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| At
all stages, doctors placed through
IMR, will remain employees of the
hospitals or clinics they work
for.
Salaries
in Australia vary slightly from
state to state but each state's
Government fixes all doctors'
salaries. Here are approximate
figures for basic salaries in
Australia. After overtime and
on-call work these salaries will
be approximately 15-25% higher.
| Seniority |
Approximate
Basic Salary (Australian
$) |
Estimated
Salary after average
overtime (Australian
$) |
Grossed
up pay with salary
packaging (Australian
$) |
| Intern |
45,000 |
50,000 |
55,000 |
| Resident/
SHO |
55
- 70,000 |
65
- 80,000 |
70
- 85,000 |
| Registrar |
70
- 80,000 |
80
- 90,000 |
88
- 98,000 |
| Consultant
(Specialist) |
115
- 200,000 |
130
- 220,000 |
145
- 240,000 |
1
Australian$ = 0.7 US $ (USA)
1 Australian$ = 0.4 UK £ (UK)
1 Australian$ = 5.5 ZAR (South
Africa)
1 Australian$ = 0.9 CAD (Canada)
1 Australian$ = 0.6 Euro (EU)
These
are all approximate figures and in
actual fact, the more hours you
choose to work, the more you will
earn. Basic salary assumes a
working week of 38 hours -
anything after this will be paid
at penalty rates (usually
double-pay), so for those looking
to increase their salary the
option of working extra hours
(which is commonly available at
many hospitals) can substantially
increase your income.
Salary
Packaging is a tax minimisation
strategy available to all public
hospital employees in Australia.
It allows you to access up to 30%
of your income as tax-free
depending on the hospital you work
in. This is a system used by
almost all hospital employees to
substantially increase your take
home salary and further
information will be available at
your hospital finance department.
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Tax
Rates in Australia
|
|
All public hospital employees can
access up to the first 30% of
their income as tax-free through
salary packaging, the remaining
70% will be taxable. Here are the
rates of tax for residents in
Australia for the remaining salary
after salary packaging:
| Taxable
Income (Australian$) |
Tax
Payable
(Australian$) |
| |
|
| 0
- 6,000 |
Nil |
| 6,001
- 25,000 |
Nil
+15% of excess over $6,000 |
| 25,001
- 75,000 |
$2,850
+ 30% of excess over
$25,000 |
| 75,001
- 150,000 |
$17850
+ 40% of excess over
$75000 |
| 150,000+ |
$47,850
+ 45% of excess over
$150,000 |
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Salary
Packaging
|
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Salary packaging is a tax-minimisation
system allowing all hospital
employees in Australia to receive
up to 30% of their salary
tax-free. The basis of this is
that hospital employees are exempt
from 'Fringe Benefits Tax'. This
is normally a tax on all rewards
given to employees which do not
form the cash component of their
salary e.g. company car etc. Due
to this special exemption for
public hospital employees, there
is the opportunity to 'sacrifice'
some of your salary and receive it
as fringe benefits, which is free
from all forms of tax (including
income tax).
The way this works in practice is
that you designate a proportion of
your income (up to a maximum of
30% of total salary in many
hospitals) that is to be set aside
for expenses including your
household mortgage or rent, petrol
expenses, household utility bills,
computers, holiday travel, eating
out at restaurants. On showing the
receipts for these items, you can
receive your income to the value
of these receipts free of tax.
Most
doctors try to package the maximum
amount and so receive a
significant proportion of their
income tax-free resulting in
reducing their taxable income
substantially. On arrival in
hospital, you should contact your
hospital immediately and ask for
further details about salary
packaging as it can save you a lot
of money.
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Other
Benefits
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In addition to salary packaging,
most hospitals will give all
doctors working in Australia the
following benefits:
1.
Sick Leave - up to 10 paid days
per year
2. Annual Leave - up to 5 weeks
paid leave per year
3. Superannuation (pension) - all
doctors working in Australia
receive superannuation payments to
the value of 9% of their salary
(This is paid in addition to your
salary and is not deducted from
it.) All doctors who work
temporarily in Australia may cash
their superannuation earned when
they leave to return to their home
country.
4. Many hospitals will also
provide subsidised meals, free or
cheap accommodation and other
perks.
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