Accounting

MedRecruit and Openside’s Locum Package


MedRecruit is able to offer its contractors a tax and compliance package in collaboration with Chartered Accounting firm Openside CA Limited.


Step One: Optional Financial & Tax Education Session


This ½ hour session represents an investment in your financial and tax education and ensures you have a broad understanding of the following areas:

Tax efficiency and structure

  • You will be able to determine the most secure and tax efficient structure for your situation. Depending on your activities it may be appropriate to consider trust or company structures.
  • You will gain a broad understanding of what is required to comply with the NZ tax environment, particularly the provisional tax system and GST regime.

Accounting system

  • We have developed a free spreadsheet that should meet your needs. Click here  to request a copy of this fantastic resource

 

The cost for this ½ hour session is $100 plus GST. Click here  to register your interest


Step Two: Fulfilling your Tax and Compliance Obligations


From here you have three options:

  1. Make your owns arrangements
  2. Use the MedRecruit-Openside Locum Tax Model to guide you through your tax compliance with GST and Income Tax returns. This involves completing a simple Excel based model and filing the tax returns yourself. To request a copy of this model click here  and ask for the FREE MedRecruit-Openside Locum Tax Model.
  3. Engage the services of Openside to complete your annual financial statements and income tax returns. The price for this service depends on the complexity of your activities. For example, if you have a simple sole trader structure, the annual financial statements and income tax return is likely to cost $1,000 - $1,200 plus GST per annum. If your scenario is more complex or you would prefer Openside to complete your GST returns, then Openside can provide you with a quote.

When determining the best option for your situation, consideration should be given to the following:

  1. How much time and effort do you want to spend on tax compliance compared to earning income as a doctor?
  2. Whether you want a Chartered Accountant to ensure your tax compliance is accurate and that tax minimisation opportunities have been fully utilised?
  3. Whether you need to have a trust or company structure in place that will require professional assistance?

To make use of this facility please register your interest  on the Openside website.