Bartley Partners has worked with medical and healthcare professionals and practices for decades to create efficient structures, ongoing compliance and tax planning and, of course, growth strategies to help practices expand and develop over time.
As with other high-income occupations, tax planning is of paramount importance. Medical practices must adhere to substantial record-keeping requirements which can lead to serious audit trail issues if incorrectly managed.
Some of the important things to consider as a medical practice are:
- Correct structuring to ensure asset protection, given the high risk of litigation while dealing with the Personal Services Income rules
- Succession planning to add value and structure your practice for sale
- Appropriate employment contracts to minimise client theft by unethical staff
- Developing appropriate service contracts and salary packaging
- Practice KPIs and benchmarking services
The Bartley Partners team is here to help you plan your medical practice’s future.
Call us on (08) 8338 1033 to arrange a meeting to discuss your medical practice tax planning and strategy needs.