Medical Practitioners Accounting Services & Finance Planning

Medical practitioners serve a vital part in the functioning of our society. They are the healers and fixers that rise to the occasion to help those in distress. However noble the job might be, we at Zimsen Partners understand the demanding role that all medical practitioners undertake for the sake of better health and maintaining a stable flow of income.

While your focus lies on being approachable, quick, decisive and responsible for all your patients. Zimsen Partners focuses on streamlining your finances so that while you’re doing the best you can, you can leave aside worrying about financial uncertainties. We have a team of specialists that understands the business of Medical practices and can keep a close eye on everything that needs to be managed such as staff members, people, cash flow, equipment, inventory, consumables and medicines, service providers.

We look after your money while you look after their health:

Zimsen partners seeks to cover all your financial needs, foreseeing the possibilities on most occasions and helping you prepare wisely, well before time. In addition to assistance with the compliance of common issues such as those of BAS, GST, superannuation and PAYG, our advice will extend to adopting the most appropriate tax structure for your business and put forward strategies that can protect your wealth and create more of it.

Some functions of accounting like bookkeeping, invoicing and payroll, which need to be carried out by Medical practices staff require a simple and efficient software. The problem with most accounting software these days is that while they are sophisticated, they lack the user friendliness that is required by the level of business needs of medical practice. We recommend software that is easy to use and is in sync with the accounting skill levels of your staff. If and when it is required, our team members can provide training to your staff on the know how’s of such a software.

Benchmarking and evaluation:

Our services for medical practices do not end with advice, ideas and strategies. We undertake market research and benchmark studies to compare the performance of your practice with others in the market. In an effort to determine what works best for you and what needs to be worked on more. Zimsen partners, in its broad experience, has assisted numerous medical professionals with obtain funding for equipment, property and have prepared numerous plans and cash flows to devise the plan of buying into a medical service.

Business services we offer for Medical Practices:

  • Tax Planning and Tax Advice.
  • Preparation of financial statements and income tax returns for various business structures including: trusts, companies, partnerships and joint ventures.
  • Preparation of indirect tax returns such as payroll tax and fringe benefits tax
  • Preparation of Income Activity Statements and Business Activity Statements
  • Liasing with Statutory Bodies including ATO on behalf of clients.
  • Assistance with statutory registrations including Work cover, ATO registrations and State Revenue Office registrations for Payroll Tax.
  • Setting Up and Changing of Business Structures.
  • Managing Issues with Related Company Loans and Director Loans.
  • Bookkeeping Services.
  • Individual Services

Services related to individual services:

  • Wealth Creation through Property Investments.
  • Taxation and Capital Gain Tax for Property, Shares, Managed Funds and other personal Investments.
  • Tax Planning.
  • Salary Packaging
  • Self-Managed Super Funds
  • Consulting Services
  • Liasing with ATO
  • Applying for Private Ruling from ATO
  • Tax returns and advice for Non-Residents
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