Tax & Accounting
It’s really worth your while engaging an accountant in Australia. MedRecruit locum doctors who do not have their own accountant are eligible for a free consultation with Deloitte. You can read more here.
The tax year in Australia finishes on June 30. To work in Australia you need a Tax File Number (TFN). It is easy to apply for a TFN online by visiting www.ato.gov.au
You will also need advice on GST. If you are a locum doctor, and on the hospital payroll, you will not need to register for GST. If you are NOT going on the hospital payroll, and “your annual turnover for this month and the last eleven months has exceeded $75,000 and your turnover for this month and the next eleven months is expected to exceed $75,000” you must register for GST.
Tax refunds are generally available if you are not working a full year in Australia or your time there crosses more than two tax years.