Health and Medical Accounting
Specialist support for medical professionals
At Holmans, we act as a trusted medical accountant for healthcare professionals and understand the growing maze of challenges facing the sector. Our diverse healthcare and medical clients value our ability to provide experienced teams, accurate advice and timely solutions tailored to their specific circumstances.
Our proactive advisors remain up to date on current accounting issues and best practice policies, including tax matters unique to doctors and healthcare clients.
Why choose Holmans as your medical accountant?
Holmans has extensive experience working with health professionals, including individual doctors, dentists, physiotherapists and other practitioners, as well as larger medical groups and practices.
The taxation of health practitioners and their practices is complex. It involves numerous pieces of tax legislation, case law and industry practices — some of which are not always correctly applied.
Accordingly, it is vital to engage a well-qualified accountant with suitable experience. This ensures you correctly meet your income tax and GST obligations while legally reducing your income tax payable.
We take the time to understand your individual circumstances so we can provide tailored and practical solutions.
Why specialist advice matters for medical professionals
Australian Taxation Office (ATO) has a dedicated area focused on the health and medical sector. The industry is considered sufficiently complex that the ATO maintains an issues register specifically for health professionals.
If the ATO has a specialised team focused on healthcare, so should you. A suitably qualified accountant can help you navigate these complexities safely, while identifying legally accepted strategies to manage tax and build long-term wealth.
Importantly, the ATO often regards health professionals as high-income earners. As a result, the sector is a common focus for review and audit activity. Each year, the ATO compares industry benchmarks to identify practitioners claiming deductions above average levels or receiving refunds beyond typical thresholds.
With the right professional support, you can approach the tax landscape with clarity and confidence.
Privacy
Keeping our client records confidential is paramount to the success of this firm. Holmans look after a number of prominent and well recognised people, and are trusted implicitly to keep their information private and confidential. It is integral to our business, just as the privacy of your patients records is vital to the success of your health practice.
At Holmans, all employees must sign a confidentiality and privacy statement before commencing employment.
Our Experience
Holmans have a team of over 30 professionals at two offices on the Sunshine Coast (Maroochydore and Noosa). The principals and managers have mid-tier and Big 4 accounting experience and bring their depth of knowledge and professionalism to the Sunshine Coast.
In the Health Professional industry itself, we have a strong representation, with numerous doctors and medical practices already long term clients of this firm. This means our knowledge and expertise is up to date and we can safely guide you through the tax landscape, while understanding your particular industry and business concerns.
Holmans also have accountants with sufficient experience in NZ, USA and UK tax to enable us to manage any foreign income issues, where you have re-located to Australia.
What makes us different?
Holmans is a proactive firm committed to excellence in customer service. As a specialist medical accountant, our points of difference include:
- Experience in your industry.
- A guarantee to return phone calls and emails within 24 hours.
- Holmans can come to you – whether that be your medical practice or your home at a time and venue convenient to you.
- A proactive approach to reducing your tax liability and increasing your wealth. Holmans contact all our clients prior to 30 June to perform tax planning. After year end, your accountant is simply recording history and their ability to save tax is limited.
- A team of accountants, with different specialties, to ensure your specific requirements are met by an experienced medical accountant.
- Regular communication.
- Commitment to giving back. Holmans believe it is important to give back to the local community and through various fundraising events has raised thousands of dollars for local organisations and charities.
