With a long history of working with medical and allied health practitioners, Quill can help navigate your needs by offering support from commencing and building your practice to exiting and retirement. We deliver solutions that boost your organisation’s underlying financial and operational fundamentals by offering assistance with setting up your medical practice, business structuring, asset protection, bookkeeping, tax and accounting, industry specific deductions, personal wealth and investments, financial planning, insurance, wills and estates.
Just like yours, our business is built on relationships and, after aiding more than 100 medical professionals, we understand the intricacies of your business. We don’t have a one size fits all approach but rather tailor our solutions to fit your unique circumstances. Guiding and assisting you throughout your medical career, from setting up in practice to closing that last patient file, we promise to provide personal and responsive service, ensuring you have experience on your side. With a focus on your needs, we can help with comprehensive insurance, establishing a partnership or multi–practitioner practice, understanding and navigating through the Personal Service Income rules, personal wealth creation, self-managed superfund set up and administration, investment advice, Wills & Estate Planning, preparing your medical practice for sale, retirement and post retirement financial planning and wealth management.
We also appreciate that medical practitioners are often time poor and juggling multiple schedules. The challenges you face are unique and sometimes unexpected so it’s important you are receiving timely and reliable information from a trusted advisor. Quill can help reduce some of the stress by providing proactive solutions and working with your team on the day-to-day operations of your medical practice including assistance with HR, Payroll, bookkeeping and administration and office leases, to name a few. We also keep up-to-date with medical industry reforms and regulations (such as reduced consultation times) and can help you with efficiency and best practice performance based on industry benchmarks.
Is your business positioned for future success? Is your PI insurance up to date, and do you review it regularly to ensure it still meets the regulatory requirement governing your profession? Depending on your speciality, your insurance premiums can range from $5,000 to $100,000 annually and we can work closely with you to identify any risks, and uncover any opportunities.
Navigating and understanding how the Professional Services Income (PSI) rules apply to you, and the impact these rules may have on how much tax you pay (whether you are trading in a company or not), is important. Many professional service providers find themselves caught out by these rules and it can be difficult to understand how different entity structures are impacted (for example service fees earned by a medical practice). Our experience in this area can help you have a better understanding of the rules and allow you to make informed business decisions.
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