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Lately state revenue authorities have increased their focus on medical and allied health practices. Their focus has been on reviewing whether payments to professionals are “deemed wages” and therefore subject to payroll tax. Could your practice structure make you liable for the additional tax liability?
All businesses and not-for-profit organisations with an annual turnover of more than $3 million, including private sector health service providers, with an annual turnover of $3 million or less, are required from 28 February 2018 to report any “eligible data breaches” to the Office of the Australian Information Commissioner (OAIC) and any affected, at-risk individuals.
As most Practices are reliant on a small number of practitioners to generate income, it’s worth asking the question:
It’s no secret that technology and innovation is on the rise on a global scale.
This movement has influenced its way through from big business and is heavily impacting the operation of medical practices.