APPENDIX 2.2 ACCOUNTING AND TAXATION (ANNUAL)

APPENDIX 2.2 ACCOUNTING AND TAXATION (ANNUAL) 2.2.1 BAS returns As the BAS returns are prepared quarterly and lodged during the financial year, it is not possible for this firm to review the correctness of the underlying financial information as part of the preparation of the quarterly BAS return. This is because we are engaged to […]

2015 New Employee v Contractor Tax Audits!

The day’s of a “Gentlemen’s agreement” (i.e. hand shake agreements not putting agreements into writing) are over….! It is time to finally take control and eat well and sleep well to this recurring problem! We are aware of practices that have been recently hit with payroll and contractor audits. This is a new warning bulletin […]

New Tax Office Warning – your practice could be facing a double risk?!

Breaking news : Watch out doctors ATO takes aim! I raised this news story with the Medical Observer last week and it made the headlines see: http://www.medicalobserver.com.au/news/frypan-to-fire-tax-traps-for-gps and http://www.medicalobserver.com.au/news/watch-out-docs-ato-takes-aim. Unfortunately, if your doctors or practitioners are affected by the recent Federal Tax Office announcement then your practice may be simultaneously exposed to a significant payroll tax […]

Overtime is not a badge of honour: it is a warning sign!- Part One

Overtime is not a badge of honour: It is a warning sign! This is Part One of the article Overtime is not a badge of honour: it is a warning sign! This article was first published by the Medical Republic on 15th June 2021. Overtime and staff burnout is your greatest challenge and opportunity. Three […]

Want a higher “Red Book friendly” pathology rent?: How you go about it matters!

Want a higher “Red Book friendly” pathology rent?: How you go about it matters! This article was first published by the Medical Republic on 20th April 2021. Editor update: 27th June 2021 In the original article below we highlighted the need for an independent valuation by an industry expert with experience in valuing pathology collection […]

Don’t use the “C” Contractor Word! – Part Two

This is Part Two of the article “Don’t use the “C” (Contractors) Word”. I cover practical examples and key court cases that best illustrate check common mistakes many practices make.   This is Part Two of a two-part series. Part Two of this topic covers practical court case examples of what I commonly see practices […]

Don’t use the “C” Contractor Word! – Part One

  This article was first published by the Medical Republic on the 6th of April 2021. When a practice manager, doctor, or doctor owner says “our doctors are contractors” without realising it you may be opening a whole can of worms for your practice. Even your website that states “Our Doctors” could trigger an audit! […]

ATO raises the bar on income splitting and related entities

This article has been published in the Medical Republic on 9/3/2021 – Find article here   Doctors and practices that use medical practice companies and trusts to bill their patients predominantly for labour services to reduce their tax are likely to be impacted by a new ATO ruling that starts later this year. Commencing 1st […]

Health and Life Package Pricing

Our standard Packages Specialised Products & Services Personal Financial Needs & Specialist Services Our Standard Packages Financial Outsourcing (including bookkeeping) Packages 1Quarterly Reviews from $105.00per week per entity This package is for those who want to keep track of their own debtors & creditors but need a helping hand to manage their basic bookkeeping and […]