Doctors, GPs, specialists and other medical professionals face some of the most complex financial and tax situations of any profession. High income, contractor and practice arrangements, asset protection concerns and unique lending needs all combine to create challenges that a general accountant may not fully understand.

At FinTax Partners in Greenslopes, Brisbane, we specialise in accounting, tax and finance for healthcare professionals. This 2026 guide explains the key areas where the right advice can protect your income, reduce your tax and support your long-term wealth, whether you are a registrar starting out, an established GP, or a specialist running your own practice.

Getting Your Structure Right

The way a doctor or practice is structured has a major impact on tax, asset protection and flexibility. Depending on your circumstances, this might involve operating as a sole trader, through a company, or through a trust or service entity arrangement. Specialists running a practice often use a service trust structure, where a separate entity provides administrative services to the practice.

The right structure depends on your income, your role (employee, contractor or practice owner), your asset protection needs and your succession plans. There is no one-size-fits-all answer, which is why tailored advice matters. We help medical professionals choose and set up structures that are tax-effective and compliant with ATO guidelines.

Payroll Tax: A Critical Issue for Queensland Practices

One of the most significant issues facing medical and healthcare practices in recent years is payroll tax on payments to contractor practitioners. Depending on how arrangements between a practice and its practitioners are set up, those payments may, in some cases, fall within payroll tax rules. Queensland payroll tax legislation and recent rulings have made this a complex and evolving area, and getting it wrong can be costly.

This is not a reason to panic, but it is a strong reason to have your arrangements reviewed by an accountant who understands the healthcare sector. We assess your specific practice arrangements and provide guidance on payroll tax compliance and risk, working with current Queensland Revenue Office guidance.

Claiming the Right Deductions

Medical professionals can often claim a range of work-related deductions, provided they relate to earning income and are properly documented. Common areas include:

• Medical indemnity insurance premiums
• Professional registration, college and association fees (for example AHPRA, RACGP, RACS)
• Continuing professional development, courses, conferences and journals
• Work-related travel between workplaces and certain equipment
• Self-education that maintains or improves your professional skills

Every claim needs to genuinely relate to your income and be supported by records. We help doctors claim everything they are entitled to while staying within ATO rules.

Superannuation and High-Income Considerations

Many doctors are high-income earners, which brings specific superannuation and tax considerations. The Division 293 tax applies an additional 15% tax on certain concessional super contributions for individuals with income above $250,000, so contribution strategies need to be planned carefully. Concessional contribution caps, carry-forward contributions and, for some, a self-managed super fund (SMSF) can all play a role in building retirement wealth tax-effectively.

These are areas where the line between tax planning and licensed financial advice matters, so we provide the tax and administration side and work with a licensed financial adviser where personal financial product advice is needed.

Medico Finance and Home Loans

Medical professionals often have access to lending benefits that other borrowers do not. Many lenders recognise the strong income profile of doctors and eligible healthcare professionals and may offer features such as waived lenders mortgage insurance (LMI) at higher loan-to-value ratios for eligible applicants. The specifics depend on the lender, your profession and your circumstances.

Through our affiliated finance company, we help doctors and healthcare professionals with home loans, investment loans and practice or equipment finance, structured alongside your tax position so your borrowing and your tax strategy work together.

Specialist Accounting and Finance for Brisbane’s Medical Professionals

Whether you are starting out, building a practice, or planning for the future, FinTax Partners in Greenslopes provides accounting, tax and finance built specifically for doctors and healthcare professionals across Brisbane. Let us take care of your finances while you take care of your patients.