--- title: Tax Advice & Financial Structuring for Doctors | Verity description: Tax-led advice for Australian doctors and dentists. Make informed decisions about GP contracting, practice ownership, borrowing, super and wealth. --- [Skip to content](https://www.verityadvisory.com.au#main) [![Verity Advisory](https://8127383.fs1.hubspotusercontent-na1.net/hub/8127383/hubfs/Brand%20Logo%20etc/2.png?width=120&height=48&name=2.png)](https://www.verityadvisory.com.au/?hsLang=en-au) ☰ Menu Who We Help [GP Contractors](https://www.verityadvisory.com.au/doctors/gp-contractors/?hsLang=en-au) [Practice Buy-ins](https://www.verityadvisory.com.au/doctors/practice-buy-in-advice/?hsLang=en-au) [Dentists](https://www.verityadvisory.com.au/dentists/?hsLang=en-au) Services [Tax Advice & Structure Reviews](https://www.verityadvisory.com.au/what-we-do/tax-advice/?hsLang=en-au) [Medical Practice Accounting](https://www.verityadvisory.com.au/what-we-do/medical-accounting/?hsLang=en-au) [Financial Advice](https://www.verityadvisory.com.au/what-we-do/financial-advice/?hsLang=en-au) [Insights](https://www.verityadvisory.com.au/insights/?hsLang=en-au) [About](https://www.verityadvisory.com.au/about/?hsLang=en-au) [Contact](https://www.verityadvisory.com.au/contact/?hsLang=en-au) [Client portal](https://clients.karbonhq.com/us2/21yyHN8dJMd6/login)[Doctor Financial Scorecard](https://doctor-financial-scorecard.scoreapp.com/) Tax advice and financial structuring for doctors # Tax advice for doctors Whether you're moving into GP contracting, facing bigger tax bills or considering practice ownership, the next financial decision isn't always clear. We help doctors understand the tax and financial consequences before they commit. [Start the Doctor Financial Scorecard](https://doctor-financial-scorecard.scoreapp.com/)[Book a 15-minute discovery call](https://meetings.hubspot.com/verityadvisory/15-min-phone-call) A short self-assessment to identify areas worth reviewing. Not personal advice. Chartered Accountant Member, CA ANZ Registered Tax Agent [Tax Practitioners Board register](https://myprofile.tpb.gov.au/public-register/practitioner/?ran=26093041) Financial advice Authorised Representative No. 1261831 Where you are now ## Advice for the financial decisions you face at each stage The questions change as you move into contracting, earn more, buy a practice or plan to work less. Start with the situation you recognise. We help clarify what's at stake, the tax consequences and the next practical step. [Moving into GP contracting?A new service agreement, unfamiliar PSI rules and tax bills can make the transition uncertain. Get clear on your tax position, cashflow and what needs setting up first.GP contractor tax advice →](https://www.verityadvisory.com.au/doctors/gp-contractors/?hsLang=en-au)[Earning more but not getting ahead?Higher income can mean bigger tax bills and competing demands on your cash. Review your structure, tax planning and priorities before making another financial commitment.Review tax & structures →](https://www.verityadvisory.com.au/what-we-do/tax-advice/?hsLang=en-au)[Considering a practice buy-in?The opportunity may look promising, but what remains after tax and loan repayments? Assess the ownership structure, funding and cashflow before you sign.Practice buy-in advice →](https://www.verityadvisory.com.au/doctors/practice-buy-in-advice/?hsLang=en-au)[Running a practice with growing demands?Staff, expenses and tax obligations can make profitability and cashflow hard to see. Understand the numbers and what needs attention before planning your next move.Practice accounting & tax →](https://www.verityadvisory.com.au/what-we-do/medical-accounting/?hsLang=en-au)[Thinking beyond clinical income?A good income doesn't automatically create long-term financial security. Bring decisions about debt, super, investments and insurance together with your tax position and future plans.Financial planning for doctors →](https://www.verityadvisory.com.au/what-we-do/financial-advice/?hsLang=en-au) Work in dentistry? [See our dedicated tax advice page for dentists.](https://www.verityadvisory.com.au/dentists/?hsLang=en-au) ## Your tax structure affects more than tax How you earn, own assets and structure your affairs can influence cashflow, borrowing options and future financial flexibility. These decisions deserve a connected view. - Contractor income: your service agreements, PSI position and tax cashflow can influence the options available later. - Practice ownership: a buy-in can create ongoing tax, funding and ownership commitments that may be difficult to change. - Surplus income: decisions about debt, investing and superannuation have different cashflow and after-tax implications. The aim is clarity on the financial trade-offs before an important decision becomes difficult to unwind. Wealth Compass System™ ### Tax-led, connected advice We start with the tax and structuring questions. Where relevant, we then consider borrowing, investments, insurance, superannuation and retirement as part of the same financial decision. Not every client needs every service. **Tax**Structures & planning **Borrowing**Capacity & cashflow **Wealth**Super, investing, protection What we do ## Tax is the starting point. The advice stays connected. [Core serviceTax planning & structuringTax-led advice for GP contractors and medical practice owners, including income arrangements, PSI considerations, entity and ownership structures, tax planning and the consequences of major financial commitments. - GP contractor tax & PSI - Income and ownership structures - Tax planning & cashflow - Practice buy-ins & exits Tax advice →](https://www.verityadvisory.com.au/what-we-do/tax-advice/?hsLang=en-au)[Medical practice accountingTax compliance, reporting and cashflow insight for practice owners, with advice on the decisions behind the numbers.Medical practice accounting →](https://www.verityadvisory.com.au/what-we-do/medical-accounting/?hsLang=en-au)[Financial planning & wealthInvestment, super, insurance and retirement decisions considered alongside your tax position and wider financial commitments.Financial advice →](https://www.verityadvisory.com.au/what-we-do/financial-advice/?hsLang=en-au) ## How we help you make the next decision We start by understanding what is changing, what is causing uncertainty and what decision you need to make. Then we work through the tax implications and other financial consequences that matter. 1. Step 1 Understand what is happening Listen to your situation and clarify the pressure points, objectives, current structures and commitments. 2. Step 2 Work through the real trade-offs Examine the tax consequences first, along with borrowing, cashflow and longer-term implications where relevant. 3. Step 3 Make the next step clear Explain the options, scope of advice or work required, and an appropriate order for the decisions ahead. ## What clients say > Tommy, your expertise in managing finances and attention to detail truly make a difference. Thank you for your hard work and dedication. It’s reassuring to know we have someone as competent and reliable as you looking after our financial matters. > Tommy is a fantastic accountant. He is knowledgable, reliable and provides an excellent service. He helps ensure our business runs smoothly and always provides us with great advice. > Tommy is extremely professional, prompt, knowledgeable and helpful. I highly recommend him. ![Tommy Li CA](https://8127383.fs1.hubspotusercontent-na1.net/hub/8127383/hubfs/72ppi-TommyLi-0016475-Edit.jpg?width=652&height=978&name=72ppi-TommyLi-0016475-Edit.jpg) Who you’ll work with ## Tommy Li CA Founder and Principal Adviser Tommy Li founded Verity Advisory to help clients make informed decisions where tax, ownership, borrowing and longer-term financial considerations meet. A Chartered Accountant, Registered Tax Agent and authorised financial adviser, Tommy brings an accounting and tax foundation to questions such as contracting, business structures, practice ownership and allocating surplus income. Verity focuses on understanding the decision first, identifying the tax and financial trade-offs and agreeing practical next steps. [Learn more about Verity Advisory and its approach](https://www.verityadvisory.com.au/about/?hsLang=en-au). - Registered Tax Agent – Tax Practitioners Board (TPB) - Registered Financial Adviser (ASIC) – Authorised Representative No. 1261831 - Member of Chartered Accountants Australia and New Zealand - Member of Financial Advice Association Australia [More about Verity →](https://www.verityadvisory.com.au/about/?hsLang=en-au)[Connect with Tommy on LinkedIn (opens in a new tab)](https://www.linkedin.com/in/tommylica/) Insights ## Tax and financial insights for doctors [Browse insights →](https://www.verityadvisory.com.au/insights/?hsLang=en-au) [Borrowing & Property · 11 Oct 2026Building an Investment Property? Split the Loan Before You Sign](http://www.verityadvisory.com.au/insights/property-investment-and-lending/building-an-investment-property-split-the-loan-before-you-sign?hsLang=en-au)[Practice Ownership · 8 Oct 2026Practice Owners: Choose Your Trust Structure for the Sale, Not the Announcement](http://www.verityadvisory.com.au/insights/tax-and-structuring/practice-owners-choose-your-trust-structure-for-the-sale-not-the-announcement?hsLang=en-au)[Earnings & Tax · 30 Sept 2026The 30% Minimum Tax on Family Trusts: What Doctors Need to Know](http://www.verityadvisory.com.au/insights/tax-and-structuring/the-30-percent-minimum-tax-on-family-trusts-what-doctors-need-to-know?hsLang=en-au) Explore the decisions:[Earnings & Tax](https://www.verityadvisory.com.au/insights/tag/earnings-tax?hsLang=en-au)[Borrowing & Property](https://www.verityadvisory.com.au/insights/tag/borrowing-property?hsLang=en-au)[Practice Ownership](https://www.verityadvisory.com.au/insights/tag/practice-ownership?hsLang=en-au)[Wealth & Retirement](https://www.verityadvisory.com.au/insights/tag/wealth-retirement?hsLang=en-au) ## Frequently asked questions Who does Verity Advisory work with? We focus on Australian doctors and dentists, particularly GP contractors, medical and dental practice owners, and professionals facing important tax, borrowing and wealth decisions. We are based in Brisbane and can work with clients elsewhere in Australia. Should I use a company or trust to reduce tax as a doctor? Not automatically. Income mainly earned from your own clinical work may be personal services income, and tax integrity rules can restrict the benefits of using an entity. We assess your actual arrangements and the commercial reasons for any structure before recommending changes. Can you help before I buy into a practice? Yes. We can discuss the tax, sustainable practice earnings, borrowing and personal cashflow implications, and work alongside transaction lawyers or valuers where their expertise is needed. [Explore practice buy-in advice](https://www.verityadvisory.com.au/doctors/practice-buy-in-advice/?hsLang=en-au). How does tax advice connect with financial planning and borrowing? The way you earn and hold income can affect both what you keep after tax and what lenders consider available. Investing, debt repayment and super contributions also have different tax, liquidity and long-term implications. We coordinate these questions where relevant, with separate engagements and authorisations for regulated services. Do I need to know what type of advice I need before contacting Verity? No. Tell us what has changed or what decision you are facing. We can discuss the relevant issues and whether a tax review, accounting, personal financial advice, credit assistance or another professional is appropriate. How do I get started? If you have a specific decision, [book a 15-minute discovery call](https://meetings.hubspot.com/verityadvisory/15-min-phone-call). If you are still exploring your financial position, you can start with the [Doctor Financial Scorecard](https://doctor-financial-scorecard.scoreapp.com/), which is a self-assessment rather than personal financial advice. ## Know where your financial structure stands Complete the Doctor Financial Scorecard to identify tax, borrowing and financial planning questions worth reviewing. It is a starting point for discussion, not personal advice. [Start the Doctor Financial Scorecard](https://doctor-financial-scorecard.scoreapp.com/) ## What's the financial decision on your mind? Perhaps a contractor agreement is changing, tax bills have grown, or a practice opportunity is becoming serious. Tell us what's happening and where you need clarity. We'll discuss which questions need attention and what support may be appropriate, starting with your tax position. [1300 173 103](tel:1300173103)[info@verityadvisory.com.au](mailto:info@verityadvisory.com.au)Suite 10, 39 Jeays St, Bowen Hills QLD 4006[Book a 15-minute discovery call →](https://meetings.hubspot.com/verityadvisory/15-min-phone-call) VERITY ADVISORY Financial guidance for doctors. Suite 10, 39 Jeays St, Bowen Hills QLD 4006 Explore [About](https://www.verityadvisory.com.au/about/?hsLang=en-au) [Tax advice](https://www.verityadvisory.com.au/what-we-do/tax-advice/?hsLang=en-au) [Medical practice accounting](https://www.verityadvisory.com.au/what-we-do/medical-accounting/?hsLang=en-au) [Financial planning](https://www.verityadvisory.com.au/what-we-do/financial-advice/?hsLang=en-au) [Insights](https://www.verityadvisory.com.au/insights/?hsLang=en-au) Who we help [GP contractors & locums](https://www.verityadvisory.com.au/doctors/gp-contractors/?hsLang=en-au) [Practice buy-ins & owners](https://www.verityadvisory.com.au/doctors/practice-buy-in-advice/?hsLang=en-au) [Dentists](https://www.verityadvisory.com.au/doctors/dentists/?hsLang=en-au) Contact [1300 173 103](tel:1300173103) [info@verityadvisory.com.au](mailto:info@verityadvisory.com.au) [LinkedIn](https://www.linkedin.com/in/tommylica/) [Google reviews](https://g.page/r/CYh1GySJj-nIEBM/review) [Client portal](https://clients.karbonhq.com/us2/21yyHN8dJMd6/login) Get new insights by email Practical articles on tax and financial decisions for doctors. [Subscribe](https://www.verityadvisory.com.au/insights/#subscribe) Verity Advisory is a [Registered Tax Agent](https://myprofile.tpb.gov.au/public-register/practitioner/?ran=26093041) with the Tax Practitioners Board (TPB). Verity Finance Pty Ltd t/as Verity Financial Advice (ABN 13646391639) is a Corporate Authorised Representative No.1296510 of Advice Practice Alliance Pty Ltd AFSL 552467. For information about our tax practitioner obligations, financial services disclosures and Financial Services Guide, see [Website Disclosure Information](https://www.verityadvisory.com.au/disclosures/?hsLang=en-au). The information on this website is general information only and is not intended to be a recommendation. We strongly recommend you seek advice from your financial adviser as to whether this information is appropriate to your needs, financial situation and investment objectives. Whilst every care has been taken in the preparation of this website, Verity Finance Pty Ltd, its related entities, directors, authors, consultants, editors and any persons involved in the construction of this website, expressly disclaim all and any form of liability to any person in respect of this website and any consequences arising from its use by any person in reliance upon the whole or any part of this website. © 2026 Verity Advisory. Liability limited by a Scheme approved under Professional Standards Legislation. [Privacy Policy](https://www.verityadvisory.com.au/privacy-policy/?hsLang=en-au) [Terms & Conditions](https://www.verityadvisory.com.au/terms-of-use/?hsLang=en-au) ```json { "@context" : "https://schema.org", "@type" : "AccountingService", "address" : { "@type" : "PostalAddress", "addressCountry" : "AU", "addressLocality" : "Bowen Hills", "addressRegion" : "QLD", "postalCode" : "4006", "streetAddress" : "Suite 10, 39 Jeays St" }, "areaServed" : "Brisbane", "email" : "info@verityadvisory.com.au", "founder" : { "@type" : "Person", "jobTitle" : "Founder and Principal Adviser", "name" : "Tommy Li" }, "name" : "Verity Advisory", "sameAs" : [ "https://www.linkedin.com/in/tommylica/" ], "telephone" : "+61 1300 173 103", "url" : "https://www.verityadvisory.com.au/" } ``` ```json { "@context" : "https://schema.org", "@type" : "FAQPage", "mainEntity" : [ { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "We focus on Australian doctors and dentists, particularly GP contractors, medical and dental practice owners, and professionals facing important tax, borrowing and wealth decisions. We are based in Brisbane and can work with clients elsewhere in Australia." }, "name" : "Who does Verity Advisory work with?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "Not automatically. Income mainly earned from your own clinical work may be personal services income, and tax integrity rules can restrict the benefits of using an entity. We assess your actual arrangements and the commercial reasons for any structure before recommending changes." }, "name" : "Should I use a company or trust to reduce tax as a doctor?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "Yes. We can discuss the tax, sustainable practice earnings, borrowing and personal cashflow implications, and work alongside transaction lawyers or valuers where their expertise is needed. Explore practice buy-in advice." }, "name" : "Can you help before I buy into a practice?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "The way you earn and hold income can affect both what you keep after tax and what lenders consider available. Investing, debt repayment and super contributions also have different tax, liquidity and long-term implications. We coordinate these questions where relevant, with separate engagements and authorisations for regulated services." }, "name" : "How does tax advice connect with financial planning and borrowing?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "No. Tell us what has changed or what decision you are facing. We can discuss the relevant issues and whether a tax review, accounting, personal financial advice, credit assistance or another professional is appropriate." }, "name" : "Do I need to know what type of advice I need before contacting Verity?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "If you have a specific decision, book a 15-minute discovery call. If you are still exploring your financial position, you can start with the Doctor Financial Scorecard, which is a self-assessment rather than personal financial advice." }, "name" : "How do I get started?" } ] } ```