Medical Professionals

Accounting for Medical Professionals

We provide specialist accounting and tax services for doctors, specialists, dentists, and other medical professionals, based on the ATO guidelines for medical professionals.

Understanding Medical Professional Income

As a medical professional, you must include all income in your tax return, including:

• Salary and wages from hospitals or medical practices
• Private billing income and patient fees
• Allowances (on-call, relocation, professional development)
• Medicare rebates and incentive payments
• Income from locum work or multiple practices
• Telehealth and digital consultation income

Work-Related Deductions for Medical Professionals

The ATO allows deductions for expenses that directly relate to earning your income. Common claims include:

• Professional Registrations: AHPRA registration, medical board fees, specialist college membership
• CPD and Education: Conferences, seminars, courses, and continuing professional development
• Medical Indemnity Insurance: Professional liability and indemnity insurance premiums
• Medical Equipment: Stethoscopes, otoscopes, surgical instruments, and specialised tools
• Work-Related Travel: Travel between hospitals, home visits, and conference travel
• Home Office: If you perform administrative duties from home (telehealth consultations, paperwork)
• Professional Memberships: AMA, RACGP, ADA, and other professional association fees
• Mobile Phone and Internet: Work-related portion of communication costs

Practice Structure Advice

• Sole practitioner vs partnership vs company vs trust structures
• Service entity arrangements for asset protection
• Superannuation strategies for high-income earners
• Tax planning for locum and contract work

ATO Compliance

To claim a deduction, you must have spent the money yourself, it must directly relate to earning your income, and you must have records to prove it. We ensure all claims are ATO-compliant and properly documented.

Source: ATO ??? Medical Professionals