Prism Accounting provides specialist accounting and taxation services for doctors, dentists and allied health professionals.
With years of experience in medical accounting, our advisers can identify opportunities to legally minimise your tax, provide structuring advice, assist with practice set-up and ensure your ongoing tax compliance needs are taken care of.
Our advisers are experienced in providing medical accounting and taxation services to clients across different specialties and at different stages of life cycle, including Residents, VMO’s, Salaried Staff Specialists, Locums, GPs, Doctors and Dentists working under private contracts, and Medical and Dental Practices.
We have a strong Tax Advisory focus but we also take care of compliance needs of our clients. We provide full range of accounting and business services and can help you find a tailor-made solution to address your unique business requirements. We also help Individual Clients and Investors with tax planning, minimisation and compliance obligations.
Prism Accounting can assist you with:
- Tax Advice, Planning and Minimisation for Doctors, Dentists and Allied Health Professionals
- Salary Packaging Advice for Medical Professionals in Public Hospitals
- Private Practice Structuring Advice and Set Up
- Registration for ABN, TFN, GST and PAYG Withholding for Individual Practitioners and Other Entities
- Practice Acquisition and Buy Ins
- Service Entity Arrangements
- Restructuring or Selling your Practice
- Assessing Eligibility and Advising on Small Business CGT Concessions on Practice Sale
- Preparation of Annual Accounts and Financial Reports
- Preparation of Management Periodic Accounts and Interim Reports
- Income Tax Returns, BAS & GST Reporting and Compliance
- Accounting Software Solutions and Cloud Accounting for Medical and Dental Practices
- Income, Tax and Cash Flow Projections & Forecasting
- Business Performance Advisory
- Real Estate Property Investment and Transactions
- Capital Gains Tax Calculations
With large array of anti-avoidance rules, tax regulations, and continuous developments affecting health industry, it is important to get qualified advice from medical accounting specialist to avoid costly mistakes and ensure that your after-tax income is maximised.
Non-specialists accountants may have a good general understanding of tax law but they may not have specific knowledge and skills to be able to deal with unique issues affecting your profession.
- Tax Services for Doctors, Dentists and other Medical Professionals
- Tax Services for Professional Services Businesses
- Business Structuring and Small Business Start-Ups
- Small Business Concessions
- Capital Gains Tax, Concessions and Rollovers
Prism Accounting is a Chartered Accounting firm, which means we are committed to maintain high ethical and professional standards and keep up to date with legislation changes affecting your business through ongoing professional development. We are a holder of Certificate of Public Practice with Chartered Accountants Australia & New Zealand.
Our advisers hold the following Professional Accreditations:
- Chartered Accountant (CA), CAANZ
- Chartered Tax Adviser (CTA), The Tax Institute
- Registered Tax Agent, Tax Agent Practitioners Board