Tax Time 2026 · For Australian doctors

Tax time is the wrong moment to just file a return.

It's the right moment to review the year — see what your income did, what your structure caught and what it missed, and decide what to change before the next twelve months compound the same outcome.

For doctors lodging FY2025–26 returns. Time-sensitive — slots fill quickly between June and September.

The opportunity most doctors miss

Most doctors walk in for a tax return. They walk out with no review.

For most doctors, June 30 to October 31 is a five-month window where every important piece of their financial life is sitting on one set of documents — the tax return. And almost none of them use that moment to do anything other than lodge it.

01

Generalist accountants are time-pressed

Between June and October, a generalist firm processes hundreds of returns. There's no time for strategic review. Each return becomes a transaction, not a conversation.

02

Doctors don't know what to ask

After eighty-hour weeks, the priority is to lodge, get the refund (or pay the bill), and move on. Asking "what could we have done differently?" requires energy most doctors don't have in October.

03

Nobody coordinates across advisers

The accountant sees the tax data. The financial planner sees the super. The broker sees the loans. The tax return is the only document that connects them — and nobody is reading it for that connection.

What we look at

An EOFY review uses your tax return as a diagnostic. Not just a submission.

When we sit down with a doctor in July, August or September, the conversation isn't about lodgement. The lodgement is the easy part. The conversation is about twelve questions a tax return implicitly answers — and what your specific answers reveal about the year you just had and the year ahead.

01

Did your business structure match your income?

A specialist on $500,000 of taxable income lodging as a sole trader is paying more tax than the structure justifies. The return shows whether your structure caught the income efficiently or not.

02

Did your concessional super cap get used efficiently?

Most doctors above $250,000 of income should be making maximum concessional contributions. The return reveals whether you did — and whether your unused carry-forward cap was deployed.

03

Did Division 293 hit you, and was it managed?

Above $250,000 of total income, an extra 15% applies to super contributions. Many doctors pay it without knowing strategies exist to time and manage the impact.

04

Was your investment property cash flow optimised?

Depreciation schedule applied? Interest deductibility correctly claimed? Repairs vs improvements correctly categorised? Each variable affects the after-tax weekly position.

05

Was debt recycled into deductible structures?

Cash sitting in offset accounts earning nothing while non-deductible home loan debt accrues is a missed opportunity that compounds over decades. The return shows the cash flow picture.

06

Did your service trust operate compliantly?

If you have a service trust, did it operate within ATO PCG safe-harbour ranges? Were distributions documented? Substance matches form — or doesn't?

07

Were medico deductions captured fully?

Indemnity insurance, college fees, AHPRA, journals, CPD, home office, travel between worksites. Most doctors capture some. Few capture all.

08

What did capital gains look like, and could timing improve next year?

Selling an investment in June vs July can change the tax treatment materially. The return shows what happened. The review asks what should happen next.

09

Were spouse and family beneficiary positions optimised?

Spouse super splitting, distributions to family trusts, family beneficiaries used efficiently — or not — visible in the year-end picture.

10

Was your insurance cost-effective relative to actual exposure?

Income protection premiums claimed correctly? Life and TPD inside super vs outside super? Stepped vs level — locked in at the right age?

11

Did your loan structure support the strategy?

Interest-only periods, offset balances, fixed vs variable proportions, cross-collateralisation. The return reveals the cash flow consequences.

12

What's the projection for the year ahead?

Last year is closed. The next twelve months are the lever. What changes — structure, contributions, debt, property — would change the picture twelve months from now?

Why doctors choose MNM at tax time

We don't process returns. We review years.

A generalist accounting firm wants to push your return through the lodgement queue and get paid for the return. We've spent two decades doing something different: using the tax return as the start of the conversation, not the end of it.

What's included
  • · Full review of last year's position
  • · Structure assessment vs income trajectory
  • · Deduction completeness check
  • · Super, Division 293, carry-forward review
  • · Twelve-month forward projection
Who it's for
  • · Specialists in private practice
  • · Specialists on hospital + private mix
  • · Doctors with investment property
  • · Doctors above $250k income
  • · Doctors with service trusts already in place
How it works
  • · 15-minute initial call (free, no obligation)
  • · If we proceed: agreed fee, transparent
  • · Review covers tax + finance + structure
  • · You walk away with an action list
  • · Lodgement included if engaged formally
Free download

The Doctor's EOFY Diagnostic.

A free PDF guide with the 12 questions above, plus a year-on-year comparison framework and an action list template. Use it with your current accountant, or as the brief for our conversation.

Get the PDF (free) →
Free · 15 minutes · No obligation

Book your EOFY review consultation.

Bring last year's tax return. We'll show you what it reveals about the year — and what changes would change the picture twelve months from now.

Book the 15-min call +61 2 8226 8683

EOFY review slots fill between June and September. Earlier bookings have more time to action changes before lodgement.

General Advice Warning. The information on this page is general information only and does not take into account your personal objectives, financial situation, or needs. Before making any financial, tax, credit, or property decision, consider whether the information is appropriate for you having regard to your own circumstances, and seek personal advice from a qualified adviser. Tax outcomes depend on individual circumstances and current tax law. Tax law changes; settings referenced reflect FY2025–26 as understood at the time of publication. Examples and figures are illustrative only — individual outcomes vary materially.