Tax Issues for Medical Practitioners
A practical guide to the tax planning opportunities and pitfalls for medical practitioners.
Sep 19Wed 1:00 PM AEST - Wed 2:00 PM AEST Online
- $180.00 incl. GST
- PD hours: 1
Medical practitioners are amongst the most scrutinized professionals by the ATO, with a bewildering array of anti-avoidance rules in place to prevent perceived tax avoidance. So, where do all these rules leave medical practitioner clients who want a business structure that is both tax effective and aligned to their other life goals? This webinar will run through all the key tax rules applicable to medical practitioners, highlighting opportunities to be embraced and pitfalls to be avoided. The issues to be covered include:
• Personal Services Income rules; when and how might they apply to medical practitioners?
• Does incorporation offer a way forward? Navigating ATO rules on the incorporation of medical practices
• Structuring through a trust
• Use of service trusts
• ATO guidelines on allocation of profits within professional firms; where are we now those guidelines have been suspended?
• ATO compliance focus on lump sum payments paid to medical practitioners by healthcare clinics
Webinar Learning Outcomes:
Attendees will gain an overview of the key issues facing medical practitioners. The practical and solutions-oriented approach will include worked examples and planning tips as well as highlighting the pitfalls to avoid.
Tax and accounting professionals and other business advisers who deal, or hope to deal, with medical practitioners. The webinar will provide an introductory/intermediate overview of all the key tax issues to be considered when advising medical practitioners.
Mark Chapman has over 25 years experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a member of the Institute of Chartered Accountants in England and Wales, the Chartered Institute of Taxation and is a fellow of CPA Australia. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australian in 2007 to join the Australian Taxation Office (ATO) as a senior director. He is the author of “Life and Taxes: A Look at Life Through Tax”, published by CCH Wolters Kluwer in July 2017 and is a regular presenter of tax focused webinars for CCH Learning.
You will be provided with:
• PowerPoint Presentation slide deck
• Any Supporting Documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
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