General practice tool kit

Becoming an owner of a general practice

Your obligations as a business owner

Last revised: 24 Oct 2019

What you need to know

As a practice owner, you must understand and adhere to all relevant laws in your jurisdiction. Appointing a knowledgeable and experienced practice manager can help you achieve this. 

The following list of obligations contain links to sites that give you more information about each one.

In addition to the obligations listed above, practices are required to keep a range of clinical and business records. You need to know which records you need to keep and for how long (which may extend beyond the life of your business).

Specific requirements depend on the organisation that is using the information, and may change over time. Always seek professional advice if you are unsure of your obligations.

The following table outlines where you can access information and advice about specific record-keeping requirements.

Type of records

For further information, contact

Financial records

Australian Securities and Investment Commission (ASIC)

Income, expenses and tax returns

Australian Taxation Office (ATO)

Employee records

Fair Work Ombudsman

 Useful resources

Many services and organisations can provide support, guidance and training to help you to plan and establish your business, and to understand and meet your obligations as a business owner.

This event attracts CPD points and can be self recorded

Did you know you can now log your CPD with a click of a button?

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