CTK Accounting offers comprehensive accounting solutions tailored to the specific needs of medical professionals across Australia.
A medical professional’s journey from completing their studies to taking full time positions in clinics comes with increased tax compliance burdens. With these complexities also comes better tax planning opportunities and at CTK Accounting we aim to guide our medical clients to the best possible tax outcomes.
Our service delivery is crafted to eliminate the hassle for practitioners and give them time back.
Whether you are a GP in a bulk billing clinic seeing 30 patients a day or a specialist seeing fewer clients with more complicated health issues, the more important decisions you make throughout the day, the more depleted you will become. This is especially true when the decisions you are making directly impact others. Healthcare professionals carry the burden of patients' health outcomes on their shoulders.
As a registered CPA and tax practitioner firm, we alleviate the decision-making and research burden from healthcare professionals who are trying to manage their own tax compliance. Every hour a healthcare professional spends on tax research is an hour we have already dedicated to finding the answers.
We believe that healthcare professionals should prioritize their patients, continue their professional development in the medical field, and have time for their own rest and relaxation.
By focusing on your core competencies and outsourcing the rest, you can free up valuable time and mental capacity.We take a proactive approach in delivering our tax and compliance services, aiming to ensure that our clients will never be caught off guard by unexpected tax challenges or unnecessary time-consuming audits.
Once health practitioners have completed their internships and residencies, they are free to contract to clinics of their choosing. For many, the years of being an employee will cease, and the can of worms that is trading under your own ABN will be opened.
Different arrangements can be made with medical practices, though it is standard practice for medical practitioners to bill clients directly with their own ABN and pay a fee for the facilities and admin provided by the practice.
Review entity structure to maximise tax savings
Review Personal services Income rules and ATO practical compliance guides if necessary to ensure your professional services business is compliant
Set up your business on leading accounting software, we use Quicbooks and Xero
BAS/GST lodgement
Bookkeeping
Payroll and superannuation processing
Many medical clients work long hours and still take work home, such as responding to emails and reading through test results. With medical clinics pushing for higher patient turnover and the current shortage of talent (Qualified GPs are harder to come by than Ozempic!), practitioners are working more than ever.
We take the time to get to know our clients well and set up thorough systems initially to ensure ongoing efficiency. Our clients are put on a monthly payment schedule and added to our roster to ensure all accounting functions are processed on time.We take care of everything, so our clients barely have to lift a finger.
Our comprehensive accounting packages start at $4,800 + GST annually.
If you are ready to explore having CTK Accounting as your trusted advisor and accountant, get in touch and we would be glad to see if we are a good match for your business.