Tax tips for Medical Transcriptionists

A Medical Transcriptionists (MT) who works online from home is usually classified as an independent contractor. When tax time rolls around, independent contractors can claim a number of deductions related to the cost of doing business.  As this can be a new experience for many MT’s, we have listed some great ways to make the most of your tax return.

Keep your receipts – all of them.

Keeping all of your receipts will be useful when filing your taxes. There are a number of apps available to help keep track of your receipts, expenses and tax obligations (such as Pocketbook).

When it comes to working from home you should be keeping track of every deduction you’re legally entitled to. Every deduction you don’t take advantage of could end up costing you over the course of the year.

Think big

Are there expenses that you incurred due to your work? You may be eligible to claim these expenses as work costs. For a Medical Transcriptionist working from home, you may be entitled to deductions on your internet, electricity and latest computer purchase. You don’t want to think too creatively with these, but at the same time, don’t limit what you may be entitled to. Only deduct expenses that can truly and logically be applied to your work.

 Work out what you can claim

The home office expenses calculator developed by the Australian Tax Office (ATO) could be a useful tool to help you calculate the amount you might be able to claim as a tax deduction for home office expenses. This tool is designed to assist people working from home and may not cover all considerations.

Working as an Independent contractor for an overseas company

There are a number of specific rules that apply in the instance of services used outside of Australia. Working as a Medical Transcriptionist within Australia for an overseas company means that your services do not include Goods and Services Tax (GST). Generally, a supply of a service is GST-free if the recipient of the service is outside Australia and the use of the service is outside Australia.

Get an ABN

An ABN (Australian Business Number) is a unique 11-digit identification number that identifies yourself as an independent contractor to the Australian government and community. To apply for an ABN, you may do so here. The application process is quick and easy!

Hopefully this has helped you understand some of your tax considerations as an independent contractor. If there is anything you are unsure about, there are a number of great tools developed by the Australian Tax Office that may be of assistance for Independent Contractors. Please note, these tools are to assist with areas that you may be able to claim on. If there is anything you are unsure of, please contact a tax accountant.

Get qualified as a Medical Transcriptionist

If you are interested in learning more about TalentMed’s Diploma of Healthcare Documentation and how you can begin your career as a Medical Transcriptionist, please contact our Career Advisers today on 1300 737 781.

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About the Author:

Lauren Day


  1. april 02/01/2017 at 6:55 PM - Reply

    Hi. I’m interested in studing your course can i tke longer then 12 moths to finish it? As i currently work full time..
    Aslo how does the wages/pay work once you do get employed and is it easy to get employed?

  2. Nasi 24/08/2016 at 6:06 PM - Reply

    Hi I am interested in your course .I want to know about how much time does it take to complete whole coursr

    • Lauren Day
      TalentMed 25/08/2016 at 9:39 AM

      Hi Nasi,

      Thank you for your comment.

      TalentMed’s Diploma of Healthcare Documentation has a 12 month duration, however can be completed online in as little as four to six months.
      For more information, please contact one of our Career Advisers on 1300 737 781 or via Thanks!

  3. Afro 11/08/2016 at 9:24 PM - Reply

    I’m interested in your course. Could someone please call me I have several questions.

    • Lauren Day
      TalentMed 12/08/2016 at 12:58 PM

      Hi Afro,

      Thank you for your comment. One of our Career Advisers will reach out to you today.
      Please feel free to contact them on 1300 737 781 if you have any questions. Thanks Afro!

  4. Lisa 02/08/2016 at 2:32 PM - Reply

    How do I find out if I am eligible for the Gov. funding for this course

    • Lauren Day
      TalentMed 03/08/2016 at 10:40 AM

      Hi Lisa,

      Thank you for your comment.
      There are a few eligibility criteria for Government funding. One of our Career Advisers can certainly assist to determine if you are eligible for the funding. Please contact them on 1300 737 781 or via

  5. Nesli 29/07/2016 at 10:00 PM - Reply

    How much does the course cost and can I study online part time ?

    • Lauren Day
      TalentMed 01/08/2016 at 10:35 AM

      Hi Nesli,

      Thank you for your comment.
      You may be eligible for government funding or Centrelink assistance. You may find our Statement of Fees here under the tuition tab. Our Diploma of Healthcare Documentation is entirely online and self paced so you may study anytime you choose.

      If you would like any further information, please contact our Career Advisers on 1300 737 781 or via

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