Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors 

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In this episode, join me, Dr Bi Mian and Munzurul Khan, Chairman at KHI Partners, as we share important tax fundamentals that every doctor needs to know to optimise their tax position and maximise their earnings.

We talk about why Australia's self-assessment tax system creates unique opportunities and responsibilities, how the widely misunderstood marginal tax rate system actually works in your favour, and the strategic advantage of superannuation's concessional 15% tax rate.

We also discuss the clever ways to leverage capital gains tax discounts for wealth building, how franking credits can boost investment returns, and why international doctors with overseas assets must be extra careful with their tax planning.

If you want to make smart financial decisions that could save you thousands in taxes as a medical professional in Australia, then make sure to listen to this episode!

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TIME STAMPS:

00:00 - Intro
01:47 - Tax Obligations / How an Accountant Thinks About Taxes
04:58 - Deep Dive Into Aus Tax System
06:26 - Income Tax Tiers
09:14 - Superannuation Tax / Concessional Contribution
13:28 - How Are Things Taxed Within a Superfund?
14:47 - Superfund Tax
17:18 - Capital Gains Tax
23:25 - Dividends / Franking Credit
29:35 - International Association / Deemed Capital Gain
31:39 - GST
34:40 - Conclusion

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SHOW NOTES LINKS

https://ifdgroup.com.au/ 

https://doctorbi.com.au/
https://au.linkedin.com/in/mian-bi

https://khipartners.com.au/
https://au.linkedin.com/in/munzurul-khan-7ba6a318 

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LISTEN TO THE PODCAST

Spotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN
Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608
Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast 

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FIND US HERE

Website: https://ifdgroup.com.au/
Facebook Group: https://www.facebook.com/groups/investingfordoctors
Facebook Page: https://www.facebook.com/investingfordoctors 

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DISCLAIMER

The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.