I was recently interviewed by Medicubes hosts Chris Meed and Kim Poyer about the complexities of payroll tax for medical practices in Australia.
Exploring practice managers' challenges provides insights into recent changes and offers practical advice for navigating this intricate landscape.
Key Points:
Impact of Payroll Tax: Payroll tax management is a complex issue affecting the longevity of medical practices. This paper highlights its significance and challenges.
Importance of Expert Advice: Business owners are encouraged to seek professional advice to navigate payroll tax intricacies and ensure compliance.
Payroll Tax Updates: Delving into the specifics of recent payroll tax updates, particularly in New South Wales, including the 12-month pause on audit activity and new bulk billing rebate thresholds.
Bulk Billing Definition: How bulk billing percentages are calculated and the exemptions applicable before and after September 4th.
Surcharging Practices: The relevance and challenges of payroll tax surcharging, including different state approaches and software solutions to streamline the process.
Flow of Funds: Comparison of traditional and new payment approaches to reduce payroll tax exposure, focusing on the favourable guidelines in Queensland.
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