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Specialist medical practice accounting

Smarter Accounting for Doctors

Keep more, stay compliant, and avoid tax-time surprises — with fixed-fee, proactive support from a specialist medical accountant.

  • Find missed medical deductions (practice + service entity expenses reviewed properly)

  • Avoid tax-time shocks with proactive planning (cash flow, tax provisioning, super timing)

  • Medical practice accounting that keeps you compliant (PSI + service entity checks, BAS-ready systems)
  • Lodgements managed early — clear deadlines, reminders, and a BAS/IAS calendar to prevent last-minute scrambles

 

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What you get with a specialist GP accountant

Proactive Accounting for GPs — Built to Protect Your Time, Income, and Future

You didn’t build a medical career to chase BAS deadlines or wonder if your structure is still safe. At 42 Advisory, we run your accounting like a system — proactive, organised, and designed to keep you compliant while helping you build wealth over time.

What we do for GPs and clinics:

  • Always-on compliance management
    BAS/IAS, payroll, super, and reporting kept up to date with a clear workflow and cut-off dates — so nothing becomes a last-minute scramble.

  • Tax planning that prevents surprises
    We provision early, plan ahead, and keep you informed — so EOFY is predictable, not painful.

  • Structure and PSI confidence
    Service entity and structure checks with practical guardrails, explained clearly.

  • Responsive support (not radio silence)
    When you have a decision to make — staffing, equipment, distributions, vehicle, property — you get timely answers.

  • Wealth-building strategy support
    Advice aligned to your goals: property, shares, SMSF considerations where appropriate, and tax-effective strategy that fits your timeline.


The result: fewer surprises, better decisions, and accounting that actually supports your practice goals — not just your tax return.

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Founders, Clinics, and Brands Who Trust Our Numbers

What Our Clients Are Saying

I am extremely satisfied with the services provided by Sergiy.His professionalism, technical skills, and dedication to client satisfaction are outstanding.
He gave me very helpful advices .
I highly recommend 42 Advisory for any accounting needs.

Dr. Kot

Highly recommend 42 Advisory. They clearly understand the medical industry and its regulatory and tax requirements. No hidden costs or surprises. The team is proactive, responsive, and consistently provides practical advice.

Dr. Peker

42 Advisory have become an integral part of our medical practice. Their precision in managing tax, BAS, payroll, and complex structures has given us clarity, compliance, and complete peace of mind

Family First Medical Center

Excellent service and a very smooth process from start to finish. Everything was explained clearly, making the experience straightforward and stress-free. Highly recommend.

Dr Exler

Accredited. Connected. Trusted by Melbourne’s Medical Community.

Certified Medical Accountants Backed by Australia’s Leading Platforms

42 Advisory’s Chadstone-based team combines medical accounting expertise with leading platforms like Xero, MYOB, and the ATO for seamless compliance and growth.
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Why doctors switch firms

Most Doctors Don’t Leave Over Tax — They Leave Over Silence

If your accountant only shows up at EOFY, you’re not getting planning — you’re getting paperwork.

Common signs it’s time to switch:

  • You’re unsure if your service entity is structured correctly

  • PSI questions get vague answers (or no answers)

  • You get last-minute requests before lodgement

  • You don’t have a clear tax plan — just a tax bill

You deserve an accountant for doctors who plans ahead — not one who reacts late.

The 42 Advisory approach

Proactive, Fixed-Fee GP Accounting — Built for Busy Clinics

We combine specialist medical accounting knowledge with modern systems, so your compliance and advisory work together — clearly and predictably.

What’s different:

  1. Medical-structure expertise
    PSI-aware, service entity-aware advice designed for real-world GP and clinic operations.

  2. Proactive planning cadence
    Tax provisioning, forecasting, and “what’s next” guidance — not just historical reporting.

  3. Fixed-fee transparency
    Clear scope. Clear inclusions. No surprise invoices.

Deadline-managed lodgements — we set cut-off dates, reminders, and workflows to help keep ATO due dates under control (when records are received on time).

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Accounting for GPs & Medical Practices

What is an accountant for doctors?

An accountant for doctors is an accountant who specialises in working with medical professionals, including GPs and medical clinics. This involves understanding how doctors earn income, Medicare billing flows, service entity arrangements, PSI rules, and the higher compliance and audit risks that apply to medical professionals.

Unlike a general accountant, an accountant for doctors provides advice tailored specifically to the financial, tax, and structural realities of medical practice.

Do GPs need a specialist accountant?

In most cases, yes. GPs face higher ATO scrutiny and more complex income structures than typical small businesses. A specialist accountant helps ensure your setup is compliant, efficient, and defensible — particularly if you operate through trusts, companies, or service entities.

How much do accountants charge per hour in Australia?

In Australia, accountant hourly rates generally range from $150 to $400 per hour, depending on experience, specialisation, and the complexity of the work. Medical and specialist accountants typically sit at the higher end of this range due to the additional compliance and advisory expertise required.

At 42 Advisory, we don’t work on open-ended hourly billing. Instead, we operate on a fixed-fee arrangement and always provide a clear quote upfront, so doctors and practice owners know exactly what their accounting will cost before any work begins.

This approach gives GPs:

  • Cost certainty

  • No surprise invoices

  • Ongoing access to advice, not just time-based billing

For most doctors, fixed-fee arrangements are more predictable and better aligned with proactive, long-term advisory support than hourly charging.

How do Australian doctors legally reduce their tax?

Tax outcomes depend on individual circumstances, but common areas include:

  • Correct entity and service structure

  • Superannuation planning

  • Legitimate expense allocation

  • Timing of income and deductions

This must be done carefully to remain compliant with ATO rules.

Why do doctors attract more ATO attention?

Doctors are considered higher-risk due to:

  • High income levels

  • PSI considerations

  • Common use of trusts and service entities

Proper structuring and documentation are critical to managing this risk.

What are common tax mistakes GPs make?

Some common issues include:

  • Incorrect service entity arrangements

  • Poor documentation

  • Inadequate tax planning

  • Relying on generic accounting advice

  • Incorrect income splitting

These issues often surface during ATO reviews or audits.

Do you work with GP clinics and group practices?

Yes. We work with individual GPs, partnerships, and multi-GP clinics, including practice owners and managers. Our advice scales as your practice grows.

Can you help if I already have an accountant?

Yes. Many GPs come to us for a second opinion or when their circumstances change. Switching accountants is typically straightforward when handled correctly.