Accountants for professionals Melbourne

PROFESSIONS IN AUSTRALIA

Professional services, including scientific and technical services, make up 12% of all small businesses in Victoria. Additionally, many thousands of professionals are employed or contracted by government and private enterprise organisations.

While there are many different occupations categorised as “professional”, the types of work-related expenses, allowances, and deductions available to professionals can vary widely between the professions, depending on factors including industry conditions and how the professional income is being generated.

Tax deductions are definitely not the only area where professionals can benefit from the advice of a specialist accountant, however.

Self-employed professionals and the owners of incorporated professional service businesses sometimes need advice on business structuring, or the establishment of a trust or SMSF. Even for employed professionals, the generation of income can be optimised through effective salary packaging, superannuation contributions, novated leases on vehicles, mortgage payments bundled into a salary-sacrifice arrangement, and more.