Friday, June 28 2024 — Articles of Interest

Accounting & Tax for Medical Professionals

Written by FSD Team

For over 50 years, Perth accountants Smith Coffey have provided medical and dental accounting services to doctors, dentists, medical professionals and medical students. We take professional pride in providing our clients with the highest level of accounting and tax advice, and our qualifications place us in the top 1% of all accounting firms in Australia.

We understand that as a medical professional, you are highly trained and highly qualified, and you shouldn’t expect any less from your accounting firm. Smith Coffey has worked with medical professionals at all levels for over 50 years, and we have a comprehensive knowledge of medical and dental accounting and tax.

Partnering with Smith Coffey means you’re receiving the highest standard of medical and dental accounting services. We can provide you with financial advice that will not only help you grow your wealth but also protect your assets and identify tax opportunities.

Whether you’re still studying, about to launch your private practice or considering retirement, Smith Coffey’s specialist medical and dental accounting and tax experts can secure and stabilise your finances to prepare you for the next stage of your life.

book an initial consultation, on us!

Expert Medical Tax Accountants

Our Certified Practising Accountants (CPAs), Chartered Accountants (CAs) and Chartered Tax Advisers are at the top of their field. They are passionate about what they do and always seek to deliver the best results for their clients. Through continuous education and training, they maintain the latest specialist knowledge and are qualified to advise on the most demanding taxation and accounting matters.

In addition to accounting qualifications, our consultants are RG146 compliant and have completed either the Diploma of Financial Services (FP), the Advanced Diploma of Financial Services (FP) or the Diploma of Financial Planning. Some have also attained the designation of Certified Financial Planner (CFP). This places our consultants within the top 1% of the profession that are authorised to advise on all tax, accounting and financial issues.

We have been providing taxation and accounting services since 1972. Over this time, we have become the leading specialist advisers for medical and dental professionals.

Book a consultation to discuss:

  • Optimal Tax Practice and Investment structures
  • Income Tax Returns for Doctors
  • Fringe Benefits Tax
  • Salary Packaging
  • Business Activity Statements (BAS) / GST
  • Capital Gains Tax
  • Stamp Duty
  • Land Tax
  • Business Strategies
  • Superannuation and Retirement Planning
  • Bookkeeping
  • Payroll Tax
  • Management Service Fee Agreements


Medical & Dental Accounting

No matter what stage of your career you’re in, it’s never too late to get professional advice from accountants and tax advisors that specialise in the medical and dental sectors. We have a comprehensive understanding of the tax benefits and financial needs of medical professionals, as we’ve been helping them grow their wealth since 1972.

Book an appointment with an accountant for medical professionals that can provide specialised advice in the following areas:


Why Use a Medical & Dental Accounting Firm?

Our expertise in the medical sector allows us to provide you with the highest level of expert financial advice to suit your situation and income level. As a medical professional there are certain tax benefits as well as financial obligations you’re required to make and without the professional advice from a medical and dental accounting firm, you could be caught out of pocket.

At Smith Coffey, we specialise in financial planning to protect your income and assets from risk and prepare you and your business for future financial situations.

As Perth’s top medical and dental accounting firm, we have a wealth of experience helping medical professionals at all stages of their careers, from medical students to retirees, and we can help you with a tailored financial plan to achieve your goals.


What Are The Benefits to Using a Medical and Dental Accounting Firm?

By partnering with Smith Coffey, you’ll have access to accountants that have been working with medical professionals for the last 50 years and have comprehensive and detailed knowledge of all the tax and financial requirements you’ll face in your career.

You can sleep well at night knowing that you’re being advised by the top medical accounting firm in Perth and can instead spend your time focusing on your career or your business.

Our team of Perth accountants for medical professionals can help you plan for a career of higher income and the resulting higher tax requirements. We can help you build your wealth and ensure yours and your family’s assets are protected.

Book an appointment with an accountant for medical professionals

Perth’s #1 Medical Tax Accountants

Smith Coffey prides itself on delivering the best tax results year after year for you and your family. We’re specialist accountants for medical professionals and have detailed knowledge of the tax requirements and benefits for doctors, dentists and other healthcare workers.

Our comprehensive knowledge in the medical sector allows us to maximise your returns and develop highly-effective tax strategies that will allow you to predict how much tax you’re required to pay over a year in advance. This gives you time to prepare and protect your financial assets throughout your entire career and into retirement.

Why Use Medical Tax Accountants?

As a medical professional, throughout your career you’ll be faced with complex tax obligations based on your level of income. At Smith Coffey, the comprehensive tax knowledge of our medical tax accountants means you’ll never be caught out with a hefty tax bill and no available income.

We strive to find the best tax benefits available to your position and financial requirements. Our medical tax accountants are continuously analysing which tax strategy will best suit your personal situation and your financial goals.

Smith Coffey’s dedicated team of medical tax accountants are experts in preparing both personal and company tax returns. We have professional knowledge of the tax deductions that you can claim and can help you prepare in advance to reduce your tax bill.

What Are The Benefits to Using Medical Tax Accountants?

By partnering with an experienced medical tax accountant for tax return purposes, you’ll be putting yourself in a position to maximise your returns by utilising our decades of knowledge and experience.

A tax return accountant with an in-depth understanding of your professional background is an invaluable asset. At Smith Coffey, we understand all stages of a medical career from university student to retirement and can help you manage your tax obligations to allow you to grow your wealth. Our medical tax accountants team can advise you on effective tax deductions and the use of salary packaging (also known as salary sacrificing) to maximise your disposable income and reduce your tax bill. Here are just a few options you could be salary packaging:

  • Daily living expenses
  • Credit cards
  • Laptops / iPad etc
  • Loans
  • Cars
  • Meals
  • Mortgage
  • Superannuation

Contact us today to discuss your tax options.

If you’re looking to start your own private practice, book a consultation to discuss your options for a business structure that will suit your accounting, tax and income requirements.

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We will provide a bespoke financial plan to help you achieve your goals.

Smith Coffey specialising in the needs of medical & dental professionals 360 degrees of finance.