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For optometrists and optical practice owners
Reviewed by Panbo Ye, CFP®, FCPA Last reviewed
We help optometrists, from employed and locum to joint-venture partners and owners, understand each income stream and plan their next step.
Your first meeting is at no cost, with no obligation · English or Mandarin
At a glance
| Your first meeting | Free, no obligation. Bring a recent payslip, agreement or report and your last return. We confirm scope and fees in writing before any work starts. |
|---|---|
| What’s included | Tax returns and tax planning, a review of your income streams, joint-venture or purchase numbers, and super and insurance advice from our financial planners. |
| Who you’ll work with | A client manager as your single contact, a senior tax manager reviewing your work, and me, Panbo Ye (CFP®, FCPA), leading advice. |
| Fees | Personal tax return with a financial wellbeing check $330; sole-trader schedule from $550; tax planning from $1,500 (+GST). See all fees |
How optometry income works
| Stream | What to know | What we watch |
|---|---|---|
| Medicare | A comprehensive eye examination can generally be claimed once every three years for patients under 65, more often from 65 and when clinically needed. Since 2015 optometrists set their own fees, so bulk billing is a choice, not a requirement. | Your bulk billing mix and what each consult really earns |
| Health funds | Optical extras and preferred-provider networks bring patients in, at agreed prices | Fund agreements that quietly cap your margin |
| Dispensing | Frames, lenses and contact lenses are often where most of the gross profit sits | Margin by product, lab costs, remakes and discounting |
| Specialty services | Myopia control, dry eye and specialty contact lenses are often private, higher-value services | Pricing, packages and how they are recorded |
| Programs and insurers | Government spectacle schemes, DVA and other programs have their own fee schedules and paperwork | Slow payments and unclaimed amounts |
Many optometrists become owners through a joint-venture model with a national brand. Others build or buy an independent practice. Both can work well. The numbers, and the fine print, decide which suits you.
| Joint-venture partner | Independent owner | |
|---|---|---|
| What you buy | A share in one store, alongside the brand’s own entity | The whole practice, including its name and goodwill |
| Support | Marketing, buying, systems and training come with the brand | You choose your suppliers, systems and positioning |
| Costs to understand | Fees and royalties, loan terms for the buy-in, and how profits are shared | Purchase price, fit-out, stock and the working capital you need |
| Exit | Sale terms and valuation set by the agreement | Open market, so value depends on how well you run it |
Retail realities
Ageing stock, supplier terms and consignment arrangements tie up cash. A regular stock review frees money for the things that grow the practice.
Eye examinations are generally GST-free. Optical goods are a different question: sunglasses, accessories and some products are taxable, and eyewear needs to be coded correctly. Clean set-up in your system avoids paying GST you do not owe, or missing GST you do.
OCT, retinal cameras and visual field analysers are significant purchases. Depreciation, the small business instant asset write-off where available, and timing around 30 June change the after-tax cost.
Margins, stock turn and rosters are familiar ground for our team: our retail work →
Tax and wealth
Employed and locum optometrists usually earn personal services income, so a company or trust rarely helps on its own. Owning a share of a practice is different, and structure matters from day one.
Concessional contributions, unused cap amounts you can carry forward, and Division 293 above $250,000, planned around your income.
Income protection with an occupation definition that suits optometry. Income protection →
Optomate, Sunix, HICAPS, Tyro Health, Medicare Online, Xero / MYOB.
How it works
Book online
Tell me whether you are employed, a partner or an owner, and I’ll give you a plain-English view of the numbers. In English or Mandarin, in Chatswood or online. Prefer to talk first? Call 1300 913 929 or 0405 913 913.
Calendar not showing? Open the booking calendar in a new tab → or call 1300 913 929.
Reviewed for accuracy
Panbo Ye, CFP®, FCPA, SMSF Specialist Adviser™ and registered tax agent; founder of Everglow.
Last reviewed:
Rules, rates and thresholds change. Check the source, or talk to us, before acting. This page is general information, not personal advice.
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General information only. This page is general in nature and does not take into account your objectives, financial situation or needs. Rules, rates and Medicare items change; figures are current at the date of publication and should be checked against the ATO, Services Australia, MBS Online and your state revenue office before you act. Everglow is not a law firm: we review the financial, tax and commercial side of agreements and work alongside your lawyer for legal advice. Clinical and coding decisions always remain with the treating practitioner. Tax services are provided by Everglow Accounting Pty Ltd and Kam & Beadman Pty Ltd (liability limited by a scheme approved under Professional Standards Legislation). Financial advice is provided by Everglow Wealth Pty Ltd, Corporate Authorised Representative No. 1254987 of PGW Financial Services Pty Ltd (AFSL 384713).