We've got your back
Health care is a career path that can be both very rewarding and thankless. You are exposed to people at their best, and worst. Hours are usually long and erratic (shift-work). You are probably on your feet all day (night), or at least most of it.
You need an accountant that understands how the health industry works and who can take the headache away from trying to manage your tax on top of your job.
Taxes reduction
Everyone wants to reduce their tax. In the process of preparing your tax return, we will provide advice about how you can save a bit more tax next time. Sometimes it can be a simple change. Sometimes though the tax saving of a small change is not real.
For example; paying private patient hospital cover (health insurance) will reduce your tax, but it may cost more than the tax saved. Any advice we give will be in real terms that you can understand. You can be assured that we will explore every possible avenue for you.
Helping you organise your taxes
Bring in your shoe-boxes, plastic bags, exercise books. However you keep your receipts, we can handle it. We recommend having a go at the ATO app. MyDeductions is a great tool, and you can email your file straight to us. It also has a great log-book feature.
Understanding Salary Packaging
Very few workplaces have not been touched by the rise of salary packaging. Salary packaging is where you pay for something you used to buy with your after-tax income, from your pre-tax income. We like to say you are moving the expense (rent, car, other) above the tax line. Most health care workers can access a “free” area of salary packaging amounting to the pre-tax equivalent of $17,000 (or $9,000 based on 2022 fringe benefits tax rates). We can help you understand this area and advise you on the pros and cons of salary packaging.
Making it simple for you
Whether in the search for a tax benefit or just by circumstance, we recognize that a lot of people have a little something else going on. Learn more about our complex tax services for more information relevant to your situation.
In the end, we try to make it simple. Think of one simple question when it comes to claiming deductions in your tax return… Is there a connection or link (legal term: nexus) between this expense and my income? If the answer is “yes” then usually it will be tax-deductible. The next step is how. That is where it can get complicated, but we will be there to guide you.