With the financial year ending 30 June, there are a handful of actions doctors and allied health professionals can take right now to reduce their tax bill and get records in order.
Key Takeaways
- Top up concessional super contributions before 30 June to reduce taxable income, and check for unused carry-forward cap amounts from prior years.
- Under-claimed deductions are common: AHPRA registration, CPD, medical indemnity, clinical subscriptions, and home office all count.
- Investment property owners should confirm a depreciation schedule exists, particularly for properties built after 1987.
- Trusts and company structures need year-end resolutions documented in writing before 30 June.
- Organising receipts and statements now saves accountant fees and speeds up your return.
With the financial year ending 30 June, there are a handful of actions doctors and allied health professionals can take right now to reduce their tax bill and get records in order. This checklist covers the most common wins, from super top-ups to deduction documentation.
Top Up Concessional Contributions Before 30 June
If you haven't hit the $30,000 concessional cap for 2025-26, salary sacrificing or making a personal deductible contribution before 30 June can meaningfully reduce your taxable income.
For a doctor earning $250,000, an extra $10,000 into super saves roughly $3,700 in income tax. You'll need to lodge a Notice of Intent to Claim a Deduction with your fund before filing your return.
Also check whether you have unused caps from prior years. The carry-forward rule lets you apply unused concessional amounts from up to five previous years, provided your super balance was below $500,000 at 30 June last year. For doctors who spent time overseas or working part-time, this can open up significantly more than the standard annual cap.
Claim What You're Actually Entitled To
Doctors regularly under-claim work-related deductions. The ATO allows claims for expenses directly tied to earning your income, and medical professionals have a surprisingly broad list of eligible items.
Common legitimate deductions include: AHPRA registration, CPD courses and conferences, medical indemnity insurance, clinical subscriptions (UpToDate, AMPCo, journals), work-specific uniforms including scrubs, and home office costs for telehealth consultations or clinical admin done from home.
Keep receipts and link each expense clearly to your work. A shared Google Drive folder or a tool like Hubdoc takes ten minutes to set up and saves hours come August.
Review Investment Property Positions
If you own investment property, reconcile rental income and expenses before year end. Interest on the investment loan, council rates, property management fees, repairs, and depreciation are all deductible.
Depreciation is the most commonly missed item. If you own a property built after 1987 and haven't commissioned a quantity surveyor report, it's worth doing before your accountant lodges. It often adds thousands of dollars in deductions for no additional cost upfront.
For a detailed breakdown of how negative gearing and investment property tax works for doctors, the tax guide for Australian doctors covers it in full.
Reconcile Your Business Structure
If you operate through a company or trust, June is the time to reconcile distributions and make sure any trust resolutions are in writing before year end. Undocumented distributions attract ATO scrutiny and carry significant cost if left unaddressed.
For locums and contractors billing through a company, check whether outstanding super obligations have been paid. The ATO cross-references Single Touch Payroll data against super fund records, and unpaid super triggers the Superannuation Guarantee Charge, which is not deductible.
If you're planning a significant equipment or technology purchase, buying before 30 June lets you claim the deduction this financial year rather than waiting until next.
Key Takeaways
- Top up concessional super contributions before 30 June to reduce taxable income, and check for unused carry-forward cap amounts from prior years.
- Under-claimed deductions are common: AHPRA registration, CPD, medical indemnity, clinical subscriptions, and home office all count.
- Investment property owners should confirm a depreciation schedule exists, particularly for properties built after 1987.
- Trusts and company structures need year-end resolutions documented in writing before 30 June.
- Organising receipts and statements now saves accountant fees and speeds up your return.
Make the Most of This Financial Year
Voyage Financial works with Australian doctors and healthcare professionals to structure their finances before and after 30 June. If you'd like a conversation about your tax position, book a call with the team.
General Advice Warning: The information in this article is general in nature and does not take into account your individual circumstances, financial situation, or goals. It was accurate at the time of publication and may not reflect current market conditions or legislation. This article should not be relied upon as a substitute for professional financial, legal, or tax advice. Always seek guidance from a licensed adviser before making financial decisions. Where information from third-party sources is referenced, it has been sourced from reputable outlets in good faith, but Voyage Financial cannot guarantee its ongoing accuracy.
