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For pharmacists and pharmacy owners
Reviewed by Panbo Ye, CFP®, FCPA Last reviewed
We help employed, locum and owner pharmacists with the tax, packaging and purchase decisions that come with community and hospital pharmacy.
Your first meeting is at no cost, with no obligation · English or Mandarin
At a glance
| Your first meeting | Free, no obligation. Bring a recent payslip, agreement or report and your last return. We confirm scope and fees in writing before any work starts. |
|---|---|
| What’s included | Tax returns and tax planning, salary packaging, locum set-up, purchase and pharmacy accounts review, and super and insurance advice from our financial planners. |
| Who you’ll work with | A client manager as your single contact, a senior tax manager reviewing your work, and me, Panbo Ye (CFP®, FCPA), leading advice. |
| Fees | Personal tax return with a financial wellbeing check $330; sole-trader schedule from $550; tax planning from $1,500 (+GST). See all fees |
Employed and locum pharmacists
Get the everyday things right.
Public and not-for-profit hospital staff can generally salary package up to a $17,000 grossed-up cap each FBT year. Make sure you are using it.
AHPRA registration, professional association membership, CPD, vaccination and other accreditation courses connected to your role, claimed with proper records.
Travel, accommodation and meals on regional locums, ABN income with no tax withheld, and whether super should be paid. We set it up so tax time is calm.
Owning a pharmacy
Under state laws, community pharmacies are generally owned by pharmacists, and PBS approval follows the Pharmacy Location Rules. A purchase is a big step, usually with significant borrowing. These are the questions we work through with you and your lawyer.
How much profit comes from dispensing and how much from the front of shop? How exposed is it to PBS changes, such as 60-day dispensing, and to the terms of the Eighth Community Pharmacy Agreement?
Stock valuation at settlement, dead stock, stock turn and shrinkage. Small percentages here make a big difference to price and cash flow.
Pharmacist hours, award rates, penalty rates and payroll compliance. Wages are usually the largest controllable cost.
Lease term and options, rent reviews and how a relocation would interact with location rules.
Vaccinations, medication reviews and expanding scope, such as treating some uncomplicated conditions in NSW, add fee-for-service income and new GST questions.
Ownership rules shape which structures are possible. Partnership and shareholder agreements deserve as much care as the purchase price.
Fred Dispense, Z Dispense, Minfos, LOTS, Corum, Fred POS / Z POS, MedAdvisor, Xero / MYOB.
Margins, stock and rosters are familiar ground for our team: our retail work →
How it works
Book online
Tell me whether you are employed, locum or buying in, and I’ll give you a plain-English view. In English or Mandarin, in Chatswood or online. Prefer to talk first? Call 1300 913 929 or 0405 913 913.
Calendar not showing? Open the booking calendar in a new tab → or call 1300 913 929.
Reviewed for accuracy
Panbo Ye, CFP®, FCPA, SMSF Specialist Adviser™ and registered tax agent; founder of Everglow.
Last reviewed:
Rules, rates and thresholds change. Check the source, or talk to us, before acting. This page is general information, not personal advice.
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General information only. This page is general in nature and does not take into account your objectives, financial situation or needs. Rules, rates and Medicare items change; figures are current at the date of publication and should be checked against the ATO, Services Australia, MBS Online and your state revenue office before you act. Everglow is not a law firm: we review the financial, tax and commercial side of agreements and work alongside your lawyer for legal advice. Clinical and coding decisions always remain with the treating practitioner. Tax services are provided by Everglow Accounting Pty Ltd and Kam & Beadman Pty Ltd (liability limited by a scheme approved under Professional Standards Legislation). Financial advice is provided by Everglow Wealth Pty Ltd, Corporate Authorised Representative No. 1254987 of PGW Financial Services Pty Ltd (AFSL 384713).