INDUSTRIES
Medical Accounting Services Melbourne
Medical Accountants working Specifically For Doctors & Medical Professionals
OUR APPROACH
Specialised Accountants For Medical Professionals
& Medical Practices in Melbourne.
Our services extend beyond general practice, encompassing a diverse range of medical consultancy fields
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Medical Accountants for Healthy
Finances and Patients
We have an extensive knowledge of the medical industry and its demands. This enables us to create customised solutions to help medical practices and practitioners to reach their full business potential and succeed.
Our valued clients encompass a range of healthcare providers such as general practitioners, dentists, optometrists, and surgeons. We understand the challenges involved in managing a medical facility, including regulatory compliance and public health concerns. Our medical accountants provide guidance on the optimal taxation framework, in addition to advising many doctors and dentists on the use of service trusts. Let us assist you with GST, BAS, PAYG, and superannuation obligations to enable you to focus on patient care.
As medical professionals, we understand that your financial goals involve maximising profits and building wealth. Many of our clients have incorporated an SMSF into their tax structure. These include GPs, specialists, physiotherapists and dentists.
Starting a business requires solid foundations, just like building a house. This includes choosing the right taxation structure, accounting software, insurance, and marketing. Your business structure is critical, with options like sole trader, partnership, company, and trust.
Choosing the Right Tax Structure
for Your Medical Practise
Choosing the right tax structure for your business is crucial. Our experts advise starting with the end goal in mind as Australian tax laws are complex, and changing your business structure can trigger a costly capital gains tax event. We consider important issues when providing advice on business structures.
Reducing Income Tax
Minimisation of Income Tax
Optimising Asset Protection
Maximise Asset Protection
Bringing on New Partners or Investors
Allow for the admission of New Business Partners or Investors
Staying Legally Compliant in Your Industry
Comply with all Legal Requirements in your Industry
Maximising Capital Gains Tax Discounts
Consider Future entitlement to Discount Capital Gains Tax Concessions
Managing High-Risk Industries
Risk Profile of Your Industry and trades are high
Balancing Business Structure
As a consequence, we often find the business structure is a compromise based on the relative importance of each of these issues.
Why doctors should use a Medical Accountant
A medical accountant is a financial professional who specialises in providing accounting services to medical professionals and practices. They help doctors manage their finances, prepare tax returns, provide financial advice, and offer a range of other services. The benefits of using a medical accountant include improved financial management, increased profitability, reduced tax liability, and greater peace of mind.
A medical accountant can help doctors manage their finances by tracking income and expenses, preparing financial statements, creating budgets, and offering financial advice. They can also help doctors increase profitability by identifying areas of waste and inefficiency, developing strategies to improve revenue, and analysing financial data to make informed decisions.
Doctors face a range of financial challenges, including managing cash flow, reducing expenses, minimizing tax liability, and navigating complex financial regulations. A medical accountant can assist in overcoming these challenges by providing financial advice, creating budgets and financial plans, preparing tax returns, and offering ongoing support and guidance.
Tax laws and regulations can be complex and confusing, and failing to comply with them can result in serious consequences for doctors and their practices. A medical accountant can help doctors stay compliant with tax laws and regulations by preparing accurate and timely tax returns, identifying tax-saving strategies, and offering guidance on compliance issues.
When hiring a medical accountant, doctors should look for someone with a strong background in accounting and finance, as well as experience working with medical professionals and practices. They should also look for someone who is knowledgeable about tax laws and regulations, has strong communication and interpersonal skills, and is
MaximiSing Wealth with SMSF
Building Wealth for Medical Professionals with SMSF
SOFTWARE SOLUTIONS
Various ways Technology Solves Top Healthcare Industry Challenges
Our experienced team has the necessary expertise and technical know-how to assist healthcare clients in choosing and deploying software that is tailored to their unique requirements.
We understand that achieving operational stability is crucial for healthcare providers, especially in today’s highly competitive and unpredictable market. Discover how our services can help your healthcare business overcome the challenges of the present and future.
Articles
Healthcare Industry News & Insights
The Benefits of Having a Dedicated Accountant for Your Medical Practice
Let’s talk about your medical practice’s financial health. Have you ever considered a medical accountant’s pivotal role in this scenario? It’s not just about number
Why Every Medical Practice Needs a Dedicated Medical Accountant
In the intricate world of healthcare, medical accountant ranging from general practitioners to specialists, grapple with many financial challenges. A dedicated medical accountant is not
Role of Medical Accountants in the Modern Healthcare Industry
Medical accounting is swiftly assuming a pivotal position within the healthcare sector. As our healthcare system grows in complexity and scale, the significance of an
