We provide services to medical professionals, specialists as well as GP’s. We cater to Dentists, Surgeons, General Practitioners, Physiotherapists, Psychologists, Medical Clinics and other medical professionals.
As a medical practitioner, you may encounter some of the below taxes during your lifetime:
- Income Tax
- GST
- Fringe Benefits Tax
- CGT
- Property Taxes
- SMSF Tax
- Negative Gearing & Tax
- Company Tax
- Trust Tax Returns
- Sole Trader tax
We understand from experience in dealing with our current doctor clients that as medical professionals, you are always short on time. In looking after your patients and clinic commitments you spend most of your working time and this is also quite a stressful role. On top of this we also understand that receiving letters from the income tax office could add to the stress you experience in your working life. We aim to take the stress out of your tax affairs by dealing with your tax matters directly with the ATO. If you run a medical clinic and you need our firm to provide accounting services to the clinics as well as separate accountants for doctors working within looking after their tax affairs, we have the capacity to do so.
Structures we can setup as a part of accounting services for doctors:
- Sole Trader ABN’s.
- Company for medical professionals.
- Trusts for medical professionals.
- Partnerships between medical professionals.
- Joint Ventures for medical professionals.
- Service Trust arrangements.
As specialist accountants for doctors, we can also advise about asset protection strategies, negative gearing strategies as well as CGT concessions afforded to doctors as a part of your short and long term business strategies.
As a part of accounting for doctors & accounting for medical professionals, record keeping is quite important in case you do get audited by the tax office. As specialist accountants for doctors and given your business structure, turnover and employees we shall be able to advise about the most suitable cloud accounting software for your business and also advise how to keep, maintain and retain records for accounting for doctors & medical professionals.
If you move over to us from another accountant we would like to first know what is that you expect from us. This will help us form a service blue print with regards to providing the service you deserve, expect and are looking for.
We understand that as a part of holistic service offering and as add on services from being primarily accountants for doctors you shall also be requiring the below advice and assistance and we are happy to be in that spot:
- Commercial property purchase advice.
- Equipment purchase finance & advice.
- Commercial property finance advice.
- Property ownership advice.
- Business Structure advice.
- Investment property purchase advice.
- Residential and Investment property mortgage services and advice.
- Financing advice.
- Asset Protection advice
As an add on service to being specialist accountants for doctors, we are also able to provide financing and property purchase advice to doctors and medical professionals.
As a part of our complete service offering we can provide the below services as specialist accountants for doctors:
- Accounting for doctors in the capacity of contractors working for a clinic.
- Accounting for medical clinics with you as the business owner.
- Bookkeeping & Business Activity Statements.
- Tax Returns
- SMSF Tax Returns, Financials Preparation & Audits if you do have a self managed super fund setup.
- Property Purchase advice.
- Negative gearing.
- Mortgage & Finance services.
How to run a successful Medical Practice? Do you need startup advice? We pride ourselves on being specialist accountants for doctors and we can guide you through the process.
With regards to the running a clinic it is important to know and understand that at the end of the day in addition to your personal skills, experience, expertise and knowledge as a doctor and medical professional, you would need marketing, employee management and clinic management to succeed. We can coach, guide and help you navigate through this process to eventually be able to run a successful business.
Why consider us as your specialist accountants for doctors for the accounting function of your medical practice?
We like to see ourselves in the space of space of being specialist accountants for doctors and we currently look after many compliance and accounting for doctors assignments. We advise and support doctors with their accounting and tax compliance and more importantly understand and manage the compliance landscape for doctors. If you are starting out, there are certain aspects where you may need immediate support. You would need to register for GST and lodge Business Activity Statements on a quarterly basis. If you hire an employee then you might need support with Single Touch Payroll obligations and may also need assistance with ensuring superannuation and payroll obligations are met on time. Before you undertake all of this, an important decision you shall be making is to choose a structure of operation, which will determine how you are taxed. If you are setting up a practice you may need finance too and we can assist you with this aspect too in addition to helping you look for a property for your medical practice.
Please visit our startup advice page for more information generic to all startups by clicking here.
We see many business owners start and run a business. We have been there with them from the time they setup their business. We have seen their businesses grow and we have seen them prosper and we have seen them sell their businesses too sometimes to receive a huge profit while on other times when life gets in the way. This is the life cycle of a business and the life cycle of your business will depend on how your personal circumstances change and vice-versa during your business life. Put simply, your business is your baby or one of your babies and will keep needing your attention throughout yours and your business’s life cycle.
If you are a medical professional and need assistance with accounting and tax for medical practice or as a doctor kindly call us on 03-86091889, to have a no obligation discussion in regards to your circumstances.