Accounting and Financial Planning for Medical Interns
Financial Advice, Accounting and Tax for Medical Interns
The early years of your medical career are when some of the most important habits are formed and choices made for your financial future. As one of Queensland’s most trusted firms specialising in accounting for doctors and medical interns, we have taken care of the finances of more than 3000 medical professionals as they move from internships and training through to consultancy or private practice.
We understand the opportunities and challenges you will face in the years to come and can provide you with the best advice and management, as we have done so many times in the past for your colleagues. Walshs can get you started on the best path to financial freedom - guiding you through your training years and into your specialisation.
Our internship retainer package has been built to encompass all the services we know you may require during this time of your career. As a fully integrated financial services firm we draw on the expertise of all our divisions when it comes to providing you with the right advice.
Our Intern package covers all the accounting and financial services we know you may require at this point of your career, including:
general financial planning, including debt consolidation and budgeting
tax returns and minimising your tax liabilities
establishing a tailored personal insurance strategy
property guidance – including budgeting, loan structuring, pre-approval and complimentary RP data research reports
guidance on wealth accumulation strategies including investments
When you work with us, you benefit from our experience of advising thousands of interns over the past 30 years. We can give you the best advice on finances and accounting for doctors as we deeply 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. We know what opportunities and challenges you may face. Our team can give you reliable advice you can trust, as we have done so many times before. Some of the questions we commonly answer include:
When should I buy my first home?
Should I focus on paying my HECS debt off?
Can I claim home expenses?
I need a new car, how do I pay for it?
What do I need to know about superannuation?
Should I be aiming to buy a home or buy shares?
How do I make my savings work harder?
Does Salary Packaging mean I have a HECS Bill?
How should I pay off my student debt?
We answer these questions and more, while keeping your personal circumstances in mind, and constructing optimal strategies for you.
We tailor our guidance around your needs at each particular stage of your life and career, including advising on salary packaging, tax, budgeting and insurance.
Working with you on your finances through your intern year - and beyond
At your initial intern financial meeting with us, we will explain the key points for you to consider in order to ensure you're properly set up for financial success during your first year of work as an intern, and into your future. In particular we will discuss your salary package as well as giving you some general advice.
How salary packaging works, how to make the most of this government benefit and the importance of setting your account up early.
If you set up and manage your salary packaging effectively, you can save up to $4089 of income tax. Our specialist intern package includes the setup and management for your salary packaging account to ensure you maximise your tax savings.
How to increase your tax savings and what to expect from your first tax return.
Often your internship year is the first year you will have been required to lodge a tax return. Our specialist medical accounting team are experts at maximising your tax savings. Our team will explore all the available tax deductions to ensure you're getting the best possible tax refund.
How to start making the most of your intern salary immediately.
Start setting yourself up financially for your future. Our general financial planning discussion will cover superannuation, budgeting and investment planning.
Get your finances started with our Wealth Health package
Our special internship offer includes:
Your tax return
Annual financial health check
Salary packaging setup including ongoing management
Ongoing support until EOFY
All retainer fees payable are tax deductible
You will receive 40% off the normal $660 price for your internship and Junior House Officer year.
Refer three of your friends or colleagues and we will waive your intern fee.
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.
All advice on this site is general in nature and does not take into account your personal circumstances. Please do not hesitate to contact one of our adviser accountants or financial planning advisers if you have a query that is specific to your circumstances.
ABN 11 248 978 295 Walshs Financial Planning Pty Ltd AFSL 432636 ABN 82 122 293 912 Corporate Authorised Representative No. 463774 of Walshs Finance Australian Credit Licence 459119