Doctors are often higher-rate tax payers, which can be a source of frustration when preparing income tax returns. The specialised tax advisers at Smith Coffey can help you find and take advantage of your opportunities while minimising challenges across a wide range of taxation areas.

Our highly-qualified consultants are within the top 1% of the profession that are authorised to advise on all tax issues – we understand your complex financial needs as a doctor.

Save your time and money

We’ve helped clients save thousands of dollars in tax through appropriate tax planning and strategies. Our medical tax accountants know how to efficiently prepare and lodge your tax return to maximise your potential tax refund and ensure you meet your tax obligations. No matter what stage you are in your medical career, we assist individuals, trusts, companies, private practices, partnerships, associateships, and self-managed super funds (SMSF) to protect and grow their wealth.

Knowing that you are working with a local Perth tax accountant who understands your needs and financial position as a doctor means you can build a long-lasting and trusting relationship.

You can look to us for all your taxation needs, including:

  • 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

Download a copy of our Tax and Accounting fact sheet for further information.

Staying one step ahead

With the taxation system frequently changing, it’s important to stay up to date and diligently assess how any variations might impact doctors. We conduct regular training sessions to ensure our tax accountants and Consultants are at the forefront of any changes and are immediately aware of any new rulings or changes in tax legislation. We pride ourselves on providing knowledgeable and relevant tax advice for doctors.

Tax-effective wealth creation strategies for doctors

If you’re ready to build your wealth, we’re ready to help you protect and grow it in the most tax-effective environment. We can execute specialised tax saving strategies for doctors, medical professionals, and private practices to reduce your tax bill at the end of the year and maximise your earnings. These strategies will look at using your superannuation, negative gearing, family trusts, income splitting, investment bonds and more, and will be discussed with you for ensure a clear financial direction with a robust plan.

Tax deductions for doctors

In combination with growing and protecting your wealth over time, we also work with you to minimise your tax with specific tax deductions for medical professionals. Tax-deductible expenses for doctors can be claimed if they are work-related, such as appropriate deductions for car costs, travel, clothing, and self-education.

Continuing professional development (CPD) is one area where it pays to know what you can claim at tax time. The costs associated with meeting your CPD points requirement could be eligible to be claimed as a self-education tax deduction for doctors, for example.

Other relevant expenses you can claim a tax deduction for include:

  • Professional indemnity insurance (Avant, Medical Defence, MIPS)
  • Medical journal subscriptions and publications
  • AMA, AHPRA or other medical professional association membership fees
  • Medical equipment and insurance for that equipment

Don’t miss out – or worse, guess – at tax time. We provide you with the expertise and knowledge to efficiently prepare and lodge medical and doctor tax returns.

Tax for Private Practice

We’ll work with you to maximise returns in your new or established medical practice by optimising your practice structure for tax efficiencies and asset protection. Not all tax accountants understand the nuances of private practices and the financial management required. We make it easy for you to set yourself up for success:

  • We can get your tax return done every year if you follow our process (which is easy for you) without bothering you with trivial queries.
  • We'll tell you how much tax you must pay 18 months in advance.
  • We'll make sure you've saved this tax.
  • We'll make sure you get a refund every year.
  • We can do this because we only work with doctors – we understand your needs.

Tax advice you can count on

Our Certified Practising Accountants (CPAs), Chartered Accountants (CAs), Public Accountants (MIPA) and Chartered Tax Advisers (CTAs) are at the top of their field. They are passionate about what they do and always seek to deliver the best results for doctors. Through continuous education and training, they maintain the latest specialist knowledge and are qualified to advise in 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 issues.

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

Securing your financial future

We have a client first philosophy that's based around helping you create a clear and secure financial future. This means we take the time to get to know you and your particular needs to that we can make the most appropriate recommendations.

Get tailored tax advice today

We understand your complex financial needs. Contact us below to book your initial consultation at our expense (ie no cost to you).

 

who you'll be having a good chat with

Kristine Smith | Smith Coffey
Darren Freeman | Smith Coffey

Kristine Smith

Client Services Manager, Principal

Kris joined Smith Coffey in 1995 and has had over 25 years experience in managing clients' taxation and business needs. Kris has a Bachelor of Business (Curtin University), and Master of Business Administration (University of Western Australia). Kris is a member of the Institute of Chartered Accountants, is a Chartered Tax Adviser with the Taxation Institute of Australia and a Member of the Institute of Public Accountants (MIPA). 

Kris’s interests include movies, theatre, art and is a lover of all creatures great or small. Kris is currently volunteering at Kanyana Wildlife Rehabilitation Centre in Lesmurdie.

Darren Freeman

Client Services Manager, Principal

Darren commenced with Smith Coffey in 1993 and provides accounting, consulting and taxation advice to the medical and dental profession.

He holds a Bachelor of Business and is a member of the Institute of Chartered Accountants (CA). Darren is also a Chartered Tax Adviser (CTA), a Certified Financial Planner (CFP) and is a Member of the Institute of Public Accountants (MIPA).

Darren is married with two children and outside the office enjoys playing squash and soccer and is a member of the Perth Glory Football Club.

Darren is well qualified to advise clients on all their accounting, taxation and practice matters.