?

Understanding insurance claims is crucial, as many medical professionals are unaware of their eligibility for benefits like income protection, trauma cover, and total and permanent disablement (TPD) insurance. That’s according to the Bongiorno Group’s Insurance Client Relationship Manager Helen Lloyd and Risk Adviser Tom Will. Professional guidance, they say, ensures claims are handled efficiently and payouts are managed effectively, offering financial relief and peace of mind during challenging times.

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.

Understanding insurance claims is crucial, as many medical professionals are unaware of their eligibility for benefits like income protection, trauma cover, and total and permanent disablement (TPD) insurance. That’s according to the Bongiorno Group’s Insurance Client Relationship Manager Helen Lloyd and Risk Adviser Tom Will. Professional guidance, they say, ensures claims are handled efficiently and payouts are managed effectively, offering financial relief and peace of mind during challenging times.
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 <a href="https://bongiorno.com.au/">https://bongiorno.com.au/</a> 
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.

Navigating Insurance Claims: From Eligibility to Payouts

Mitch McKeown and Ricky Caldow continue their discussion on trusts, focusing specifically on investment trusts and property trusts. Investment trusts are commonly used for asset ownership, offering benefits like tax efficiency and discretion in distributing profits. They can hold various assets such as shares, property, and ETFs, and allow distributions to be allocated to beneficiaries in a tax-effective manner.

Property trusts, often used by high-net-worth individuals, provide additional protection and tax planning opportunities. However, they are not suitable for everyone, especially when negative gearing applies. Despite their advantages, trusts are costly to set up and maintain, making them best suited for specific situations.

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.

Mitch McKeown and Ricky Caldow continue their discussion on trusts, focusing specifically on investment trusts and property trusts. Investment trusts are commonly used for asset ownership, offering benefits like tax efficiency and discretion in distributing profits. They can hold various assets such as shares, property, and ETFs, and allow distributions to be allocated to beneficiaries in a tax-effective manner.
Property trusts, often used by high-net-worth individuals, provide additional protection and tax planning opportunities. However, they are not suitable for everyone, especially when negative gearing applies. Despite their advantages, trusts are costly to set up and maintain, making them best suited for specific situations.
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 <a href="https://bongiorno.com.au/">https://bongiorno.com.au/</a> 
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.

The Case for Trusts Part 2: Investment Trusts & Property Trusts

Trusts can offer tax benefits by distributing income across multiple beneficiaries, potentially lowering the overall tax liability, especially when assets are split among family members.

While there are multiple types of trusts, each has unique features and applications.  Ricky Caldow and Mitch McKeown, Directors at the Bongiorno Group, explain how trusts are valuable for long-term estate planning, helping to pass on wealth and assets to future generations in a structured manner while avoiding potential probate delays.

In this first of two-part episode, they focus on business trusts, which can hold the assets and generate income for a business, such as a GP practice, by charging service or management fees.

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.

Trusts can offer tax benefits by distributing income across multiple beneficiaries, potentially lowering the overall tax liability, especially when assets are split among family members.
While there are multiple types of trusts, each has unique features and applications.  Ricky Caldow and Mitch McKeown, Directors at the Bongiorno Group, explain how trusts are valuable for long-term estate planning, helping to pass on wealth and assets to future generations in a structured manner while avoiding potential probate delays.
In this first of two-part episode, they focus on business trusts, which can hold the assets and generate income for a business, such as a GP practice, by charging service or management fees.
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 <a href="https://bongiorno.com.au/">https://bongiorno.com.au/</a> 
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.

What kinds of donations can you claim in your tax return?

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