Healthcare

Organized finances workspace with a gold pen, financial documents, and a small wooden bowl with paper clips on a white desk.

Specialist accounting and tax advice for doctors, dentists & healthcare professionals

At Galley Associates, we provide dedicated medical accounting services tailored specifically for doctors, dentists, allied health professionals, and medical practices.

We understand the unique financial, tax, and compliance challenges faced by healthcare professionals — from managing multiple income streams to structuring practices efficiently and planning for long-term wealth.

Who We Work With

Our medical accounting services are designed for:

  • General Practitioners (GPs)

  • Medical Specialists

  • Dentists and Dental Practices

  • Allied Health Professionals (physios, psychologists, chiropractors, etc.)

  • Medical practices operating through trusts or companies

  • Contractors and practitioners with multiple income sources

Whether you’re starting out or running an established practice, we provide proactive, compliant, and practical support.

BOOK AN APPOINTMENT OR REQUEST A CALL BACK

Why You Need a Specialised Healthcare Accountant

Medical professionals face complexities that general accounting often misses, such as:

  • Multiple income streams (Medicare, private billing, hospital income)

  • PSI and contractor considerations

  • Service entity and trust structures

  • GST and BAS obligations for medical practices

  • High income levels require proactive tax planning

  • Asset protection and wealth structuring

As specialist medical accountants, we ensure your structure and tax strategy are aligned with both ATO requirements and your professional goals.

Our Medical Accounting Services

We provide end-to-end accounting support for healthcare professionals, including Individual and practice tax returns; Medical practice accounting and compliance; Business structuring (company, trust, service entity); Tax planning and minimisation strategies, BAS, GST, and PAYG management, Bookkeeping Services, Cash flow monitoring and budgeting, Asset protection and wealth structuring; Business structure reviews (sole trader, company, trust).

Why Galley Associates:

  • Registered Tax Agent and Certified Accoutant

  • Accredited MYOB partner

  • XERO Silver partner

  • Quickbooks Partner

  • Business consulting and improvement

  • Guides you in Succession planning

  • Experts in Corporate re-structuring

  • Tax effective structures

  • Arranging and obtaining finance and loans for facilities and housing

All advice is practical, clear, and tailored to your business.

LEARN ABOUT OUR OTHER SERVICES:

Taxation Services

Bookkeeping Services

Business Advisory Services

Book A Free 15 Minute Consultation Below

Whether you are just starting or have been running your business for years, you can benefit from the industry insights our accounting and business advisory team can provide. Reach out to see how we can help you!

Frequently Asked Questions

  • We offer a range of solutions designed to meet your needs—whether you're just getting started or scaling something bigger. Everything is tailored to help you move forward with clarity and confidence.

  • Getting started is simple. Reach out through our contact form or schedule a call—we’ll walk you through the next steps and answer any questions along the way.

  • Answer: For medical professionals, asset protection is critical. We often recommend a "Corporate Trustee" structure where your high-risk activities (practicing medicine) are separated from your high-value assets (family home, investments). This creates a "firewall" between your professional and personal life.

  • Answer: Meeting only once a year in July is "reactive." To be "proactive," we recommend a Mid-Year Tax Planning session in April or May. This allows us to implement strategies—like pre-paying interest or upgrading equipment—before the June 30 deadline, rather than just telling you what you should have done

  • Answer: If your combined income and super contributions exceed $250,000, you will be hit with an additional 15% tax on your concessional contributions. We help you manage your "Total Super Balance" and timing of contributions to mitigate the impact of this "High-Income" tax.

  • Answer: This is a common challenge in Melbourne’s healthcare sector. Having both PAYG and ABN income often leads to an "end-of-year tax sting" because not enough tax is withheld. Galley Associates provides proactive quarterly reviews to help you set aside the right amount for BAS and PAYG instalments, preventing cash-flow shocks.