Medical Practice Start-Up and Acquisitions
Whether you are setting up your practice from scratch or acquiring an existing practice, we can advise you on a business structure to ensure it is tax effective, commercially sound, provides appropriate level of asset protection and supports your long-term goals.
We can help you prepare a business plan, evaluate different financing options, assist you with obtaining business, fit-out or equipment finance, take care of entity formation and registration and set up cloud accounting software to streamline financial reporting processes.
If you are acquiring or buying into an existing practice, we can provide independent valuation, benchmark the practice performance against competitors and undertake tax due diligence.
Running and Growing Your Practice
Through continuous engagement with you, we will help you manage and grow your practice. With our proactive approach to tax and business planning, we work with you to develop strategies to minimise taxes, manage cashflow and maximise your disposable income.
We can provide benchmarking reports analysing your practice performance against similar sized practices in your specialty and identify opportunities to increase profitability.
As your practice grows, you will have access to timely specialist tax and business advice to meet evolving needs of your business. We can review your current business structure in preparation for admitting new equity holders, revise your business plan and performance goals and help you obtain finance for expansion.
We also provide medical bookkeeping services to our clients to ensure your financial information is kept up to date to enable you to monitor your practice performance. We will ensure your tax and GST compliance requirements are taken care of so that you have more time to focus on your practice.
Selling Your Practice
If you are planning to sell your practice, we will work closely with you to develop an exit strategy and prepare your practice for sale. We can provide practice valuation and advise you on steps to take to maximise the value of your practice and structure the sale in the most tax effective way.
Depending on your circumstances, you may qualify for a range of Small Business Capital Gains Tax Concessions on sale of your practice, which can result in substantial tax savings, in some cases reducing tax liability to nil. Due to significant values involved in sale of business assets and complexity of CGT rules, mistakes can be costly.
With our extensive expertise in Capital Gains Tax, we will assess your eligibility and help you get the most out of available CGT concessions and rollovers to minimise taxes on sale of your practice and maximise your wealth.
PRACTICE BUSINESS STRUCTURE
TAX DUE DILIGENCE & COMPLIANCE CHECK
TAXATION & ACCOUNTING
CASH FLOW MANAGEMENT
SPECIALIST TAX ADVISORY
CAPITAL GAINS TAX & CONCESSIONS
Book your free no obligation Discovery Call with us to discuss your situation and see how we can assist with accounting, taxation and business advisory requirements of your medical practice.