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Tax for private practice

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Newbie

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Hi, I'm going to be working in private practice as a dietician for 2-3 days per week. I'm a new graduate and new to the process. How do  I pay tax and do I need to generate a payment summary? Would I just pay the tax in a lump sum at the end of the financial year? Thanks.

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Most helpful response

Anonymous

Replies 1

Hi @tonyandnella 

 

You have a lot to consider tax wise, and as far as remitting tax to the ATO goes they have a payment system known as PAYG (Pay As You Go), and you can contact the ATO directly about this and payment summaries and they can walk you through what is involved.

 

You can also consider using the ATO Business Portal  if you wish do deal with the ATO electronically (for making payments and more).

 

As you are starting a business for possibly the first time I would strongly suggest going to see a Registered Tax Practitioner , whom should be able to assit with all associated taxation matters.

 

Contact the ATO on 13 28 66 between 8.00am and 6.00pm, Monday to Friday

4 REPLIES 4
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Anonymous

Replies 3

Hi @tonyandnella 

 

Just need a bit more information on how this " private practice as a dietician " is actually structured

 

Is this a business that you are setting up and running yourselves, or are you going to be employed by another party, or operates in some other manner ??

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Newbie

Replies 2

Hi, its a business set up by muself, will be working as a sole trader. I'll have the cost associated with renting a rom and will take medicare and private health cover payments through a hicaps machine linked to a bank account. As well, I'll be working in a clinic for somone else on 'wages' 2 days a week, which is completely separate.

 

Thanks.

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Most helpful response

Anonymous

Replies 1

Hi @tonyandnella 

 

You have a lot to consider tax wise, and as far as remitting tax to the ATO goes they have a payment system known as PAYG (Pay As You Go), and you can contact the ATO directly about this and payment summaries and they can walk you through what is involved.

 

You can also consider using the ATO Business Portal  if you wish do deal with the ATO electronically (for making payments and more).

 

As you are starting a business for possibly the first time I would strongly suggest going to see a Registered Tax Practitioner , whom should be able to assit with all associated taxation matters.

 

Contact the ATO on 13 28 66 between 8.00am and 6.00pm, Monday to Friday

Highlighted

Newbie

Replies 0

Thank you very much