The ATO has reiterated its concerns around lump sum payments made to those who operate in the healthcare or medical industry. The ATO has noted a number of arrangements in the healthcare services industry where a lump sum payment is received and treated as a capital gain rather than ordinary income.
The ATO view is that generally these lump sum payments are not capital receipts but are ordinary income because they relate to the provision of services through the healthcare centre. The result is that practitioners are required to include the full amount of the lump sum payment in their assessable income.
…To find out more about the substance of the arrangement and its after-tax outcome…please come and talk to Tax Ideas Accountants & Advisers…https://taxideas.com.au/booking/
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