Medical Professionals Tax checklist and deductions

East Maitland Business Accountants: Trusted financial advisors for businesses

Ensuring the financial well-being of your medical practice is akin to diagnosing health issues in your patients. At Bottrell Business Consultants, we understand the critical role you play in healthcare, and we believe it’s equally important to assess the ‘health’ of your personal finances.

As a medical professional in East Maitland, Newcastle, Gold Coast, or Gosford—whether you’re a doctor, specialist, physiotherapist, or radiologist—you appreciate the significance of experience in evaluating crucial matters, be it a medical condition or a set of financial statements. The expertise required for taxes is no exception.

Seeking professional advice at the end of each financial year is a strategic move. By entrusting your financial matters to our knowledgeable tax consultants, you not only save time but also ensure that your taxes are handled by experts well-versed in the intricacies of the tax system. At Bottrell Business Consultants, we are passionate about optimising your returns and are committed to securing every deduction you deserve.

For medical professionals employed by a company, initiating your tax return requires obtaining an income statement from your employer, summarising salary, wages, allowances, and bonuses for the financial year. While you won’t need a physical copy, we can access the information once your employer lodges it with the ATO, enabling us to assist you in determining your deductions.

Understanding what deductions, you can claim is crucial. As a medical professional, eligible deductions include car expenses, professional association memberships, indemnity insurance, work-related clothing, equipment purchases, self-education costs, first aid training, phone and internet expenses, home office expenses, and travel expenses.

However, certain expenses are not claimable, such as regular work clothing, childcare costs, daily meal expenses, grooming costs, and commuting expenses between home and work.

Effective record-keeping is vital for a successful tax return. Maintain a comprehensive set of receipts, which can be digital copies, ensuring readability of supplier name, expense amount, nature of goods or services, payment date, and document date. Receipts for expenses under $10, totalling less than $200, may be exempted from retention.

If you happen to make a mistake in your tax return, prompt correction is advisable. Contact Bottrell Business Consultants immediately, and we will assist you in making the necessary amendments to avoid penalties or prosecution from the ATO.

For any queries or assistance with lodging your tax return, consult our experienced tax consultants at Bottrell Business Consultants. Call 02 4933 6888 for details or book an appointment online at your nearest office.

Tax Deductions

Deductions for Healthcare Professionals see link.

Medical Professionals Tax Checklist & Deductions

Income Sources

☑ Salary and wages (income statement from employer)
☑ Bonuses and allowances
☑ Private practice income
☑ Consulting fees
☑ Medicare payments
☑ Rental income (if applicable)
☑ Investment income (dividends, interest)

Work-Related Deductions

☑ Car & Travel Expenses

Travel between multiple workplaces or hospitals
Travel for house calls, patient visits, or off-site training
Parking, tolls, and public transport for work-related travel

☑ Professional Memberships & Insurance

Medical indemnity insurance
Membership fees for professional associations (AMA, RACGP, AHPRA)

☑ Work-Related Clothing & Equipment

Compulsory uniforms and protective clothing
Non-slip shoes and professional attire required for work
Laundry costs for uniforms
Stethoscopes, medical tools, and work-related equipment

☑ Self-Education & Training

Courses directly related to your current medical role
Conference fees, workshops, and professional development
Medical journals, textbooks, and reference materials

☑ Home Office & Communication

Phone and internet expenses for work-related use
Home office expenses (if working remotely or after-hours)

☑ Other Work-Related Expenses

Annual practising certificate renewal fees
Union and professional association fees
Work-related subscriptions and publications

Non-Deductible Expenses

☒ Travel between home and work
☒ General clothing (e.g., regular business attire)
☒ Childcare costs
☒ Daily meals and coffee expenses
☒ Grooming and personal care

Record-Keeping Tips

✅ Keep receipts for all deductible expenses (digital or paper copies)
✅ Maintain a logbook for work-related car use
✅ Store professional development certificates and invoices

For assistance with maximising your deductions and ensuring compliance, contact Bottrell Business Consultants at 02 4933 6888 or book an appointment online. ✅

About Bottrell Accountants, Tax Agents & Financial Planners

Our Accountants office, founded by Director Gavin Bottrell in June 2012, offers a range of advice services, including Personal Tax Returns, accounting, SMSF, business advice, and business growth to small, medium, and large businesses as well as individuals across Australia.

How to Contact Us

Newcastle Office: 1300 788 491 | newcastle@bottrellaccounting.com.au
Maitland Office: 02 4027 5782 | maitland@bottrellaccounting.com.au
Contact the Bottrell Newcastle Team
Contact the Bottrell Maitland Team
Gavin Bottrell – Linkedin, Facebook & Twitter
Rebecca Bottrell – Linkedin & Facebook

Location Information
* Business Tax Services (Newcastle | Maitland | Gosford)
* Personal Tax Return Services (Newcastle | Maitland | Gosford)
* Online Tax Returns (Newcastle | Maitland)

Contact us Today!

Take the first step towards maximising your tax refund – contact us today at Bottrell Accounting. Our dedicated team is ready to assist clients like you. Call us at 4933 6888 to schedule an in-person, phone, email or Zoom appointment.

Your financial well-being is our priority.