Tax Deductions for General Practitioners
Average weekly pay: $1,850
Employment size: 67,300
Future growth: Very Strong
Skill level Bachelor Degree or Higher
A general practitioner (also called a GP) is a physician who is a generalist and doesn’t specialise in one particular area of medicine.
- Conducting examinations, questioning patients, and ordering medical tests to determine the nature of illnesses and disease.
- Providing overall care for patients, prescribing and administering treatments/medications, and monitoring patients’ progress and response to treatment.
- Advising on diet, exercise and other habits which aid prevention and treatment of illnesses and disease.
- Referring patients to, and exchanging medical information with specialist Medical Practitioners, and arranging the admission of patients to hospitals.
Typical tax deductions include:
- Travel expenses associated with attending medical conferences, seminars, and training courses. Expenses include airfares, accommodation, meals, and incidentals.
- Motor vehicle expenses for travel between hospitals, clinics, and visiting patients.
- Phone, internet and home office expenses (less private portion).
- Self-education courses.
- Magazines, books and journals related to health and medicine.
- Medical defence and income protection insurance.
- Equipment including briefcases, handbags, iPad, laptop, stethoscope, etc. Items costing more than $300 each need to be depreciated over their effective life.
- Medical registration fees and membership fees such as AMA, RACS, RACGP, RACP, etc.
None deductible expenses:
- Travel for industry functions which includes entertainment, e.g. three-course meal, band, and alcoholic drinks.
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2