Consultation Report for Starting an Optometrist Shop in Maryland, New South Wales, Australia

PROJECT
STUDENT’S NAME
DATE

Introduction:
Management plays significant roles in operations of business organisations. The
managers at the top levels ensure that the business operations comply with the legislations
and market trends. The top level management consisting of the CEO, directors and
departmental heads form strategies. The middle level managers communicate the strategies
formed by the top level managers to the lower level managers who in turn communicate the
strategies to their subordinates. The middle level managers and lower level managers also
communicate the feedback and opinion of the lower level employees to the top level
managers. Organisational management plays pivotal role in ensuring that all the departments
operate in a well-coordinated manner which contribute to superior business performance of
the organisation as a whole (Obolensky 2017). However organisational management has
become so complex that entrepreneurs require to seek consultation from management firms.
The aim of the report is to provide consultation to an entrepreneur aiming to a new
optometrist shop in Maryland, New South Wales, Australia (Maryland.gov 2019). The entire
research would be presented from the point of the consultation firm.
Business name registration, taxes and any special industry requirements:
Registration:
The Department of Industry, Innovation and Science, Government of Australia
mentions that new business ventures in Australia have to get registered with the Australian
Securities and Investment Commission. The ministry also suggest the business organisation
to protect their respective registration names using trademarks (Business.gov.au. 2019).

TFN/ABN/GST/PAYG:
Tax File Number (TFN):
As per the Australian Taxation Office (ATO), Government of Australia , business
organisations need to fill Tax file number declaration (TFN) to enable their business
customers to decide the amount which has to be deducted their payments as taxes. The
business organisations can either fill the form online or download the same on A4 sheets to
fill by hand in block letters (Ato.gov.au. 2019).
Australian Business Number (ABN):
The business organisations are also required to obtain their individual Australian
Business Number or ABN. The registration applies nationally and requires no registration in
events of change of states. The registration fees of ASIC is $ 35 for a year and $ 84 for three
years. The business venture would receive confirmation in two working days and up to five
working days in case the payments are made using ETF, bank transfer or BPay
(Business.gov.au. 2019).
Goods and Service tax (GST):
The Australian Taxation Office or ATO mentions that the business organisations have
to register for GST. The rate of GST in Australia at present is 10 percent which the business
organisations are supposed to levy on the selling prices of goods. The amount collected as
GST is to be paid to the Government when due (Ato.gov.au. 2019).
Pay As You Go (PAYG):
The Pay As You Go is a system of paying taxes in instalments which businesses and
investors in Australia can avail. However, PAG does not exempt the business organisations
and investors from furnishing annual tax returns with ATO.

Any special industry requirements:
The business ventures in Australia have to comply with several laws which apply to
all industries in general as well as laws which apply to the particular in which they operate.
The laws like Fair Trading laws and Consumer Acts apply to all industries (Business.gov.au.
2019). As far as the optometrist under study is concerned, the firm should comply with the
guidelines issued by the Optometry Board of Australia. For example, the law clearly
mentions that optometry practitioners and store owners should graphic and visual
representations to treat patients with caution. Similarly, if their advertisements market any
treatment procedure require surgical treatment, the advertisement must mention, ‘Any
surgical or invasive procedure carries risks. Before proceeding, you should seek a
second opinion from an appropriately qualified health practitioner.’ clearly
(Optometryboard.gov.au. 2019).
Management
Interlocking the functions of the management of planning, organizing, staffing,
directing and controlling in order to achieve the objectives effectively and efficiently is
known as management (Campling, 2008).
Selection of the management personnel with requisite strengths, qualifications,
experience
 The managers in an organization are ranked from top to down with string chain of
command in order to ensure that decisions are implemented in the best way.
1. The top-level managers include the board of directors, CEO, vice-president. They provide
the vision, direction and the formation of the various strategies for marketing, production,
sales.