Strategic Tax & Financial Management for Surgeons & Specialist Practitioners.

Why Surgeons Require Specialist Accounting

As a surgeon, your financial landscape is uniquely complex. Between managing private theatre lists, public hospital appointments, and the high overheads of a private suite, "standard" accounting doesn't cut it. At Santoro & Co, we specialise in the intricate tax laws and business structures that apply specifically to surgical specialists in Australia.

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How we can help you

The "Success Tax" Trap

The Challenge: As a high-income earner, you are likely sitting in the top marginal tax bracket, seeing nearly half of your hard-earned surgical fees go straight to the ATO. Without a proactive strategy, you’re overpaying every June.

The Santoro & Co Solution: We implement Advanced Tax Structuring. By utilizing discretionary trusts, corporate beneficiaries, or service entities, we legally distribute income and maximise deductions for high-value surgical equipment, ensuring you keep more of your professional earnings.

The Payroll Tax & "Service Fee" Risk

The Challenge: Recent landmark court cases (like Thomas & Naaz) have changed how the ATO looks at medical clinics. If your service agreements and banking flows aren't set up perfectly, you could be hit with massive, backdated payroll tax bills on your gross billings.

The Santoro & Co Solution: We provide a Compliance & Agreement Audit. We work with your legal team to ensure your flow of funds—from the patient to the clinic to you—is structured to mitigate payroll tax risk and adhere to the latest state revenue office interpretations.

Asset Exposure & Private Practice Liability

The Challenge: Surgeons face a higher-than-average risk of litigation. If your personal assets (like your family home) are held in your own name, they could be at risk in the event of a catastrophic professional or business claim that exceeds your insurance limits.

The Santoro & Co Solutions: We focus on Asset Protection. We ensure your business is separated from your personal wealth. By holding assets in "low-risk" names or protected entities, we create a firewall between your surgical practice and your family’s financial future.

Tax Deductions for Surgeons

Common Deductions We Claim for Surgeons

  • Professional Memberships: RACS, AHPRA, and specialty-specific societies (e.g., ASOHNS, USANZ).

  • Professional Development: Domestic and international surgical congresses, travel, and accommodation.

  • Continuing Education: Advanced surgical skills training and clinical workshops.

  • Home Office & Admin: For the time spent on patient notes and research away from the clinic.

Testimonials

  • The team are always helpful and happy to answer any questions or issues we have. I wouldn't go anywhere else for our accounting needs as these guys do it all and do it well.

    Vince S.

  • My name is Tony I am a director of two companies . I engaged Santoro & Co 15 years ago to manage my financial affairs , superannuation and tax reporting. I have been in business for more than 40 years and have experience with other accounting firms. Santoro & Co have been exceptional in their accounting practices . They are client focused , competent , efficient and very nice to to work with. I am very confident and more than happy to recommend Santoro & Co as an accounting practice .

    Tony S.

  • I have been with Santoro & Co for 20 years since then I was very happy with the services, tax returns and the professional advice when I need it. Thank to Mario ,the management and Simon for the assistance and for everything and I strongly recommend them for tax management .

    Dr Mohsen G.

  • We moved to Santoro & Co some years ago to have them manage our personal tax and our SMSF. It turns out to have been a very wise decision. Santoro & Co have always managed our financial affairs in a timely and professional manner and we would have no hesitation in recommending them to others.

    David C.

  • Reliable, timely and professional service.

    Adriana G.

  • I have been a client of Santoro and Co for decades and have always found them to be consistently attentive to my questions and information that I require. In recent years when I have a private financial advisor, the transfer if information between them has been seamless. The accountant who looks after me, Simon Grieco, is a great example of the provider of the kind of service that I have come to rely on.

    Dr Carmella L.

  • I would like to express my appreciation to Santoro & co for their team in providing us with an excellent level of service in the past eleven years. The staff at Santoro are always helpful to us especially, Mario & Simon Grieco. I would like to compliment all their staff for their professionalism and assisting us in a timely manner . I would not hesitate to recommend Santoro & Co to anyone who wants their accounts done professionally.

    Arsenios L.

  • My wife and I have been dealing with Simon and Santoro & Co for over 7 Years. We have always been impressed by the level of expertise,professionalism and efficiency in their response time. We have in the past and will always refer family and friends to Simon and Santoro & Co for their accounting needs.

    Stefano & Carla M.

  • Fast, reliable and honest service from the team at Santoro & Co

    Victoria S.

  • Very much valued Simon’s assistance and insight for personal tax matters. No question was too simple or difficult for him and he balances professionalism with having your best interests at heart. Would recommend Simon and the team at Santoro & Co.

    Luca C.

  • Santoro & Co have been fantastic with helping us set up our business structure and helping us with our yearly taxes. Simon has explained our tax obligations as we have started our own small business and transitioning from sole trader to a company. Communication was great, Simon responded very quickly and was available and happy to answer any of our questions. Highly recommend!

    Daniel & Linda L.

  • Simon is fantastic, always available to help us and answer any questions when needed! Extremely helpful and nothing is a problem. Highly recommend.

    Karly & Brad S.

  • I have been dealing with Simon from Santoro & Co for the past 5 years. Simon is very thorough, pro-active and all in all, great to deal with.

    Vince I.

  • Santoro & Co have been looking after my business and private accounting affairs for a number of years now. The staff in general are most polite and caring. Mario and Simon in particular have always been responsive to my requests and available to assist with all my accounting needs whether it be matters concerning my accounts, staff, tax and even assisting me with my lending needs. They care about their clients and provide guidance and advice when required. I would have no hesitation in recommending them.

    Rosa P.

  • Simon Greico has been looking after our personal finances for many years now. He is efficient, reliable, and is always there to answer any questions we have with the utmost professionalism. We will continue to recommend Simon and Santoro & Co.

    Adriana & Frank P.

  • Simon and the Santoro & Co team have been invaluable in helping to set up and run our business’ accounting needs. We have absolute peace of mind knowing that our bookkeeping, payroll and taxation is taken care of by Simon and the team, which allows us to spend more time working on the business. We highly recommend the Santoro & Co team and their services.

    Domenic & Sara R

  • Simon has been looking after my personal and business taxes for the past 4 years. In this time, he has been extremely responsive, honest and thorough with every question I have asked and any document I’ve given him to review. I highly recommend Simon and his services.

    Sebastian P.

Frequently Asked Questions

Still have questions? Take a look at the FAQ or reach out anytime.

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  • As a surgeon, your highest deductions typically include Professional Indemnity Insurance (MIPS/Avant), RACS membership fees, and Continuing Professional Development (CPD). You can also claim specialized theatre equipment (like loupes), medical journals, and travel expenses between multiple private and public hospitals. At Santoro & Co, we ensure every piece of surgical tech and professional expense is accounted for to maximize your refund.

  • Recent rulings mean that if your practice collects fees on behalf of other doctors and then pays them out, you could be liable for payroll tax on those gross billings. For surgeons working in shared suites, it is critical to review your service agreements and bank "flow of funds." We help you restructure these flows to remain compliant with the latest State Revenue Office (SRO) interpretations.

  • For most specialist surgeons, a Service Trust or Company structure is superior to being a Sole Trader. These structures provide vital asset protection—separating your personal wealth from your professional liability—and allow for more flexible income distribution. We analyze your specific billings to determine the most tax-efficient structure for your private practice.

  • Yes, provided the conference is directly related to your current specialty. You can generally claim the registration fees, airfares, and accommodation. However, if you add a personal holiday to the trip, the costs must be apportioned. We provide clear guidance on how to document these trips so they pass an ATO audit.

  • Many surgeons utilise an SMSF to gain greater control over their retirement wealth, often using the fund to purchase their own clinical consulting suites. This can be a highly tax-effective strategy (negative gearing in a low-tax environment). We specialize in the administration and compliance required to make an SMSF work for high-net-worth medical professionals.