Our People


Peter Nicol specialises in guiding the financial success of local medical practitioners and professionals from his years of experience and distinct, expert knowledge.

As a Director of the Business Advisory division in Albury, Peter is a reputable and dedicated business adviser, who provides his clients with considered and strategic guidance to help them achieve their financial and business aspirations in the Riverina-Murray regions.

Peter is the National Director of Medical Services , drawing together the collective experience of over 90 years in practice around Australia and creating financial independence for medical specialists. Peter and the national specialist team deliver services in practice management, business advisory, tax planning, superannuation and planning for retirement.

"Although each client's situation is unique, I believe the same amount of care and attention is required to deliver the best outcomes for every one of them."

Peter also has significant experience in advising and administering self-managed superannuation funds (SMSFs) for general practitioners, specialists, dentists and pharmacists. He is regularly consulted on using tax-effective superannuation strategies as part of the overall planning process to borrow to purchase own rooms/premises, repay debt faster with super funds and, create and protect wealth.

Peter Nicol is a Partner of RSM Australia Partners and a Director of RSM Australia Pty Ltd.

Solutions Peter provides basic-illustrations-36-healthcare-300px.png

  • Practice establishment
  • Practice health check
  • Practice CFO services
  • Practice management reports
  • Wealth growth and management

Significant projects

Peter has provided advice on the development and acquisition of new premises for a network of medical professionals. He has also provided retirement planning advice in relation to superannuation to senior medical specialists.

Professional associations

  • Member, Chartered Accountants Australia and New Zealand
  • SMSF Professionals Association of Australia


  • Bachelor of Business - Accounting (Edith Cowan University)
  • Masters of Taxation (University of New South Wales)
  • SPAA Certified Specialist Adviser
  • Fellow, Tax Institute of Australia
  • Diploma of Financial Planning

Case Study: Varghese Medical Consulting

18 August 2022
After outgrowing their new medical practice in less than a year, experienced doctors and practice owners (Ajit and Alfeen Varghese) knew they would need local, expert advice to assist with the next stage of their business journey. The couple reached out to RSM’s specialist Medical team who has since provided “instrumental support...

Tax Insights | July 2022 edition

1 August 2022
In our July 2022 edition of Tax Insights, we take a look at recent ATO guidance on hybrid mismatch rules, how you can stay on top of your ATO debt, and a Royalty Withholding Tax explainer video.

Don’t let your ATO tax debt cripple your healthcare business

19 July 2022
In the healthcare sector, we have noticed some complacency around overdue tax payments, particularly, for medical contractors who operate under an ABN, and failure to keep on top of tax obligations can very quickly see debt rise. 

Stay ahead of the curve with AI in your medical practice

5 July 2022
Every industry has experienced significant change over the past decade thanks to advancing technology. Touted for its ability to make us more efficient and productive, new platforms and AI-based software are revolutionising how we work, play, learn, shop, pay for goods and services, and more. Still believed to be in their infancy, artificial ...

Why you should always pay your super guarantee on time

8 February 2022
It has been a very tough couple of years for many Australian businesses. A recent study into the mental health of small business owners found 1 in 3 reported a medical diagnosis of either stress, anxiety, or depression in the past 12 months. Interestingly, the study also found a notable link between stress and employee numbers. As a business ...

RSM wins Employer of Choice in Albury

4 November 2021
RSM in Albury were the proud recipients of the Employer of Choice award at the recent Business NSW 2021 Murray-Riverina Business Awards.  “We were proud to be named finalists in two categories (Employer of Choice and Excellence in Business). It was a huge honour to be announced winner of the Employer of Choice category” said Peter Nic...

The startling tax ruling impacting GP and allied health practices

19 October 2021
Following a shocking determination by the Chief Commissioner of State Revenue in NSW, owners of general and allied health practices have been left wondering what it means for them. The ruling, which was made on September 3, found that the owner of four GP practices in Western Sydney owed the state almost $800,000 in retrospective payroll taxes. ...

How Your Medical Practice Can Survive, Recover, and Grow Through COVID-19

9 April 2020
Medical practices are at the forefront of containing the coronavirus pandemic. However, being forced into bulk-billed telehealth is having a significant impact on cashflow. A quick examination of income and cashflow identifies that doing nothing is not an option. There are 3 areas to be considered; survive now, plan for recovery and be ready fo...

Economic impact of COVID-19 on the Aged care and health sectors

16 March 2020
The coronavirus will put immense pressure on the Australian aged care and health sectors. Given older people are most at risk from the virus, Australia’s aged care facilities have urgently put in place controls to avoid the spread of the virus ahead of a potential outbreak. According to a health study undertaken in China to assess the risks in...

Government boosts support for health providers and communities in response to COVID-19 threat

13 March 2020
The Australian Government has unveiled a comprehensive $2.4 bn health package to protect all Australians, including vulnerable groups such as the elderly, those with chronic conditions and Indigenous communities, from the coronavirus (COVID-19).  The package provides unprecedented support across primary care, aged care, hospitals, research,...

Superannuation Legislation for High Income Earners

4 October 2019
The Government has passed superannuation legislation for high income earners (with income exceeding $263,157 per annum) which allows employees with more than one job to choose not to have the 9.5% superannuation guarantee paid by all their employers. There is an annual cap of $25,000 per person on the amount of superannuation contribut...

Positioning your medical practice to thrive in changing times

14 May 2019
Change in the health sector is almost as certain as death and taxes. There are new diagnostic tools, disruptive new technologies, new government policies, new regulations, new expectations and ever-increasing demand. Healthcare professionals are changing too. Altruism remains strong but doctors, allied health professionals, and vets are lea...

The future of general practice: cash flow, growth and innovation

19 October 2018
The future of general practice is truly at a crossroads, with many challenges but also a range of opportunities. General practice income is vulnerable because it largely relies on fluctuating government policy. How can a general practice navigate uncertain times while continuing to deliver high-quality patient care? It's knowing what to ...

Medical and Healthcare Providers Targeted over Payroll Obligations

21 August 2018
Medical and healthcare providers are currently in the spotlight of the State Revenue Offices (SRO) around Australia regarding their payroll tax obligations. The revenue authorities are focusing on medical, dental and optometry clinics, and the way these clinics have structured their arrangements regarding the medical professionals at the clinic....

Four ways to grow your business

1 July 2016
As a business owner, most would agree that the dream for your business is to one day see your hard work turn your small business into a leader in your industry. Expanding your business means taking on more staff, in the hope you can spend more time with your family. In most cases, your business is your retirement fund and to be comfortable at retir...

8 New Financial Year Resolutions to Strengthen Your Business

9 June 2016
Plan for a Strong Financial Year Ahead At the end of a financial year, have you ever noticed the accountants with an extra spring in their step, a big grin on their face thinking about how they’ve got balance sheets and transactions to code for their clients? You may not greet this time of year as joyfully as an accountant. Although it ...

RSM Australia and CMH Practice Management announce partnership

RSM Australia and CMH Practice Management's partnership to boost innovation and financial security in healthcare   RSM Australia, a leading professional services firm and trusted adviser of Australian health professionals and CMH Practice Management today announced its partnership with the objective of providing healthcare businesses...

Federal Budget brings relief for some doctors

The government was keen to assure Australians that there will be better certainty when it comes to health funding, with the Budget seeing a $10 billion allocation re-invested over four years into the health care system. Unfreezing Medicare Rebates The re-investment will see extra funds injected into research and ho...

15 percent backpacker tax, a win for primary producers

After waiting 18 months for legislators to reach a sensible conclusion to the highly contentious backpacker tax, a vote for 15 percent in the final hours of the parliamentary year is a major victory for long-suffering Australian farmers. The Green’s decision to support the coalition-Government’s proposed 15 percent backpacker tax rate, effec...

RSM - Employer of Choice in Albury

RSM Australia were the proud recipients of the Employer of Choice award over the weekend at the Albury-Wodonga Business Chamber Awards.     The black tie event was a chance for the local business community to celebrate and be recognised for their achievements. “We were initially just pleased to be listed as a final...