Accountants for surgeons

For better business operations

Boost efficiency with surgeons accountants who can take care of all your business and financial administration.

Liston Newton Advisory is rated 4.8 from 32 reviews

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Award winning accountants

SMSF multi service firm of the year awardSMSF customer service firm of the year awardIfa innovator of the year awardIfa holistic adviser of the year award

Leading Melbourne accountants for surgeons

Liston Newton Advisory has your business finance tasks all sewn up. Offering an in-depth understanding of your unique business challenges, we're here to ensure your business is set for maximum efficiency and productivity.

Whether you need help with asset protection, client billing services or tax planning and bookkeeping, we have a wide range of specialist accounting services to help.

Asset protection advice

Tax planning

Self managed Super

Bookkeeping services

Client billing processes

Accounting for surgeons

Learn more about your business with our comprehensive guides

At Liston Newton Advisory, we take pride in helping business owners get more out of their hard work. Our downloadable guides can give you an in-depth look at strategies and technologies that will help your business grow.

  • Discover tax strategies and business structures available to you
  • Understand and apply new business management technology
  • Get in touch with us for information tailored to your business

Expertise for the medical industry

Industry experience

Our 40 years of experience working with medical professionals like you has given us the in-depth knowledge you need.

Tailored services

Whether you need advice on assets, bookkeeping, super funds or anything else, we can tailor our services to suit.

Client partnerships

We will gain a clear understanding of your business goals, enabling us to support you both now and in future.

Innovative solutions

We can streamline your work processes using our innovative accounting solutions, for total ease, speed and efficiency.

Strategic accounting for OMFS Services

Strategic accounting for OMFS Services

Over the last 15 years, we've assisted an oral and maxillofacial surgeon with all aspects of his tax management and planning.

Advising first on the best investments to minimise tax for an investment property, we optimised it for more successful annual deductions, as well as capital growth.

Additionally, we were able to help him maximise wealth within his SMSF investments.

Converting our client's systems to cloud-based technology, we introduced more efficient and time-effective processes, enabling him to more tax-effectively accumulate wealth.

Our client's tax and investment strategies are fully aligned, enabling him to now also contemplate international investments.

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About us

We're a specialist accounting and business advisory firm with 40 years of experience helping healthcare professionals like you to maximise your business capabilities.

Our team can help you create better business health, with everything from strategic advice to day-to-day task implementation.

Learn about us

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

Should I consolidate or amalgamate my practice?

This is a common trend for medical professionals, and while 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

When a practice is consolidated with another medical professional, a management or service fee is usually put in place. This covers overheads such as rent, electricity, reception and administration staff.

It's important to note that it does not usually cover things like professional indemnity insurance, registrations and training.

Typically the management fee is between 30% and 40% of billings, and this also includes collecting cash from insurers and patients.

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

What tax deductions are common for surgeons?

Surgeons 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 costing less than $30,000 can instantly reduce tax in the financial year they are purchased.

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

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.

How can I better manage my cash flow?

Dedicated client software can enable you to manage your cash flow much more effectively. Cloud-based integrated software such as Xero can provide you with the ability to set monthly budgets and forecast when large expenses like insurances, WorkCover and payroll are due for payment, for instance.

Is it possible to run a primary production business to reduce my tax?

It has become increasingly difficult to set up these arrangements, as they often attract the attention of the ATO, and there are also several tests to be passed. However, it still can be suitable in some circumstances, and will largely depend on your individual situation.

Talk to the accountants who understand surgeons

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

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