Accounting for Dentists

Accounting and Financial Planning for Dentists

Accounting for Dentists

Whether you are just starting work in dentistry, considering the establishment of your own practice, or already operating one, having the right structures and systems in place will ensure you are in the strongest financial position possible.

Our goal is to make managing your financial affairs easy, so you can focus on building your business and career as a dentist.

Walshs Dentists

As a trusted firm specialising in accounting for dentists, Walshs has taken care of the finances of thousands of medical professionals over the past three decades to help set them up for financial success.

We understand the opportunities and challenges dentists face and can provide you with the best advice and management, as we have done for your peers so many times before. Our professional, client focused and reliable team can help you maximise your tax outcomes to make the most of your money now and throughout your career.

Dental practice establishment and management

Our team can work with you to ensure you have the correct business structure and processes for your circumstances in compliance with the ATO.

We can provide advice on:

  • Business structures
  • Personal Services Income (PSI)
  • ABN and GST registration
  • Business Activity Statements (BAS) reporting requirements
  • Business income, expenses and service fees
  • Bookkeeping and accounting software
  • Business bank accounts and credit cards
  • PAYG Instalments
  • Superannuation obligations
  • Service agreements

More than just accounting for dentists

No matter what stage you are at in your dentistry career, as financial advisers and accountants who specialise in working with dentists, Walshs can help you structure your finances to minimise your tax liabilities, create wealth, protect your assets and plan for retirement.

As a fully integrated financial services firm, we draw on the expertise of all our divisions to create a long-term wealth-building strategy tailored to your needs.
We can help you with:

  • Budgeting and cash flow review
  • Establishing and reviewing tax structures in adherence to current tax law
  • Applying the latest superannuation rules so you know exactly what your deductible and non-deductible super contributions can be
  • Evaluating managed and geared investments to achieve optimal long-term outcomes
  • Accessing specialist and personal insurance cover
  • Reviewing and structuring loans, mortgages and debt amortisation
  • Managing your superannuation

Specialist financial advice for dentists

When you work with us, you benefit from our experience of working with thousands of dentists and other medical practitioners. We can give you the best advice on finances and accounting for dentists as we thoroughly understand your profession and your career lifecycle.

We have drawn on this experience to develop a tried and tested roadmap that helps medical professionals achieve their financial goals throughout their career. Our experience means that we know what financial opportunities and challenges you may face at various stages of your career. Our team can give you reliable advice you can trust, as we have done so many times before.

Our professional advisers will work with your personal circumstances in mind to construct optimal strategies for you. We tailor our advice around your needs at each particular stage of your life and career, including advising on salary packaging, tax, budgeting, investments and insurance.

We are proud of the vast number of medical practitioners that have trusted Walshs to manage their financial affairs.

Home and investment loans for dentists

As specialists in accounting and financial services for medical practitioners, Walshs has access to specialist products that allow us to deliver market-leading solutions, including market-leading solutions tailored for dentists.

Our lending service includes:

  • Home loans
  • Investment loans
  • Commercial loans
  • Business and practice loans
  • Car and equipment loans
  • Self Managed Superannuation Fund loans

Income protection for dentists

There are two main requirements of financial independence - wealth creation and wealth protection.

Our professional and client focused insurance team is experienced in determining the right level of cover and the right insurers when it comes to specialist insurance advice for dentists.

Personal insurance comes in different forms, including:

  • Death cover
  • Total and permanent disablement (TPD) cover
  • Critical illnesses/Trauma cover
  • Income Protection cover

Buying your first home?

If you have made the big decision to buy your first home, you may be wondering, what next?

Preparing yourself with the right information is the first step towards buying your first property. To help you on your way, we have created a downloadable First Home Buyers Guide.

Our comprehensive 32-page guide contains all the vital information you need to know before embarking on the process of purchasing your first home.

Our Wealth Health Package is the foundation for your financial future.

Expert and strategic taxation, accounting and financial planning advice to dentists through every stage of your career lifecycle.

We understand your journey because, for over 30 years, we have worked with thousands of early career medical professionals to help them maximise the progression of their assets and build a solid foundation for the accumulation of wealth.

So, we’ve developed the Walshs Wealth Health Package to help you during these early days of your career.

What’s included in the Wealth Health package each year?

Your tax return completed and lodged by a medical accounting specialist

PLUS you have access to your Walshs financial advisor for: Personalised salary packaging management

Access to premium lending packages specifically available to clients of Walshs

PLUS your annual financial planning health check* discussion typically includes:

Managing your budget and cash flow

Maximising your superannuation

A personalised insurance review

Asset progression advice

Invitations to exclusive free events and workshops

Access to online resource centre

Our Partners

Walshs are the pre-eminent education provider for medical professionals in Queensland. We are the exclusive education provider for the Royal Australian College of Surgeons Queensland and QORA (Queensland Orthopaedic Registrars and we proudly work with many members of these colleges.
We also partner with a number of university societies including: UQDSA (University of Queensland Dental Students' Association), GUDSA (Griffith University Dental Students' Association), JCUDSA (James Cook University Dental Students' Association), UQMS (University of Queensland Medical Society), JCUMSA (James Cook University Medical Society) and GUMS (Griffith University Medical Society).

UQDSA
University of Queensland Dental Students' Association

GUDSA
Griffith University Dental Students' Association

JCUDSA
James Cook University Dental Students' Association

We know how busy you are

Walshs exists to make your life easier by providing the right advice and expert services.

We know how time-consuming it is to organise your tax returns, manage your financial affairs, organise home loans, or research where to allocate your capital. We make your life easier by seamlessly taking care of your finances across all of our divisions.

Our stress-free approach to financial management extends to your meetings with us. Our advisers regularly travel to regional centres throughout Queensland to make it easy to do business with us. We can accommodate your demanding schedule by coming to you or meeting virtually. Plus we regularly meet outside normal business hours to work around your practice hours or shift work.

If you have any questions about how we can get the financial side of your life organised, book a complimentary meeting at a time that suits you.

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