In the world of investing, there’s a perennial debate between “time in the market” and “timing the market.”   While the latter involves attempting to buy and sell assets based on predictions of market movements, the former advocates for a more patient approach – purchasing assets and staying invested for the long haul. Studies and historical data have typically shown that the benefits of long-term investing often outweigh the potential gains from short-term trading. Let’s delve into why ‘time in the market’ can be a desirable strategy.  One of the most compelling arguments for l ..read more

In the fast-paced world of investing, it’s essential to have reliable sources of financial guidance. But what happens when these sources aren’t as trustworthy as they seem? Enter the world of finfluencers – social media influencers who offer financial advice. Sure, they might drive round in a Ferrari and appear to live in a mansion in Miami, but just take and second before you dive into their enticing promises, let’s explore why it’s crucial to exercise caution and, in many cases, avoid finfluencers altogether.  What is Social Media Influenced Investing?  Social media influenced inv ..read more

2023 was a remarkable year for DPM in terms of community engagement and charitable initiatives and causes. We pride ourselves on supporting causes that mean the most to our people and our clients and making a difference where we can. Here’s how our year went… Happy Boxes Project DPM started 2023 with a big office move to a brand new location, but this left us with a whole bunch of cardboard boxes. We knew we had to find a use for them.  We used this opportunity to collect toiletries and other essentials for the Happy Boxes Project, which supports Indigenous women in remote com ..read more

Are you sick of spending everything you earn or looking to save for a new car, a wedding or your first home?  With 2023 done and dusted, now is a great time to commit to your new year’s resolution of establishing a financial plan and building your wealth in the new year and beyond.   Regardless of your goals for 2024, you are much more likely to achieve them if you have a plan. Here are some of the age-old ways to achieve your money goals for 2024.  Set yourself a target  If you want to get serious about achieving your money goals in 2024, you need to set yourself a ta ..read more

Medicine-themed podcasts are becoming an increasingly popular resource for busy medical students. They provide a convenient and accessible channel to broaden your medical knowledge and exposure, consolidate your study and help put all the clinical theory into practical context. Learning from the personal experiences and issues faced by current doctors is a great way to prepare yourself for your future medical career and the challenging transition from medical school to doctor-in-training. To give yourself a head start in 2024, here is our selection of the 24 best medical podcasts for medical s ..read more

Personal insurance for doctors is about protecting your ability to generate income for the future for you and your family. There are different ways to apply for insurance policies in Australia, whether it’s through online comparison sites, directly through insurers and superannuation funds or engaging the services of a professional, such as one of our expert DPM insurance team to assist you with the process.   The Australian insurance industry, the insurers within it and the policies offered by these insurers can vary significantly from one to another, and navigating these differenc ..read more

Since early 2023 there have been many updates regarding payroll tax rulings as well as the introduction of amnesties and other measures that aim to clarify payroll issues in the healthcare sector.  There has been a certain degree of uncertainty and debate surrounding arrangements between healthcare professionals and medical centres and recent court decisions have only increased this uncertainty. In this podcast, tax accountant Vladimir Khokhlov addresses these topics to give you the information you need. Vladimir specialises in compliance and taxation issues in private practice, including ..read more

Ever wondered how a specialised medical financial planner could help you in your journey as a medical professional? Associate Wealth Consultant Dorje Gurung goes into detail on the benefits and realities of medical financial planning and how it could help you. Dorje will cover the basics of: What is a medical financial planner and how can they help you? Who would benefit from a medical financial planner?  How personalised financial advice tailored for you can benefit you.  The benefits to your life when outsourcing financial planning. DPM hopes you enjoy this podcast but ple ..read more

The ins and outs of service trusts Choosing an appropriate business structure for your private medical practice is a crucial decision that can have significant implications for your tax, liability and asset protection. One such business structure available for private medical practitioners in Australia is the Medical services trust, also known as the service entity. When you set up a service trust, you are effectively separating the medical and administrative aspects of the business. The medical services are performed by each owner acting as a sole practitioner conducting their independent me ..read more

In the healthcare industry, arrangements between healthcare professionals and medical centres have been a source of ongoing uncertainty and debate. Recent court decisions have further compounded this uncertainty, prompting the industry to eagerly await guidance from Revenue Offices on the application of ‘relevant contract’ provisions under Payroll Tax laws. Since early 2023, several developments have occurred in different regions of Australia. These developments include the release of payroll tax revenue rulings and the introduction of amnesties and other measures aimed at clarifying and addre ..read more