William Buck Australia
As a fully integrated firm of Chartered Accountants and advisors, William Buck provides a complete solution. Putting you at the core of the business, our advisors work together to ensure that careful consideration is given to your business and personal wealth affairs.
Working closely with you and your team, our Business Advisors can help you plan and implement contemporary business strategies and practices to meet your business’s full potential.
Our commercially minded tax specialists offer clear, responsive advice to manage your tax risk, address local and international issues, and develop strategies to optimise your tax position.
Our audit team has extensive experience in a range of engagements, giving stakeholders independent and objective assurance on financial information, transactions and processes.
Our Corporate Advisory team provides objective, strategic and commercial advice across a broad range of business issues. Our work spans the breadth each engagement from the origination of ideas to managing the transaction process, valuation and structuring.
Our highly experienced team of liquidators and trustees use their extensive expertise to assist in times of financial distress, achieving the best outcome for all stakeholders.
By understanding not only what you want to achieve but why it’s important, our wealth advisors can create strategies attuned to your key priorities. The end result is a plan focused on your life goals.
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William Buck has a team of professionals with specialist experience and know-how on a range of industry sectors.
Our advisors understand the risks and opportunities unique to the agribusiness sector. Taking a strategic view of your operations they provide relevant guidance and advice.
Assisting public and private schools, vocational colleges, universities and private training providers, our education specialists provide timely and valuable assurance services together with strategic, financial and management advice.
Our Government and public sector team has substantial experience in assisting all levels of government to review their structures and develop strategies, in line with relevant legislative requirements and accounting and audit standards.
Working with over 1,600 clients in the health sector, our advisors help practitioners and health care corporates achieve their business and personal goals
Our hospitality and tourism team has a working knowledge of the industry which, when combined with our technical knowledge, can assist you in reaching your commercial goals.
By staying on top of changes in the manufacturing sector, our industry experts provide relevant and timely guidance to a broad range of manufacturing business.
Our mining and energy team has the experience and resources to help start-ups, developing businesses and well-established companies to meet their commercial goals.
Integrity and transparency are at the heart of the best Not for Profit organisations. These values re shared by our dedicated Not for Profit team, which helps entities to establish to improve performance and develop strategies for long-term growth.
Our advisors understand the challenges and opportunities facing the professional services sector first hand. This experience together with our expertise helps to determine your strategic objectives and provide concise, relevant advice to help you achieve your goals.
Our property and construction team assist on a wide range of assignments from property development to construction and large infrastructure projects. Their diverse experience, technical expertise and commercial know-how to help you tackle the important issues.
Our retail and wholesale team works with a variety of businesses from family owned operations to franchises and larger chains, to provide advice and guidance on the issues that count.
Our transport and distribution team works with businesses to review their operations, improve efficiency and productivity and ensure compliance with the latest regulatory developments.
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We work with individuals, businesses and community organisations with a particular focus on the mid-market. Drawing on our extensive experience, our advisors will challenge your thinking and re-frame problems to understand their root-cause.
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It has been common over many years for medical practices to engage practitioners on a contracting basis. If the correct arrangements are not put in place it can increase the likelihood that contracting arrangements may subject practices to statutory leave entitlements; payroll tax; WorkCover and superannuation regardless of the agreement in place between the medical centre and the practising doctor.
There are two common methods generally employed under which a contracting arrangement is put in place.
This is by far the most common model currently utilised. Under this model, the service arrangement between the medical centre and the doctor is drafted in such a way that the doctor appoints the medical centre as their agent for the collection of their patient fees. The medical centre then charges the doctor a fee for this service and adds GST to the service fee charged.
From a cash flow perspective, the patient fees are collected by the medical centre on behalf of the doctor and then disbursed to them, after deducting the service fee amount.
As the doctor is paying a fee to the medical centre for services, and at no time is engaged by the medical centre to perform work for it, there is no opportunity for a deemed employer/employee relationship.
Historically this model was popular because it was easy to understand and slightly easier to document when it came to the service agreement.
Under this model the doctor contracts their services to the medical centre for an agreed rate or percentage of patient fees generated. As the doctor is contracting with an entity, and not the end patient for their services, they are required to charge GST for this service.
From a cash flow perspective, the medical centre collects all patient fees and then determines the payment due to the doctor, adds 10% GST and then makes the payment.
There are a number of issues with regards to the Contractor/Locum Model which have made it increasingly unpopular. Where the doctor is contracting as an individual, the payments under this model will most likely be subject to;
This is the case even if the contractor is operating through a company or trust.
In more recent years there have been a few cases which has reinforced the issues further. The main developments from these cases is that the Court decided that as employees, the contractors were entitled to statutory annual leave and sick leave. This overrides any private agreement where it may have been stated to the contrary.
It is now even more likely that Locum Contracting arrangements will be subject to;
If you are currently utilising a contractor arrangement, the upside is that the change to an Associateship Model is relatively easy to implement. The adoption of an updated service agreement and some minor changes to your bookkeeping in relation to the recording of income and service fees, will ensure that any audit activity in this area does not impact on your practice.
If you are concerned about your contractor arrangements and the impact upon your medical practice, please contact your local William Buck advisor.
Disclaimer: The contents of this article are in the nature of general comments only, and are not to be used, relied or acted upon without seeking further professional advice. William Buck accepts no liability for errors or omissions, or for any loss or damage suffered as a result of any person acting without such advice. Liability limited by a scheme approved under Professional Standards Legislation. This information is current as at 14th June 2016