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Walshs

Walshs are leading financial advisors in Brisbane, providing accounting and strategic financial planning advice.

T: 61-7-3221 5677
Email: E : enquiries@walshs.com.au

Walshs
Level 24/10 Eagle Street, Brisbane QLD 4000

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RACS Prep for Practice
Monday, 13 September 2021 / Published in Articles, Business

Taking the right steps into private practice

If you’re considering a move into private practice, there are a range of decisions you’ll need to carefully navigate to avoid losing money and finding yourself in trouble with the ATO.

Whether it is starting with the right business structure, finding funding to establish your rooms, or protecting your growing wealth, Walshs has years of practical experience to share with you at the upcoming Royal Australasian College of Surgeons’ (RACS) Younger Fellows Preparation For Practice Workshop. You can register here.

The two-day workshop presented by RACS will walk you through the financial, legal, and technical considerations you’ll face when starting up, buying into and running a private practice. You will also receive solid advice on marketing your practice, working with hospitals and health funds and running an effective private practice.

The Walshs team will lead three sessions that will share valuable insights to help you establish or buy into an existing practice without being caught by financial traps.

Our presentation on ‘Business Models of Private Practice’ will look at establishing your private practice or business affairs. It is critical that you start with the proper business structure for your needs. As each form of structure has its own benefits and limitations, it is essential you select an option that meets your individual circumstances, follows ATO guidelines, and yields tax benefits.

Our ‘Funding Your Private Practice’ session will focus on the different expenses you can expect when establishing rooms and how you can effectively cover the costs. We’ll also look at the ownership and funding options available when you purchase or update real estate for your rooms and their relevant advantages and challenges.

Our third and final presentation across the weekend will cover the important topic of ‘Wealth Creation and Protection’. You have worked hard to get to this point; it makes sense to protect your assets through personal and business insurance. This session will look at the different types of cover available to you and how they can help protect you and your family. We will also examine some different wealth creation strategies and the importance of estate planning.

At Walshs, we take great pride in seeing our client’s progress from intern to specialist and into private practice. We have supported many clients through this transition, and we look forward to sharing our wealth of knowledge and experience at RACS’ Younger Fellows Preparation for Practice Workshop.

For more information about the Younger Fellows Preparation for Practice Workshop, click here.

To chat to the Walshs team about your individual circumstances please email us or call 07 3221 5677.

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About Walshs

Walshs Practice was established in 1991 and has grown to become one of South East Queensland's leading accounting and financial planning firms. Walshs encompasses tax and accounting services, business structuring, wealth advice, business services, superannuation and retirement planning, finance, insurance, lending and estate planning all under one roof.

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  • OFFICE - Level 24/10 Eagle Street, Brisbane QLD 4000
  • POSTAL ADDRESS - GPO Box 12, Brisbane QLD 4001
  • TELEPHONE: - 61-7-3221 5677
  • FACSIMILE - 61-7-3221 5744
  • EMAIL - enquiries@walshs.com.au
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.
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