In this episode of Medicubes, hosts Chris and Kim invite Kelly Chard, founder of GrowthMD, to discuss the complexities of payroll tax for medical practices in Australia. Exploring the challenges practice managers face, provide insights into recent changes, and offer practical advice for navigating this intricate landscape.
Key Points:
- Impact of Payroll Tax: Payroll tax management is a complex issue affecting the longevity of medical practices. They highlight the significance and challenges it poses.
- Importance of Expert Advice: Business owners are encouraged to seek out professional advice to navigate payroll tax intricacies and ensure compliance.
- Payroll Tax Updates: Delving into the specifics of recent payroll tax updates, particularly in New South Wales, including the 12-month pause on audit activity and new bulk billing rebate thresholds.
- Bulk Billing Definition: How bulk billing percentages are calculated and the exemptions applicable before and after September 4th.
- Surcharging Practices: The relevance and challenges of payroll tax surcharging, including different state approaches and software solutions to streamline the process.
- Flow of Funds: Comparison of traditional and new payment approaches to reduce payroll tax exposure, with a focus on the favourable guidelines in Queensland.
Blog link for Showcase:
- https://www.growth-md.com/post/nsw-payroll-tax-relief-for-medical-centres-what-you-need-to-know
Make sure you're subscribed to the podcast so you don't miss an episode, and leave a review on Apple Podcasts or Spotify if you found the discussion valuable. Visit www.medicubes.com.au for previous episodes and more information.
Medicubes is a proud member of the Talking HealthTech Podcast Network - the premier audio destination for cutting-edge insights and thought leadership in healthcare delivery, innovation, digital health, healthcare ICT, and commercialisation. Learn more at www.talkinghealthtech.com/podcast/network.
Mentioned in this episode:
Get Healthengine today!
Healthengine is a proud sponsor of the Medicubes podcast. Our easy-to-integrate, and even easier to use, technology helps boost your digital presence, grow your patient base, maximise your practice efficiency and build deeper relationships with your patients. Learn more
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.