Specialised, award-winning tax & accounting advice for doctors, dentists, surgeons. Tax strategies, property investment, SMSF & wealth protection!
Comprehensive financial solutions tailored specifically for medical practices, GP clinics, dental practices, and specialist rooms across Australia
Strategic tax planning to minimize your tax legally. We stay updated with all ATO rulings specific to medical professionals.
Self-Managed Super Fund solutions tailored for high-income medical professionals.
Build and protect your wealth with expert financial planning tailored to medical professionals.
Strategic property investment advice to grow your wealth through real estate.
Expert guidance on establishing and structuring your medical or dental practice.
Specialized accounting services for dentists and dental practice owners.
We're not just accountants – we're financial partners dedicated to your medical practice success
20+ years exclusively serving doctors, dentists & medical practices
Recognised industry leaders in medical accounting & tax optimization
We guarantee on-time delivery – because your time is precious
Direct access to your dedicated accounting team – no call centres
Our specialized tax strategies for medical practices typically save significantly more than general accountants. The specialized knowledge of a medical practice accountant pays for itself many times over.
Book Your Consultation"Doctor's Tax transformed our practice finances. Their expertise in tax planning saved us over $40,000 last year. Highly recommend for any medical practice!"
Dr. R. Thompson
GP Practice Owner, Sydney
"When we set up our dental practice, Doctor's Tax guided us through every step. Their practice setup expertise was invaluable. Couldn't recommend more highly!"
Dr. J. Wilson
Dental Practice Owner, Melbourne
"The SMSF setup for our practice owners was seamless. They helped us structure our superannuation optimally. Professional, knowledgeable, always responsive."
Dr. S. Kumar
Specialist, Brisbane
Choosing the right accountant for your medical practice is one of the most important financial decisions you'll make. Here's our comprehensive guide on what to look for.
Look for an accountant who exclusively or primarily serves medical practices. General accountants may miss specific deductions, tax concessions, and planning strategies available to GP clinics, dental practices, and specialist rooms.
Your accountant should have proven experience helping medical practices set up. This includes entity structure selection, trust arrangements, and registration with relevant bodies. Ask for specific examples of practices they've helped establish.
Your financial needs span tax, SMSF, wealth management, property, and practice setup. Choose an accountant who offers comprehensive services under one roof, ensuring seamless coordination and holistic advice.
Your accountant should understand the unique economics of medical practices, including patient billing models, staff costs, equipment depreciation, and the difference between bulk-billing and private billing economics.
Industry awards demonstrate excellence and commitment. Doctor's Tax has received multiple awards recognizing our expertise in serving medical practices and healthcare professionals.
Quality medical practice accounting delivers far more value than it costs. Our clients typically save $10,000-$50,000+ annually – far exceeding our fees. Ask for a clear outline of costs and expected savings.
More examples of how we've helped medical practice owners across Australia.
Situation: Dr. Robert operated a specialist practice across two locations with 3 associate specialists. Managing multiple income streams and complex partner arrangements was challenging.
Solution: We restructured using a company and trust model, established clear profit distribution arrangements between the principal and associates, and implemented SMSF strategies for all practitioners.
Result: Tax savings of $75,000 over three years plus significantly improved practice efficiency.
Situation: Two young doctors in their early 30s wanted to purchase their first medical practice. They were unsure about financing, SMSF options, and optimal structuring.
Solution: We helped them purchase the practice through their SMSFs using limited recourse borrowing arrangements, established optimal entity structures, and created wealth-building strategies.
Result: Within 8 years, their combined SMSF balances grew to $420,000 while receiving significant tax benefits.
Running a medical practice is both a professional calling and a business enterprise. Understanding the financial mechanics of your practice is essential for long-term success, whether you're a solo practitioner or part of a larger medical centre.
Medical practices have unique financial characteristics that require specialized accounting attention. These include revenue from multiple sources (consultations, procedures, equipment fees), complex expense categories (staff, rent, equipment, insurance), and specific tax deductions available only to medical practitioners.
A specialist medical practice accountant understands these nuances and can help you optimize your practice's financial performance while ensuring compliance with all relevant regulations and tax requirements.
When establishing or operating a medical practice, several financial factors require careful attention. Entity structure affects your tax position, asset protection, and future sale options. The choice between operating as a sole trader, partnership, company, or trust has significant implications.
Practice valuation is another critical consideration. Whether you're buying, selling, or bringing in new partners, understanding how practices are valued helps you make informed decisions. Equipment depreciation, patient lists, and goodwill all factor into valuations.
Succession planning ensures your practice continues smoothly when you retire or move on. A well-structured succession plan protects your legacy and provides for a comfortable transition.
Optimal entity structure for tax efficiency
Trust arrangements for asset protection
SMSF strategy for retirement planning
Quarterly tax planning and cash flow
Equipment depreciation optimization
Practice valuation and succession planning
Staff remuneration and entitlements
Property ownership strategy
See how we've helped medical practice owners across Australia optimize their finances.
Situation: Dr. Sarah and her partners were establishing a new GP medical centre with 4 doctors. They needed help with entity structure, tax planning, and practice setup.
Solution: We established an optimal structure using a company and trust arrangement, set up the SMSF for each partner, and created a comprehensive tax plan for the new practice.
Result: Saved $45,000 in annual tax through optimal structuring plus significant setup cost savings.
Situation: Dr. Michael purchased an existing dental practice. The previous owner and his general accountant hadn't optimized the purchase structure.
Solution: We restructured the entity setup, maximized plant and equipment deductions, established SMSFs for strategic wealth accumulation, and implemented a tax-effective salary structure.
Result: Combined tax savings of $68,000 in the first two years plus significantly accelerated superannuation growth.
Situation: A GP practice with 3 doctors was using a general accountant who wasn't maximizing their tax position or understanding the specific dynamics of multi-doctor practices.
Solution: We reviewed and restructured their entity setup, optimized the distribution of profits among the partners, and implemented quarterly tax planning.
Result: $32,000 annual tax reduction plus improved cash flow and predictable tax obligations.
Situation: Dr. Lisa owned the premises from which her medical practice operated, plus two investment properties. The property arrangements weren't optimized.
Solution: We restructured the property ownership, maximized depreciation claims, and implemented strategies to offset rental losses against practice income.
Result: $52,000 in additional tax benefits over three years through improved deductions and structuring.
Everything you need to know about managing your medical practice finances effectively.
Medical practice accounting differs significantly from general business accounting due to the unique nature of healthcare businesses. Medical practices have specific revenue streams including Medicare rebates, private billing, procedure fees, and sometimes pharmacy or ancillary service income. Each of these has different tax treatment and financial planning implications.
Additionally, medical practices incur specific expenses that qualify for specific deductions. These include medical equipment depreciation, professional indemnity insurance, registration fees, continuing professional development costs, and practice-specific software and equipment. A specialist medical practice accountant understands these nuances and ensures you claim every legitimate deduction.
Effective tax planning for medical practices begins with the right entity structure. Most successful medical practices operate through a company structure, often with a discretionary trust for asset protection and tax optimization. The right structure depends on your specific circumstances including the number of practitioners, income levels, and future plans.
Other key tax strategies include optimizing the timing of equipment purchases to maximize depreciation deductions, implementing salary sacrifice arrangements for eligible employees and principals, utilizing trusts to distribute income to lower-income family members, and planning for major purchases and expenses to align with your tax position.
At Doctor's Tax, we provide year-round tax planning, not just end-of-year tax returns. Regular reviews throughout the year ensure you're always optimizing your tax position and avoiding surprise tax bills.
Self-Managed Super Funds are particularly valuable for medical professionals. As a high-income earner, you can make significant concessional contributions to your SMSF, reducing your taxable income while building retirement wealth. Many medical practice owners also use their SMSF to purchase practice premises or investment properties.
Limited Recourse Borrowing Arrangements (LRBAs) allow SMSFs to borrow money to purchase property, including commercial premises for your practice. This strategy can provide significant tax benefits while building an asset for your retirement.
We can help you establish and manage your SMSF, develop an investment strategy tailored to your goals, and optimize contributions to maximize tax benefits while building retirement wealth.
We provide specialized accounting services to every type of medical practice across Australia.
Single-doctor clinics, multi-doctor practices, bulk-billing centres, and mixed billing medical centres.
General dentistry, specialist dental, orthodontics, and dental surgery practices.
Cardiology, dermatology, orthopaedics, paediatrics, and all medical specialist consulting rooms.
Physiotherapy, psychology, chiropractic, podiatry, and multidisciplinary health practices.
Urgent care centres, day hospitals, and comprehensive medical facilities with multiple services.
Cosmetic medicine, dermatology, skin cancer clinics, and aesthetic treatment centres.
Common questions from medical practice owners about our services
Join 4,800+ healthcare professionals who trust Doctor's Tax. Book your consultation today!
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