$100 million payroll tax threat: Rewriting GP contracts ‘not a guaranteed fix’
Tax adviser Paul Copeland says restructuring is not an option for all practices.
At the RACGP practice owners’ conference this year, a snap poll found about one-sixth of 300 GPs were restructuring their practice financially due to the payroll tax threat.
Based on financial advice, the practices aimed to ensure GPs were deemed contractors rather than employees if revenue collectors knocked.
Then, this week, Queensland Treasurer Cameron Dick said he could predict how much payroll tax revenue would land in state coffers when the state’s payroll tax amnesty for GP practices ended in 2025.
A cool $100 million a year.
