“This is why it is better for doctors to contact reliable medical accountants to do their paperwork for them. Accountants like those associated with MEDIQ Financial Services can help doctors save time and money. They can also help the medical professional expand his reach and save up for his retirement years.
As the Australian government is bound to tighten up everyone’s financial belts, it is important for doctors to start preparing for their golden years. Calling a medical accountant service is the first step to a stable life after hanging the doctor’s coat.”
“Going the superannuation fund route may result in a lighter tax liability. Bryan states that pre-tax income contributions to the super only reap a 15% rate, but a 30% tax awaits doctors reaping at least $300,000. The super itself may be convertible into a pension fund provided that the doctor retires in their 60s; any properties bought under the super up to retirement will also be tax-free.
When you are getting ready for yearly duels with the Taxation Office about your numbers but have your hands full with cases, it can break you before long. Reputable accountants for doctors such as MEDIQ will take that burden off your hands.”
“Doctors have to review and compare past and present policies to ensure they apply the correct coverage when billing for the services they offer. Otherwise insurance companies may refuse to cover expenses in relation to the new rules. This then can lead to financial issues on the doctors’ part, which may take considerable time and effort to unravel. Situations like this highlight the need for the services of medical accountants in Melbourne.
Not only can a qualified medical accountant, like those from MEDIQ Financial Services, perform accounting tasks fundamental to the smooth operations of a practice, he can also be expected to be informed of any changes in the legal subsidy systems. This professional’s awareness of such possible changes can help him and the doctor lay down plans or strategies geared to cope with these changes. A medical accountant may be able to create multiple options to protect the medical practice from any issues with insurers and the ATO.”