ADVERTORIAL
Supercharged superannuation
Tapping into your superannuation fund could be a smart way to grow your practice right now – but there are a few factors to take into consideration first. Most people think of superannuation as their nest egg for the future. It's something you deposit money into every month, but don’t touch until retirement. That’s generally how it works with a standard, set-and-forget super fund. If you’re a dentist with a self-managed super fund (SMSF), however, there may be many more flexible options open to you. Although an SMSF requires work to set up and manage, having one does give you greater control over your investments. You can also put it to work now, rather than simply waiting until you retire. Here’s how...
TAKING PRACTICE GROWTH TO THE NEXT LEVEL Most dentists know how much goes into building a thriving practice. It takes hard work to engage and nurture a loyal patient base, while broadening the scope of what you offer. Eventually, a successful practice will reach the point where it’s time to expand and grow. That may involve moving to bigger or more upmarket premises so you can see more patients, offer additional services, raise your fees, attract a different clientele or hire more staff. Financing the growth of your practice is a common stumbling block. One strategy you may have heard about to achieve this is borrowing through your SMSF. This may be a tax-effective way to purchase your own clinic or rooms, or invest in your practice.
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EDITION 4 | 2022 WESTERN ARTICULATOR
