by Arn Doan
6 months, 1 week ago
As a pharmacist in Australia, you have various career options. One option that is becoming increasingly popular is working as a locum/gig pharmacist. This blog will discuss the advantages of working as a locum/gig pharmacist, the tax and insurance implications of running a locum pharmacist business, and how a pharmacist can become a locum/gig pharmacist.
Advantages of working as a locum/gig pharmacist
- Flexibility – One of the significant benefits of working as a locum/gig pharmacist is flexibility. As a locum/gig pharmacist, you can choose when and where you work, allowing you to have a more flexible schedule. This is particularly beneficial for pharmacists with other responsibilities, such as family commitments, requiring a more flexible work schedule.
- Exposure to different pharmacies – Working as a locum/gig pharmacist provides the opportunity to work in other pharmacies and experience diverse working environments. This can broaden your knowledge and skills, making you a more well-rounded pharmacist. It can also help you establish a network of contacts within the industry, which can be valuable in finding future work.
- Travel opportunities – Locum pharmacists often work in different locations, providing the opportunity to travel and see other parts of Australia. This can be an exciting way to explore new places while furthering your career.
- Potential to earn more income – Since you are self-employed as a locum/gig pharmacist, you can work as many hours as you want and charge a higher hourly rate for your services. This allows you to earn more money than working as a traditional pharmacist, making it an excellent option for those looking to increase their income.
Tax and insurance implications of running a locum pharmacist business
- Tax implications – As a locum/gig pharmacist, you may be considered self-employed and need to pay your own tax. You can claim deductions for expenses related to your business, such as travel expenses, equipment and supplies. It is important to be aware of your tax obligations and seek professional advice to ensure you meet your responsibilities.
- Insurance implications – As a self-employed locum/gig pharmacist, you must have your own insurance coverage, including professional indemnity insurance, to protect yourself from legal claims. This is a requirement for all pharmacists in Australia, and it is vital to ensure you have adequate coverage in place.
Becoming a locum pharmacist
- Register with Gig Pharmacists – They are an excellent resource for finding work and taking care of the administrative side of things, such as invoicing and payment. This can make becoming and working as a locum pharmacist much easier and less time-consuming.
- Build a professional portfolio with Gig Pharmacists – Having a professional portfolio that showcases your skills and experience can help you stand out to potential clients. This portfolio should include your qualifications, experience, and relevant certificates or qualifications.
- Network – Building a network of contacts within the industry can help you find work and grow your business as a locum pharmacist. Attend industry events, participate in online forums, and connect with other pharmacists to build your network.
In conclusion, being a locum/gig pharmacist in Australia offers numerous advantages, including having a more flexible schedule, exposure to different pharmacies, travel opportunities, and earning a higher income. Considering the tax and insurance obligations that come with being self-employed in this line of work is crucial. It is highly recommended to seek professional tax and legal advice to ensure you meet all your responsibilities and protect your business interests. With the proper preparation and support, becoming a locum/gig pharmacist can be a rewarding and fulfilling career choice for pharmacists.