Nursing and Other Medical Staff
Operating in a niche industry we are fully aware of the issues currently challenging the General Practitioners. Our specialist knowledge and experience enables us to remove the barriers facing General Practitioners and provide a solution which successfully meets all your tax, accountancy and financial planning needs. Once you talk to us, you’ll understand how we deliver, why we are different to our competitors and how we can deliver a superior service for you!
There are countless expenses which the General Practitioners can claim so we provide clients with a simple yet detailed checklist and ongoing advice to ensure that all allowable expenses are claimed; which includes
- Work related travel or motor-vehicle expenses
- Staff Expenses (if any) and their superannuation contribution
- Protective clothing and equipment
- Professional registration fees
- Professional indemnity insurance and work-cover
- AHPRA or other medical professional association membership fees
- Medical equipment
- Insurance for equipment
- Conferences and professional development
- Travel and accommodation expenses related to professional conferences
- Mobile phone, computer and other IT equipment
- Professional journals
- Reference books – professional library; and
- Personal superannuation contributions
Under s 8-1 of the Income Tax Assessment Act 1997 (ITAA), an expense is deductible to the extent that it is:
- incurred in gaining or producing assessable income or
- necessarily incurred in carrying on a business for the purpose of gaining or producing assessable income
AND it satisfies the following tests:
- it is not capital in nature
- it is not private or domestic in nature
- it is not incurred in gaining or producing exempt income, and
- a provision of the ITAA does not prevent it from being deductible
Protection against the increased frequency and cost of tax audits is now essential and as such we offer a service to safeguard General Practitioners from the potential significant costs of any such investigation. While additional tax liabilities are an issue, equally important are the professional fees which could be incurred, should there be a dispute with the tax authorities. We therefore recommend all our clients take advantage of our Tax Audit Insurance, which covers professional fees incurred in handling a tax dispute with ATO.