For doctors and medical professionals, income is often complex. It can come from hospital work, private practice, consulting, locum shifts, or investments. Without the right structure, that income can attract higher tax, create unnecessary risk, or become difficult to manage. Income structuring and tax planning ensures your earnings are channelled in the most efficient way, helping you keep more of what you make while staying compliant with the ATO.

Doctors frequently pay more tax than they need to, simply because income is not organised strategically. Working as a sole trader might feel simple, but it often results in higher tax bills and personal exposure to risk. By using the right mix of companies, trusts, and superannuation contributions, income can be managed more effectively, reducing tax and protecting personal assets.

Tax planning is not just about deductions. While claiming legitimate expenses is important, the bigger opportunity lies in aligning income with your financial strategy. This might involve splitting income with a spouse through a trust, making concessional contributions to superannuation, or restructuring practice ownership. Timing also matters, as certain strategies can shift income between financial years to create further savings.

The key is to be proactive. Waiting until tax time is too late. Doctors benefit most from regular reviews throughout the year, ensuring that every decision — from taking on new work to expanding a practice — is structured with tax outcomes in mind.

When income is structured properly and tax is planned strategically, doctors enjoy lower liabilities, stronger asset protection, and more confidence about their financial future.