You need to consider a number of fundamental matters before purchasing a professional practice – we discussed these in our “Basic Fundamentals” article (published in NSW Dentist, April 2004). Before taking the plunge to buy into or sell a dental practice, there are many additional issues that you should think about, which are discussed in […]
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Buying and selling dental practices
Credit reporting regime under the Privacy Act has a new bite
As of 12 March 2014, significant changes to the credit reporting regime under the Privacy Act 1998 (Cth) will impact on how dentists handle patients’ credit related information [1]. Are dentists credit providers? Do you provide credit in full or in part for at least seven days? Do you offer structured payment plans for your […]
Spotlight on Fitness: an overview of Australian Consumer Law
On 1 January 2011 the Australian Consumer Law (ACL) introduced some significant changes to the obligations on suppliers of services and goods. This update sets out a few practical tips on how fitness businesses can limit complaints and stay on the right side of the consumer law. Under the ACL, you guarantee that services supplied […]
Consider these fundamentals before purchasing a professional practice
If you are thinking about purchasing a professional services practice, whether it be a dentistry practice or other, there are a number of important matters to consider. In advising prospective purchasers, we sometimes see prospective purchasers get carried away with the idea of owning their own practice but do not properly consider some fundamental business […]
Government rolls out Living Longer, Living Better aged care package
The federal government’s Living Longer, Living Better package commenced this year on 1 July 2013. The ten year reform program is targeted at improving control and flexibility of access to aged care services for older Australians. The Government has so far dedicated $3.7 billion over five years towards the program. Some highlights of the Living […]
How healthy is your relationship with your business partners?
The relationship between most business partners does not last forever and it is rare to expect it to. Each year we deal with many disputes between business partners, whether they are co-owners of a business set up under a corporate structure or a traditional partnership. Just because partners decide to part ways, it does not […]