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PSB or PSI for Surgeon

Discussion in 'Accounting, Tax & Legal' started by shanno, 12th Oct, 2009.

  1. shanno

    shanno New Member

    Joined:
    12th Oct, 2009
    Posts:
    2
    Location:
    Adelaide
    Hi,
    My husband is a surgeon who does both public and private work. His income comes from various streams and places. Our accountant advised us that he should just practice as a solo practitioner (no business) but I am not 100% convinced. He will be in the max tax bracket this year. Would he benefit from setting up a business (and pay 30% tax rather than max). Would it be considered PSB or PSI?

    Thanks
     
  2. Rob G.

    Rob G. Well-Known Member

    Joined:
    6th Jun, 2007
    Posts:
    717
    Location:
    Melbourne, VIC
    Don't know nearly enough facts to comment.

    BUT the ATO is very sensitive to medical practitioners operating service trusts for income splitting.

    It still can't hurt to get a second opinion from an Accountant who specialises in the area of medical practices.

    Cheers,

    Rob