Accountants for dentists

For finances worth smiling about

Enjoy effortless business efficiency with the dental industry accountants who can take care of all your accounting needs.

Liston Newton Advisory is rated 4.8 from 32 reviews

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Award winning accountants

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Leading Melbourne accountants for dentists

Liston Newton Advisory is here to look after the health of your business finances. Our in-depth understanding of your business challenges helps us ensure your business is geared for maximum efficiency and productivity.

Whether you need help with medical billing and scheduling systems, administration software or private health insurance rebates, we have a wide range of specialist accounting services to help you.

Accounting

Tax Planning

Restructuring practices

Wealth planning strategies

Bookkeeping

Payroll

Cashflow planning

Management reporting

Accounting for dental businesses

Expertise for the dental industry

Industry experience

Our 40 years of experience working with dental professionals like yourself has given us the knowledge and understanding you need.

Tailored services

We tailor our services to suit – whether you need advice on restructuring, bookkeeping, payroll services or much more.

Client partnerships

We work towards gaining a clear understanding of your business goals, enabling us to support you now and into the future.

Innovative solutions

Our innovative accounting solutions streamline your work processes for complete ease, speed and efficiency.

Strategic accounting for a local dental practice

Strategic accounting for a local dental practice

We were brought in to assist an East Melbourne-based dental surgery with a restructure of their practice, following the departure of one of the business partners.

We took the opportunity to modernise the practice, helping them update to cloud-based accounting and payroll that better integrated with their practice administration software.

We also assisted the business owner with ongoing wealth creation strategies such as self managed super and investment properties.

In addition, we've assisted with wealth protection via correct asset structuring and personal and business insurance.

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About us

We're a specialist accounting and business advisory firm with 40 years of experience helping our clients take their businesses from strength to strength.

Our team can help you create optimal business  health, delivering everything from strategic advice and support to day-to-day task implementation.

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Expertise you can trust

We've been doing this for a long time, and we have industry leading qualifications and accreditations to show for it. Learn more from a specialised business accountant.

Frequently asked questions

What is my practice worth?

A number of factors determine what a dental practice is worth. These include:

  • Turnover
  • Location
  • Age of fit-out
  • Number of consulting rooms
  • Length of current lease
  • Practice accreditation

All these factors will impact on the risks of acquiring your practice. Your practice will be more valuable if the risks are lower, and vice versa.

Dental practices are usually valued on a profit multiple. A multiple in the range of 2.5-5 x is common. For example, if your practice has annual profit of $300,000 and you have a 3.5 x multiple, your practice would be valued at $1,050,000.

What tax deductions are common for dentists?

Dentists can take advantage of the small business instant asset write off, which allows you to fully deduct asset purchases up to $30,000 in the year they are purchased. This means that any upgrades to equipment that cost less than $30,000 can instantly reduce tax in the financial year they are purchased.

Dentists often have significant expenditure for education and travel-related expenses for conferences. It's possible to claim any education expenses directly relating to your profession that assist you in completing your job and improving your skillset.

You can also claim travel expenses for attending conferences, both in Australia and overseas. If there's an element of personal travel attached to the trip, this needs to be apportioned.

Should I consolidate or amalgamate my practice?

This is a common trend for medical professionals – and whilst it doesn't suit everyone, it can provide advantages in:

  • Reducing overheads
  • Sharing back office support
  • Attracting and retaining better talent
  • Passing on cost savings to patients
  • Getting more consistent referrers
  • Upgrading to a better location
  • Sharing costs of equipment upgrades

Careful planning and consideration should be undertaken before an amalgamation is considered.

Talk to the accountants who understand the dental industry

We offer the best advice and support for dental professionals like you. Talk to the experts today.

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